Which of the following is NOT typically included in monthly mortgage payments?

Homeowner's association fees are generally not included in monthly mortgage payments. Standard monthly mortgage payments typically consist of principal repayment, interest on the loan, and escrow for property taxes and homeowners insurance. While these elements are essential for maintaining a mortgage, homeowners association fees are separate charges that cover the costs associated with community amenities and maintenance, which are not part of the mortgage itself.

Understanding that mortgage payments focus on the repayment of the loan and insurance related to the property is crucial. If a homeowner is part of a homeowners association, they would usually pay those fees alongside their mortgage payment, but they are distinct in nature and are not part of the lender's monthly mortgage payment calculation. This differentiation underscores why homeowner's association fees are not considered a standard component of monthly mortgage payments.