Financial FAQ

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Purchasing a Home

How much money will I have to come up with to buy a home?

That depends on a number of factors, including the cost of the house and the type of mortgage you get.

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What does a mortgage payment cover?

Most loans have 4 parts which are abbreviated to PITI and sometimes PITIA if there is an Association such as a condo association fee or a homeowner association fee.  The parts are defined as:

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What is a Good Faith Estimate?

It's an estimate that lists all fees paid before closing, all closing costs, and any escrow costs you will encounter when purchasing a home.

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