Coming up with the cash for a down payment can be a big hurdle for anyone hoping to become a homeowner. Most financial experts recommend aiming for a 20% down payment to avoid paying extra each month for private mortgage insurance. If you feel like it may be impossible to save up that much, you’re
Applying for a mortgage is arguably everyone’s least-favorite and least-understood part of the homebuying process. Nobody enjoys assembling the mountain of paperwork required for a loan application. But 90% of us need a mortgage loan to buy a house. So it behooves us to learn what prospective lenders really want to see in all the
You know you need to pay homeowner’s insurance when you purchase a home. And for good reason: that policy protects you should anything unexpected happen to your property. As expensive as homes can be to keep, maintain, and repair, the right home insurance is a great investment in your long-term financial security. If something goes
Maybe you’ve owned a home for years, or you’ve just left your parent’s home and are looking to get onto the property ladder. Either way, getting the deposit ready for purchasing your dream home is no easy task. For most people, buying a home is the largest purchase they will ever make in their lives,
When you purchase a condominium, townhouse or single-family home in a planned development, you must join that community’s homeowners association (HOA) and pay monthly or annual HOA fees for the upkeep of common areas, shared structures and shared exteriors. About one in five U.S. homes belong to a homeowners association, according to a data analysis by
Red Seal Homes has successfully unveiled new construction townhome projects, such as the Terraces at Provenance, the builder’s master-planned community of single-family homes, duplexes and townhomes in the north Chicago suburbs. Soaring land and building costs, higher median single-family home prices, growing preference for dense, walkable environments and the need for a bridge between renting