If you’re getting a mortgage on the house you’re buying, your lender usually requires you to pay your first yearly homeowners insurance premium before or at closing. The lender does this to protect the investment on their end. Paying your home insurance upfront can be done with or without anRead More →
With an escrow account, you make one payment for your mortgage each month. However, a portion of that goes into an escrow account, which will then pay your homeowners insurance premium when it next comes due. Is homeowners insurance paid through escrow? Typically, your escrow payment covers part of yourRead More →
A homeowner’s association (HOA) is an organization in a subdivision, planned community, or condominium building that makes and enforces rules for the properties and its residents. Those who purchase property within an HOA’s jurisdiction automatically become members and are required to pay dues, known as HOA fees. What is theRead More →