Your monthly house payment (including principal, interest, insurance and HOA fees) should be no more than 25% of your take-home pay. I recommend this percentage so you’re not house poor when most of your paycheck goes toward the mortgage. Visit Our Real Estate Home Base Get organized ...
HOA fees. If your home is part of a homeowner association, you'll usually pay monthly HOA fees. These are often included in your mortgage payment. Bear in mind that these aren't all the housing-related expenses you may have as a homeowner. You might want to have a repair fund, for ...
As Singletary discovered, whether you knowingly break HOA rules or overstep them by mistake, the consequences can be costly. Worst case scenario If a homeowner fails to pay a fine for a violation, late fees can pile up, and the HOA can put a lien against their home (even if it has a...
We've all heard of HOA horror stories. Sometimes you pay your HOA fees and they do absolutely nothing to make the neighborhood better or enforce basic rules to keep the neighborhood beautiful and property values up. On the other hand, there are those overzealous associations. I just read one...
Thomas A Musil
Actual mortgage payments can differ due to variations in local property taxes, insurance rates and changes in interest rates, as well as lender-specific fees that may not be included in the initial calculation. Can you use the calculator for adjustable-rate mortgages (ARMs)?
When you take a USDA loan, you are required to pay mortgage insurance in the form of a USDA guarantee fee. This obligatory cost is a trade-off for the zero down payment option. But of course, you still have the choice to make a down payment even though it’s not required. ...
Essentially, net metering is a billing tool that allows solar customers to use the electric grid to “store” any solar energy that’s not immediately used.Then you can draw power from the grid when you need it and enjoy a lower cost of electricity overall, thanks to your net metering cre...
If you have a home, you either love or absolutely hate your homeowner's association. For those who do not know what an HOA is, let me explain. Investopediasays, "A homeowner association (HOA) is an organization in a subdivision, planned community, or condominium building that makes and en...
HOA Fees If you buy a home in a Homeowners Association, you’re required to pay monthly association fees that cover the maintenance of your community. These fees can run from $100 to $1,000 each month, so make sure you clarify whether you’ll need to pay them before closing on your ...