Do I need to have homeowners insurance if I pay cash for a home? While it is not a legal requirement to carry insurance on any home, any mortgage lender will require that you do so in order to protect its interests. When you use cash to pay for your home, you don't have a lender...
As a homeowner, you’ll still be responsible for homeowners insurance, property tax payments and any homeowners association (HOA) fees. If you’ve been paying for these recurring payments through an escrow account, this will no longer be the case once your mortgage is paid off. In some ...
However, you may still have to pay third-party fees, such as title/escrow, appraisal, and prepaid items like interest, property taxes, homeowners insurance, etc. And even without the mortgage origination fee, they might not offer the best combination of rate/fees known as APR. For example, ...