article thumbnail

11 Things to Consider When Buying a Home in Raleigh NC

Raleigh Realty

Not a bad insurance policy Storage Space What type of storage space does the estate have? Especially, first-time homebuyers who receive a lot of help Buying New Construction Homes vs. Resale There are many differences between buying a new construction property vs. a resale home. The HVAC was shot.

HOA 148
article thumbnail

Important Mortgage Acronyms

Assurance Financial

C to P (Construction to Permanent Loan). If you are building your home, you typically need to first take out a construction loan, not a traditional mortgage, to fund the cost of building the house. A construction loan is typically a short-term loan that only pays for the cost of building a house. HOA (Homeowners Association).

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Guide to Getting a Condo Mortgage: What You Need to Know

PennyMac

Condominium communities have to deal with many interdependent factors that don’t impact single-family homes, including occupancy, construction status, and the financial health of the condo project. The condo complex is owned by the developer, with condos being leased by the HOA. HOA Considerations. Qualifying for Condo Loans.

HOA 36
article thumbnail

Challenges to Getting a Mortgage on a Condo Home

Will Springer Realtor

In Seattle, getting a mortgage on a home at Madison Tower is different than, say, Insignia Towers, and just as it’s different when buying new construction at KODA (opening soon) versus Nexus (open for more than a year now). Buyers typically pay for the HOA-completed questionnaire – around $200 – at closing.

HOA 36
article thumbnail

Guide to The Tanglewood Condo Houston

Houston Properties

The HOA fees may be higher than the average because most condos reside in this vicinity. HOA / Sq Ft. $.53. What’s Included in HOA Fee? Building & Grounds, Concierge, Insurance Common Area, Limited Access, Other, Recreational Facilities, Storage Outside of Unit, Trash Removal, Water and Sewer. Geo Market Area.

HOA 36
article thumbnail

Home Appraisals – What Do They Look For?

D Fritz Appraisals

They are also used to assess the value of the home for home improvement loans and insurance evaluations. Home appraisals are not just for when someone is buying or selling a home for themselves however, they are also important for: New construction loans. Valuation for insurance claims. Renovation loan assessments.

Appraisal 105
article thumbnail

12 Hidden Costs When Buying a House

Raleigh Realty

Hidden Costs when Purchasing a Home There are hidden costs when buying a home, including closing costs, insurance, or utility costs. Homeowner’s Insurance Homeowner’s insurance provides coverage if your home is affected by a fire, theft, natural catastrophe, etc.