Whether you are buying your first home or gearing up for a second purchase, you’ll be responsible for paying a variety of closing costs and other fees related to obtaining a mortgage. Generally, closing costs are paid when you sign on the dotted line for your mortgage, often at a final meeting called the “closing,” but it’s important not to overlook other costs associated with your loan.
Ready to buy a home? Can't stop daydreaming about that charming townhouse? Not so fast. There's a lot more that goes into buying your first home than scrolling sales listings and wishful thinking. Get the down-low from our housing market experts.
You have probably heard home buyers, sellers and real estate professionals talk about being in escrow, close of escrow, or even “falling out of escrow.” What do these terms mean, and how will they impact your home buying journey?
Buying your first home can be one of the most rewarding investments you will make in your lifetime. But the experience can quickly turn sour if you’re not financially—and emotionally—prepared. While it can be easy to get caught up in excitement of finding your dream home and ditching the landlord, it’s critical to consider whether you’re truly ready for the responsibilities of homeownership.
If you’re one of the 15 million Americans who are self-employed, you don’t have to give up the benefits of being your own boss in order to become a homeowner.