An interest-only mortgage is a type of home loan that offers a distinct, and often alluring, payment structure. For a set period, typically the first ...
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For homeowners who have built up significant equity, their property can become a powerful financial tool. Two of the most common methods for accessing...
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The decision between a 15-year and a 30-year mortgage is one of the most significant financial choices a homebuyer can make, setting the trajectory fo...
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The choice between a 15-year and a 30-year mortgage is one of the most significant financial decisions a homebuyer or refinancer will make. This decis...
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The journey to homeownership is often symbolized by the quest for the perfect mortgage rate, but the financial responsibility extends far beyond that ...
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In the ever-evolving landscape of real estate financing, an often-overlooked option presents a unique opportunity for both buyers and sellers: the ass...
Read MoreInitial landscaping costs depend on whether you’re starting from bare dirt. A basic budget for a new build typically ranges from $2,000 to $10,000. This often includes: Sod or Grass Seed: $1,000 - $3,000 A Few Foundation Shrubs & Trees: $500 - $3,000 Basic Mulching and Edging: $500 - $1,500 More complex designs with patios, irrigation, and mature trees can easily cost $20,000 to $50,000 or more.
No, HOA fees are completely separate from your mortgage payment. Your mortgage payment typically covers your loan principal, interest, property taxes, and homeowner’s insurance (PITI). Your HOA fee is a separate payment made directly to the homeowners association.
You should ask this to understand your options beyond the standard 30-year fixed-rate mortgage. A good lender will offer a variety, including FHA, VA, USDA, Conventional, and adjustable-rate mortgages (ARMs), and help you determine which best fits your financial situation.
Title insurance is a policy that protects lenders and homeowners from financial loss due to defects in the property title that were not found during the title search. Unlike other insurance that covers future events, title insurance protects against past, unknown issues. There are two main types: Lender’s Title Insurance (required) and Owner’s Title Insurance (highly recommended).
Your share is typically calculated based on your “percentage of ownership” in the common elements of the community, which is usually outlined in the HOA’s governing documents. This percentage is often, but not always, tied to the square footage or value of your unit relative to others.
