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Why Your Mortgage Payment Can Still Go Up – Even on a Fixed Rate

Many first-time homebuyers breathe a sigh of relief once they lock in a 30-year fixed mortgage thinking their payment will never change. But here’s the truth: while your loan principal and interest stay fixed, property taxes aren’t. And that can have a big impact on your monthly payment.
Many first-time homebuyers breathe a sigh of relief once they lock in a 30-year fixed mortgage thinking their payment will never change. But here’s the truth: while your loan principal and interest stay fixed, property taxes aren’t. And that can have a big impact on your monthly payment.

Market Value vs. Assessed Value

Understanding the difference is key:

💡 Market Value → What your home could sell for in today’s market.

💡 Assessed Value → What your town or city uses to calculate property taxes.


As local governments reassess property values, your taxes can rise—even if your mortgage rate doesn’t change.


Why It Matters

👉 Example: If property taxes jump from $10,000 to $15,000 per year, that’s an extra $400+ per month on top of your mortgage. That increase directly affects how much house you can comfortably afford.


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How LJ Realty Team Helps

At LJ Realty Team, we walk our buyers through every detail from mortgage planning to property tax estimates so you won’t be caught off guard after closing. We believe your dream home should come with peace of mind, not surprises.


📍 LJ Realty Team – Your Local Guide to Homeownership

127-03 Rockaway Blvd South Ozone Park, NY 11420

📞 (516) 218-1297

LJ Realty Team – Buy • Sell • Rent Equal Housing Opportunity

LJ Mortgage Team Inc. NMLS# 2120286

Purchase & Refinance


NYS Registered Mortgage Broker, NYS Dept. of Financial Services.

Broker arranges mortgage loans with third-party providers.

MORTGAGE BROKER ONLY, NOT A MORTGAGE LENDER OR MORTGAGE CORRESPONDENT LENDER.

Licensed By The N.J. Department Of Banking And Insurance.


 
 
 

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