Home Warranty Coverage

Home Warranty Coverage

A home warranty, or home protection plan, is a service contract, normally for one year, which protects homeowners against the cost of unexpected repairs or replacement on their major systems and appliances that break down due to normal wear and tear. A negotiable...
Home Warranty Coverage

Closing Day Events

You’ll present your paid homeowner’s insurance policy or a binder and receipt showing that the premium has been paid. The closing agent will then list the money you owe the seller (remainder of down payment, prepaid taxes, etc.) and then the money the...
Home Warranty Coverage

Buying Compromises

If you find that today’s home prices require you to make compromises (as is probably the case for most first-time buyers) look for homes that you could expand or upgrade in the future, to add the space or amenities you can’t afford today.
Home Warranty Coverage

Deciding on a Community

Select a community that will allow you to best live your daily life. Many people choose communities based on schools. Do you want access to shopping and public transportation? Is access to local facilities like libraries and museums important to you? Or do you prefer...
Home Warranty Coverage

Mortgage Factors

The amount of the down payment, the size of the mortgage loan, the interest rate, the length of the repayment term and payment schedule will all affect the size of your mortgage payment.
Home Warranty Coverage

Energy Efficient Mortgage

The Energy Efficient Mortgage (EEM) allows a homebuyer to save future money on utility bills. This is done by financing the cost of adding energy-efficiency features to a new or existing home as part of an FHA-insured home purchase. The EEM can be used with both...