Buying a House 101
How to Prepare to Purchase a House 1. Know Your Budget Before looking at homes, understand: Monthly income Monthly expenses Debt obligations What monthly payment feels comfortable…
Read this: Buying a House 101Amortization
How your loan is paid down over time through monthly payments.
Interest Rate
The cost of borrowing money from a lender.
Principal
The original amount of the loan.
Survey
A measurement of property boundaries and land lines.
Homeowners Insurance
Protects your home against damage, theft, or disasters.
Termite Bond/ Inspection
Required in many areas to check for termite damage or protection plans