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How Much of My Income Should Go Towards a Mortgage Payment?

Assurance Financial

Property taxes. You pay your property taxes to local governments to fund things like schools, firehouses, police departments and other public works. They are based on your property’s value and local tax rates. This allows you to pay your taxes over time rather than paying a large sum all at once.

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Mortgage Term Glossary

Assurance Financial

The assessed value of your home is how much it is worth in the eyes of the tax agency in your municipality. The assessed value is used to calculate your property taxes. A lender might set up an escrow account where they hold money that goes toward your property tax payments and homeowners insurance premiums.

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Can You Get a Mortgage for a Tiny Home?

Assurance Financial

However, tiny houses can come with big challenges for financing since their small size makes them ineligible for many mortgage and insurance plans. For insurance and financing purposes, THOWs fall under the umbrella of recreational vehicles (RVs) and covered as such. The options for tiny house usage are endless.

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Does Refinancing Affect Your Taxes?

Assurance Financial

Refinancing could potentially lower your monthly payments , allow you to consolidate debt, speed up the payoff process for your mortgage, eliminate your private mortgage insurance (PMI) and put more cash in your pocket. Does Refinancing Affect Property Taxes? are subject to property taxes. Homeowners in the U.S.

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Millennials and Homebuying

Assurance Financial

There are many loan programs designed to assist first-time homebuyers. While your property taxes and home insurance rates may fluctuate, the majority of your costs will not increase. Design Freedom. Another great thing about owning your home is the freedom to design it however you want. Downloadable Guides.

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Real Estate Appraisers Share How They Stand Out from the Competition

McKissock

” Free download: Ready to launch your appraisal career? ’ My report and the report of a licensed appraiser will often have a similar dollar value result, but the appraisal will include a cost to construct component and my opinion of value will include notes to improve the market appeal of the property.”

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What Is a USDA Loan and How Do I Apply?

Assurance Financial

These mortgages are designed to suit low- to very-low-income applicants. The loans are designed to encourage people to buy homes in rural areas. The loans don’t have private mortgage insurance requirements, which can help buyers save more. Downloadable Guides. Click here to download the file. Direct Loans.