While DTI is a great tool you can use to get an idea of how much you can afford, it doesn’t take into account future variables, such as salary changes, inflation or other potential expenses. It also doesn’t distinguish between different types of debt. For example, student loans are lu...
Appraisers use comps to inform their assessment of a property’s market value, though they take a great many other factors into account as well, including the city or county’s valuation for tax purposes, the site, hazards, HOA dues, improvements and overall condition. ...
now it's time to choose a neighborhood. Think about factors such as safety, amenities (like walkability, green spaces or coffee shops) and costs, which can include property taxes and, if it's part of ahomeowners association, HOA fees...
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But wait! That's not all. Your monthly payment may also fluctuate based on your home insurance premiums and HOA fees. In addition to your down payment, you should account for other upfront costs, such as closing fees, inspections, and moving expenses, in your budgetary calculations. ...
Lastly, don’t wait to separate your personal and business finances. You may find it tempting to intermix funds when working from home, but this will make performance harder to track and potentially lead to legal issues. All it takes to get started is opening a business bank account. ...
If it's been a while, find out if there's a problem that's deterred other potential buyers. On the other hand, if the home was just listed, be prepared to act fast if you want to make an offer. Is there a homeowners' association (HOA)? An HOA could come with monthly fees and...
“Setting boundaries can be difficult,” says Young, “but it is an essential part of creating a happy, healthy environment for both HOA boards and owners. Once you set these limitations, try to stick to them. Be consistent, and create a pattern. And always remember to be patient—it may...
At our first HOA meeting in May, we realized that we hadn't been paying our fees through the mortgage payment's escrow account as I'd (somewhat stupidly) thought we were. Luckily, we're in a small HOA, and they were very understanding and didn't charge us a late fee. We owed just...
Think of the escrow number like a bank account number — it’s a series of digits specific to a single transaction between a buyer and seller. Date & Time: Date and time of the closing, such as June 15, 2018 at 10 a.m. Officer/Escrow Officer: ...