Understand the costs of buying and owning a new construction home, including financing, closing costs, taxes, insurance, HOA fees, and long-term ownership expenses.
90 articles from National House Search
You need enough homeowners insurance to rebuild your house, not enough to cover what you paid for it. Insurance on the home itself is based on replacement cost, the money it would take to rebuild…
A construction-to-permanent loan is one mortgage plan that pays for building a home and then turns into your long-term loan when the home is done. Under Fannie Mae's rules, you must hold title to the…
Florida offers several property tax breaks to veterans, on top of the regular homestead exemption. The biggest is a full exemption on the homestead of a veteran with a service-connected total and…
An escrow shortage means your mortgage escrow account does not have enough money in it to cover next year's property tax and insurance bills, so your servicer raises your monthly payment to catch up.…
"You can often refinance a conventional loan as soon as a lender will approve you, because Fannie Mae's Selling Guide sets no general waiting period for a standard rate-and-term refinance. FHA…
Lender credits are money your mortgage lender puts toward your closing costs in exchange for a higher interest rate. You pay less cash at closing, but you pay more every month for as long as you keep…
Florida lets counties and cities give homeowners 65 and older an extra property tax exemption of up to $50,000 if their household income is under a yearly limit. For 2026, that limit is $38,686,…
The county's main first-time buyer help is the Homeownership Assistance Program (HAP) run by the Miami-Dade Economic Advocacy Trust (MDEAT). It gives a zero-interest loan for down payment and closing…
FHA loans charge two mortgage insurance premiums: an upfront premium of 1.75% of the base loan amount, and an annual premium that is 0.55% a year for most 30-year FHA loans with less than 5% down. If…
Florida homestead portability lets you move part or all of the Save Our Homes savings from your old Florida homestead to a new one, up to $500,000. You have to set up the new homestead within three…
A mortgage recast is when you pay a large lump sum toward your loan's principal and your lender recalculates your monthly payment on the new, lower balance. Your interest rate and payoff date stay…
To become a Florida resident, you make a Florida home your true, fixed and permanent home, and then back it up with official steps. The Florida Department of Revenue says filing a declaration of…
