<p>The CSS Profile question PE 150A asks for the amount of your mortgage payment. The question has no explanation. There is an old thread where people discuss whether the property taxes and insurance on the home should be included. Some people pay those with their mortgage into an escrow account. Surely, everyone should be treated the same whether you pay the insurance and taxes directly or through your mortgage. In any case, does anyone know the official CSS Profile answer to this question? Should I add together all three (payment on loan + property taxes + homeowner's insurance)? The previous thread I found only discusses people's opinions. THANKS!!!</p>
<p>We did not include our property taxes and insurance on the mortgage payment line on the Profile.</p>
<p>I am curious about the same thing.</p>
<p>Paying for College Without Going Broke, 2009 Edition, Kalman Chany, Princeton Review. </p>
<p>PE-150 "Parents' monthly home mortage/rental payment. If you own your primary residence, include the monthly mortgage payments(first and second) on the house, condominium, or cooperative apartment, as well as the maintenance fees, and home equity loan payments. Otherwise, list the monthly rent that you pay. Not that it will do you much good. These numbers are not factored into the formula."</p>
<p>As you can see, the number is not factored into the formula. I always include the escrow payments for the taxes & insurance. If something doesn't look right to the colleges, they can always ask you to clarify the information you submitted on the Profile.</p>
<p>I asked this question of CSS Profile last year. Here is their response:</p>
<p>Should the monthly home mortgage payment equal the total monthly
payment(i.e. including escrow), or just the principal plus interest?</p>
<p>No. You should only enter the principal and interest that you pay for
the monthly mortgage on your home. Do not include the escrow payments
anywhere on the CSS/PROFILE Application; this information is not
requested.</p>
<p>Thank you for contacting the College Board.</p>
<p>Thanks everyone. I really appreciate your help.</p>
<p>I've never put taxes (which is much more than our monthly mortgage payments) I'd always wondered if I was doing it correctly, and now I know. Thanks</p>
<p>I wish we could include property taxes. Around here, people pay up to $15,000/yr, although our taxes are about 2/3 that - then again, we never traded up. We're still in the house we moved into when we first got married. Never could afford an upgrade. Never could afford to update the house, either. But in this economy, we're plenty happy we didn't overextend ourselves. I have friends in other parts of the country who don't realize how an "average" salary doesn't go very far around here. Then again, I've heard it's crazy in Cali too. Moving isn't an option since no one is buying.</p>