Understand the costs of buying and owning a new construction home, including financing, closing costs, taxes, insurance, HOA fees, and long-term ownership expenses.
48 articles from National House Search
A wind mitigation inspection is a short check by a licensed inspector. The inspector records which storm-resistant features a Florida home has. The result goes on a report, and you give that report…
"There is no single debt-to-income ratio (DTI) for every mortgage. For conventional loans sold to Fannie Mae, the limit is 36 percent on manually underwritten loans, up to 45 percent if you meet…
"Yes, you can use Florida's Hometown Heroes program on a newly built home, but the home has to be finished first. Florida Housing's lender guide says a Certificate of Occupancy must be issued before…
"PMI, or private mortgage insurance, is insurance you may have to pay for when you get a conventional loan with less than 20% down. It protects the lender, not you, if you stop making payments. You…
"Escrow means someone else holds your money until it is time to pay it out. When you buy a house, you usually meet escrow twice. First, your deposit and closing money are held until the sale closes.…
"New homes in Florida can cost less to insure, but there is no set dollar amount. Florida law requires home insurers to offer credits for features that cut wind damage, including features that meet…
"An assumable mortgage lets a buyer take over the seller's existing home loan, with the same interest rate and the same time left to pay. FHA and VA loans have written rules that allow it, as long as…
"The Florida homestead exemption works the same way on a brand-new home as on any other home: you must own it and live in it as your permanent Florida home on January 1, then apply with your county…
"No, the property tax amendment on Florida's November 3, 2026 ballot would not eliminate property taxes. According to the official ballot summary posted by the Florida Division of Elections (checked…
"A 2-1 buydown lowers your mortgage rate by 2 percentage points in year one and 1 point in year two. In year three, your rate goes back to the full rate on your loan note and stays there. Someone…
Your monthly payment depends on which home you buy, what it costs, what loan you use, your down payment, and your credit—plus property taxes, homeowners insurance, and HOA dues on top of the loan…
If you're considering a gated community like The Estates at Lotis Wellington, it helps to understand what "gated" and "HOA" actually mean in practice, beyond the general idea that they exist.What…
