First, let's calculate the monthly cost of the insurance and property tax:
Homeowners insurance = $900 / 12 months = $75 per month
Property tax = $1400 / 12 months = $116.67 per month
Total monthly cost of insurance and property tax = $75 + $116.67 = $191.67
Next, let's calculate the monthly mortgage payment using the formula for a fixed-rate mortgage:
M = P[r(1 + r)^n] / [(1 + r)^n - 1]
Where:
M = monthly mortgage payment
P = principal loan amount ($235,000)
r = monthly interest rate (4% / 12 months = 0.003333)
n = total number of payments (15 years = 15 * 12 = 180 payments)
M = $235,000[0.003333(1 + 0.003333)^180] / [(1 + 0.003333)^180 - 1]
M = $1,722.45
Finally, the total monthly payment to the lender that includes insurance and property tax is:
Total monthly payment = $1,722.45 + $191.67 = $1,914.12
Therefore, Noel's monthly payment to the lender that includes the insurance and property tax is $1,914.12.