Property Taxes & Homeowners Insurance Explained

Property Taxes, Homeowners Insurance & Escrow Explained | Mortgage Tips 2026 Why is your mortgage payment higher than just your loan? In this episode of Mortgage Matters in Minutes, Brent Rasmussen (owner of Mortgage Specialists) explains how property taxes, homeowners insurance, and escrow accounts impact your monthly payment—and why many buyers underestimate these costs. 🏡 In This Episode, You’ll Learn: What homeowners insurance (hazard insurance) actually covers How much you should expect to pay (rule of thumb: ~1% of home value annually) How property taxes are calculated and why they vary by location What an escrow account is and how it works Why you pay insurance and taxes at closing AND monthly Why your mortgage payment can increase over time 💡 Key Takeaway: Your true mortgage payment isn’t just principal and interest—taxes and insurance can significantly increase your total monthly cost. In some markets, these costs can be nearly as much as your loan payment—making accurate estimates critical when buying a home. 📞 Questions? Call Mortgage Specialists at 402-991-5153 🌐 Visit: mtg-specialists.com 👉 Like, comment, and subscribe for weekly mortgage updates! 🔗 Helpful Resources ☑️ Apply for a mortgage: https://mtg-specialists.com/online-application/ ☑️ Schedule a call: https://calendly.com/mortgage-specialists-omaha ☑️ Call: 402-991-5153 ☑️ Blog: https://mtg-specialists.com/blog/ ☑️ Reviews: https://tinyurl.com/55zft5ef 📱 Follow Mortgage Specialists 📘 Facebook: facebook.com/mortgagespecialists 📸 Instagram: instagram.com/mortgagespecialistsomaha 🐦 Twitter/X: twitter.com/MTGSpecialists Timestamps for MMM 209: Property Taxes & Homeowners Insurance Explained 0:00 - Intro 1:07 - What is Homeowner's Insurance? 2:49 - What are Property Taxes? 4:00 - Escrow Accounts 6:30 - Conclusion 7:18 - Outro Licensing info: Brent Rasmussen, NMLS 5918 at Mortgage Specialists, LLC NMLS 2424 For licensing, go to www.nmlsconsumeraccess.org Address: 8420 W Dodge Road #113, Omaha, NE 68114 Equal Housing Lender Website: mtg-specialists.com Applicant subject to credit and underwriting approval. Restrictions may apply, contact Mortgage Specialists, LLC for current rates and for more information. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Mortgage Specialists, LLC does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Mortgage Specialists, LLC. Mortgage Specialists, LLC and its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. Mortgage Specialists, LLC is a limited liability company organized under the laws of the State of Nebraska. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture, or any other government agency. Mortgage Matters in Minutes Episode 208: Why Sellers Don’t Like FHA Loans And What Buyers NEED to Know!