Homeownership: Closing Day & Beyond – Part 4 of 4

Budgeting for Home Maintenance When you own a home, there are other costs you will have to consider besides your monthly PITI payment of Principal, Interest, Taxes, Insurance. House maintenance costs will vary greatly on the type of house you buy. Size – the more square footage the house, the chances are the more you will […]

Homeownership: Closing Day & Beyond – Part 3 of 4

Beyond the Mortgage Payment When you close on your property, you may have all of your property taxes and home insurance included with the payment and interest for your PITI or mortgage payment. In the next two sections we are going to look at property taxes and insurance as separate items in case you are […]

Homeownership: Closing Day & Beyond – Part 2 of 4

Important Documents On closing day, there will be a lot of documents to sign, so it is important to understand what information is contained in each document. Closing Disclosure Throughout the underwriting process, your lender is required to keep you updated on the loan estimate. The estimate may change slightly through the underwriting process until […]

Homeownership: Closing Day & Beyond – Part 1 of 4

The Closing Process Nothing should be a surprise to you on closing day. Your lender and settlement provider (a law office or a title company) will send you the important final financial information for you to review before closing day. A law office or a title company facilitates the actual real estate transaction. They are […]