INTEREST RATES ARE STILL LOW LOW LOW!!!
THINKING OF BUYING??? CHECK OUT THESE 5 EXPENSES TO KEEP IN MIND FOR FIRST TIME HOME BUYERS!
1) Private Mortgage Insurance (PMI)- If your leaving a down payment of less than 20% this is a monthly fee that reimburses the lender in case of defaulting on your loan
2)HOA Fees- Thinking of moving into a gated community? A homeowners association? Usually these HOAs required monthly or yearly fees for every homeowner make sure you double check with that Association before so you have a a better idea of your expenses.
3) Property Taxes make sure the taxes are accurate. It is EXTREMELY important you pay those taxes and keep up to date!!!
4) Homeowners Insurance is required. Most lenders require up to a year of homeowners insurance make sure you call around and compare rates!
5)Inspections after your offer is accepted a home inspection is the next step. Make sure you know what needs to be replaced or fixed whether by the seller or yourself so you can budget these items. Some items can be smaller whereas some items can be larger.
6) CLOSING COSTS! DONT FORGET THAT!!!! Between attorney, appraisal, lender, title, recording,etc all these fees no matter what house you buy! Make sure you check with your lender so you can have an idea of what to put aside to bring to the closing table!
Any questions? Confused? Thinking of Buying--- CALL DIANE 631-236-2721 OVER 24 YEARS OF REAL ESTATE EXPERIENCE!