Question

housing decisions
sasha has just gotten a new job in a nearby city. after comparison shopping, she found that renting a nice two - bedroom apartment would cost around $800 per month. her utilities would cost about $150 per month.
sasha has enough money saved for a down payment, and she found that she can buy a three - bedroom house or condo with a mortgage payment of $1,000 per month, including taxes and homeowner’s insurance. her utilities would cost about $200 per month.
what is included in sasha’s mortgage payment? check all that apply
□ repairs, if something breaks
□ utilities, such as electricity and water
□ homeowner’s insurance and property taxes
□ maintenance costs for the home
□ interest on the loan

Explanation:

A mortgage payment typically consists of principal, interest, taxes, and insurance (PITI). Homeowner's insurance and property taxes are part of the PITI structure. Interest on the loan is also a component as the bank charges interest for lending the money. Repairs, utilities, and maintenance costs are separate expenses not included in the mortgage payment itself.

Answer:

• homeowner’s insurance and property taxes
• interest on the loan