One disadvantage of an HOA is the high cost of the association fees. This can act as a deterrent for some prospective buyers. The HOA rules and regulations can also seem unreasonable, arbitrary, or too restrictive for some homeowners who may want the freedom to customize their properties. HOA...
That said, there are numerous ways you can potentially stretch your home budget to $200,000+ on a $70,000 salary. Securing a low mortgage rate and shopping for homes with generally low overhead (newer build, low/zero HOA fees) is a great way to get a home that’s slightly out of ...
Mortgage closing costs can come as a shock if you aren’t expecting them. Here’s what they are, how much they are and how to prepare for them.
Once you know how much you’re approved to borrow, you should use this as a baseline to help you determine how much you can afford each month. “The best way to ensure you purchase within your means is to be fully preapproved prior to beginning your home search,” says Kristen D. Cont...
You might want to consider this approach if you’ve got your heart set on a specific home but need some extra time to work on your credit or down payment beforeapplying for a mortgage. With a lease option in place, it is generally much more difficult for the current homeowner to sell ...
HOA fees: The monthly amount you pay to yourhomeowners' associationto help cover the costs of maintaining and improving the properties in the association. It's easy to change one or more variables (and it's recommended that you do so) to see how it would affect your monthly mortgage paymen...
When you're trying to figure out how much you might be able to borrow to buy a house, bear in mind that your DTI doesn't necessarily reflect your actual cost of living. You might qualify for a larger mortgage than you can realistically afford. You don't want to be tied down Are ...
HOA Fees:If the property is located in a community with a homeowner’s association (HOA), there may be monthly or annual fees for upkeep, amenities, or shared services. Legal and Professional Fees:Expenses related to legal services, accounting, and other professional consultations should be facto...
The costs of selling a home start with home prep, followed by staging, marketing and likely concessions, plus the average closing costs of selling, 8%-10% of the sale price. Real estate fees for sellers add up fast.
Learn about how much closing costs are when buying a house, what’s included in those costs and who pays them with this article from U.S. Bank.