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Contributor

How accurate is the USAA estimate for monthly payments? If not very accurate how much should I adjust? I'm trying to build a budget plan.

3 REPLIES

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Juan;

 

If you are talking about the Track Your Money Tab in USAA Money Manager found by clicking View Analysis (or by selecting Track Your Money found in the Budgeting and Goals Section of My Account Tools), or the data shown by clicking on How I Spend (within an individual account), then the answer is very accurate.

 

That said, however, it should be noted that the data shown is highly dependant upon how YOU elect to assign Categories (and/or Sub-Categories) to individual transactions.

 

Here are some USAA LINKS which might help you.

 

1. USAA Money Manger **Note the individual TABS for:

  • Track Your Money
  • Spending Plan
  • Investment View
  • Annuities View

2. USAA Goals Planning Tool

 

Hope this helps.

 

 

 

 

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The Highlighted section. Is this number relable to use for budgeting? If no, how should i adjust for a predication budget?

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Jaun;

 

I see you were using  Home Circle™ from USAA looking at a home you are interested in.

 

1. About the highlighted payment information.

 

  • This is only an ESTIMATE as seen from this screen shot (edited):

 

USAA_Home_Circle_01.png

 

2. Key Things To Remember:

 

  • Mortgage Principle and Interest MAY CHANGE due to fluxuations in Interest Rate.
  • Property Tax is only an ESTIMATE and may be higher than shown due to local County (Parish) Property Tax Rates.
  • Home Owners Insurance is only an ESTIMATE and may be higher than shown depending on insurer.
  • Private Mortgage Insurance is most likely not needed so the $0 value is probably ACCURATE.

3. How to Determine Budget Value for Mortgage Payment:

 

  • Keep an eye on current interest rates by clicking here then use the USAA Mortgage Calculator found here to determine your Mortgage Principle and Interest Payment
  • Check the local County (Parish) Tax Assessor Office for the Property Tax Rate. They often have a "calculator" to estimate the Property Tax Payment for a given address. ** IN YOUR CASE click here for the local County (Parish) Tax Assessor Office Property Tax Calculator for the property in question.
  • Contact your insurance company and get estimate for Home Owners Insurance Payment for a given property.

Final Step: All you need to do then is to ADD TOGEATHER the Mortgage Principle and Interest Payment plus Property Tax Payment plus Home Owners Insurance Payment to get a more accurate Estimated Mortgage Payment.

 

Hope this helps clearify things and gives you help.