Understand the costs of buying and owning a new construction home, including financing, closing costs, taxes, insurance, HOA fees, and long-term ownership expenses.
100 articles from National House Search
An adjustable-rate mortgage (ARM) starts with a fixed rate for a set number of years, then the rate can go up or down on a schedule. Right now the starting rate on an ARM is lower than a 30-year…
Palm Beach County property taxes are figured by multiplying your home's taxable value by the millage rates of every taxing authority where you live, and on a brand-new home, the second year's bill…
Builder preferred lender incentives can be worth accepting when the usable benefit outweighs added loan costs and fits your plans. They can also be less valuable than they look. Compare the preferred…
A builder rate buydown is help with the cost of a mortgage rate or early payments. First find out which kind you are being offered. A temporary buydown helps with payments for a set period. A lasting…
Builder closing cost incentives help pay allowed costs when you buy a new home. The builder's offer sets the promise. Your loan rules and real charges set what you can use. A credit may reduce cash…
Builder incentives are benefits a builder offers to encourage a home purchase. They may help with eligible closing costs, financing costs, or selected features. Some offers change the price. Others…
New home builder incentives are easier to judge when you have a written offer for the exact home. Ask what the benefit pays for, who qualifies, which services you must use, and which dates apply.…
"A flood zone is an area on a federal flood map that has a risk level for flooding. The map is made by FEMA, the Federal Emergency Management Agency. Zones that start with the letters A or V are the…
"FHA loans let you buy with as little as 3.5% down if your credit score is 580 or higher, but with a typical small down payment you pay FHA mortgage insurance for the life of the loan. Conventional…
"Florida's documentary stamp tax is a state tax on the papers you sign to buy a home. The deed is taxed at 70 cents per $100 of the price (60 cents in Miami-Dade County), and a new mortgage is taxed…
"A mortgage rate buydown is money paid up front to lower your interest rate. A temporary buydown, like a 2-1, lowers your payment for one to three years, and then your rate goes back up to the full…
Lock your mortgage rate once you have a signed contract, a closing date your lock can cover, and a payment you are comfortable with. The Consumer Financial Protection Bureau (CFPB) says rate locks…
