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Tracy Said:

What are the monthly expenses that would be added to my monthly mortgage?

We Answered:

Only PMI (Private Mortgage Insurance) will not be required if you put down 20%.
Other's like home owners insurance, proterty tax will be part of it apart from Principle + interest component.
Home owners Insurance can be coupled with the car insurance to get some discount on both.
Property tax is dependant on value of your house and rate can be found on your city/county web-site.

Christy Said:

If you refinance your home into FHA loan and have 20% equity do you still need monthly mortgage insurance?

We Answered:

FHA always requires PMI even at 80% LTV, but its not a bad price to pay to get interest rates in the low 5s with cash out and lower credit scores.

Curtis Said:

Will mortgage insurance make my monthly payment for me if I were to lose my job?

We Answered:

If you are talking about the casualty insurance on the property required by the lender no

If you are talking about a seperate policy specifically dedicated to job loss or disability, maybe.

Call your lender; they need the bad news either way.

Mike Said:

when you buy a home, what are other things you need to pay beside mortgage and insurance (monthly)?

We Answered:

Homeowners insurance and PMI if applicable.