Remove Insurance Remove Investors Remove Loan Officers Remove Property Taxes
article thumbnail

How to Buy a Rental Property: Get Tips from the Experts

PennyMac

For example, typical annual costs include things like: Insurance. Property taxes. Sepehr Niakan, a licensed real estate broker at HB Roswell Realty and founder of CondoBlackBook , has sold hundreds of bank-owned properties in Miami and is an avid real estate investor. Decide Whether To Loan or Buy In Cash.

article thumbnail

The Assumable Mortgage – Is It the Right Move for You?

PennyMac

New FHA Mortgage: A new 30-year FHA loan for a home priced and appraised at $230,769, with a principal loan balance of $222,692 (after the buyer put a minimum of 3.5% and an approximate total loan cost of $273,543.07 (paid over 25 years). Total Loan Cost (principal +interest) $493,615.06 $273,543.07 $220,071.99

Insiders

Sign Up for our Newsletter

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

article thumbnail

Understanding Mortgage Payments

Assurance Financial

Repayment: You make monthly payments on the loan , which typically include principal, interest, taxes and insurance. The loan is usually repaid over a period of years. Ownership: Once the loan is fully repaid, you own the property outright. Toward the end of your loan, that proportion will be much lower.

article thumbnail

Buying a Vacation Home: 4 Critical Factors & Expert Advice

PennyMac

Here are a couple of things to hold in mind when considering a vacation home purchase: Property taxes are going to be surprisingly high — in most states, a property owner can claim a single residence as their “homestead property,” or what the state considers their primary residence.