5 HIDDEN COSTS of OWNING A HOME
(1) Private Mortgage Insurance or PMI can be added on to monthly payments OR you pay an extra point up front, if your do NOT pay 20% UPFRONT on your loan. (2) Possible loss if down payment, if have to sell in a down market. (3) Special assessments you forgot about or did not know at closing. (4) Items you will need for maintenance & livability, such as lawn mowers, window treatments, frig, washer/dryer, etc. (5) Penalties & fines if you do not follow the HOA rules. Again need to know all this before closing.
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