Upfront costs include down payment, inspections, appraisals, earnest money, closing costs, taxes, rate buy-down, prepaid insurance, and HOA fees.
Ongoing costs consist of mortgage payments, property taxes, homeowner's insurance, mortgage insurance, HOA fees, maintenance, improvements, and utilities.
To mitigate home-buying costs, improve credit score, work with a real estate agent, and make a larger down payment.
Experts anticipate a potential interest rate cut by the Federal Reserve in September, which may impact home affordability.
While high interest rates have eased skyrocketing home prices, they've made monthly payments less affordable.
Your Real Estate Agent
About Agent
Sam has a Master of Business Administration (MBA) degree and years of experience dealing with people. As a real estate broker with his vast knowledge of the industry, he always wants his customers to get top-notch service.
