Home Property Financing

A mortgage means much more than the purchase price of the home.  This loan includes the principal but also interest on that loan, property taxes on the home, and homeowner's insurance.  These costs are referred to as PITI and they are typically nonnegotiable.  Lenders insist that property taxes and homeowner's insurance be part of the mortgage payment and paid every month as unpaid property taxes can result in a lien on the property and homeowner's insurance is meant to insure ... Read More »