When you set out to purchase a home, some of your expenses likely will include a down payment, as well as money for movers and new furnishings. There’s also another expense that many homebuyers sometimes forget about: closing costs on a mortgage. Typically ranging from 2 percent to 5 percent of a borrower’s loan amount, closing costs average about $5.749
One of the most important decisions facing a couple going through a divorce is what to do with the home they owned together. And if the breakup is bitter, attempting to agree on the house and mortgage can be difficult. There are several factors to consider, including how the property was financed and titled; whether or not one of the
If you’re buying a home, one question you might have is whether home insurance is required when you own a house. In many cases, homeowner’s insurance is indeed mandatory, and even in cases where it isn’t absolutely necessary, it’s still a good idea. To help you understand why, here’s a look at exactly what homeowner’s insurance is, why it often
Plus, Other Questions You Might Have About Refinancing With today’s low mortgage rates, you might be thinking about refinancing your home again. But you might be wondering about the process, especially if you’ve refinanced before. Here are some answers to any questions you might have about refinancing a mortgage. How many times can you refinance your home? Refinancing involves obtaining
