WHAT TO CONSIDER WHEN BUYING A HOME: 1. What it will cost you in total (down payment, closing costs, total mortgage including principal and interest, etc.) 2. Do I have enough money saved to get into a house (utilities, taxes, upkeep, repairs, etc.) 3. Can I afford the regular monthly house payments? e.g. insurance, escrow (a written agreement or property or money, delivered to a 3rd party or put in trust by one party to a contract to be returned after fulfillment of some condition), interest, etc. TO DO THIS: 1. Make sure your lender knows your plan. 2. Make sure you get your amortization (payment of an obligation in a series of installments or transfers) or payment schedule. 3. Pay by cheque. a. One for your regular payments. b. Another for your pre-payment of next month’s principal.
Posted on: Sun, 10 Aug 2014 07:54:24 +0000
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