Beyond the Mortgage: What To Budget For
Buying a home means more than a mortgageÑbudget for these essentials:

Down-Payment: Often 20%, but can be lower (with higher monthly payments)
Primary Mortgage Insurance (PMI): Required with less than 20% down; added to your monthly mortgage
Moving Expenses: Vary based on distance & how much youÕre moving
Closing Costs: 2%Ð5% of the loan for fees like appraisal, title & taxes
Ongoing Costs: Insurance, property taxes, HOA fees & maintenance
Pro Tip: Plan ahead to avoid surprises and make your home purchase a smart one!