Remove HOA Remove Loan Officers Remove Property Taxes Remove Renovations
article thumbnail

The Pros and Cons of Buying a House

PennyMac

Mortgage interest and property taxes may be tax deductible. Property taxes and HOA fees are the buyer’s responsibility. You Pay Property Taxes. Based on the assessed value of your home, property taxes are used to pay for roads, schools, emergency services, etc. in your area.

article thumbnail

Understanding Mortgage Payments

Assurance Financial

You can also borrow strategically against your equity by taking out home equity loans — to perform renovations, say, and boost the eventual resale value of your home. How Does a Mortgage Loan Work? A mortgage loan is a type of loan that is used to purchase a property, such as a home or a piece of land.

article thumbnail

Buying a Vacation Home: 4 Critical Factors & Expert Advice

PennyMac

That is, until your home renovation projects start to go down the toilet (or worse, the toilet starts falling through the floor). Here’s how to know if the property you’re considering is a great investment, or just a great way to empty your wallet. So, you’ve finally found your dream vacation house. Buying a vacation home?