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Closing costs vs. prepaids: What’s the difference?

Key takeaways When you purchase a house, closing costs are typically paid to your lender…

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What is PITI?

Key takeaways The principal, interest, taxes and insurance (PITI) comprise your monthly mortgage payment. You…

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What is a mortgagee clause?

10'000 Hours/Getty Images Key takeaways Many mortgage lenders require borrowers to have a homeowners insurance…

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What happens when you pay off your mortgage?

Luis Alvarez/Getty Images Key takeaways Owning your home free and clear carries both financial and…

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How to find affordable homeowners insurance in a high-risk fire zone

Key takeaways The number of counties identified as having a high risk of wildfires has…

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Does homeowners insurance cover fire damage?

MarkCoffeyPhoto/Getty Images Key takeaways Home insurance policies generally cover losses from a fire. However, homeowners…

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Guide to closing on a house: What to expect during the closing process

Our writers and editors used an in-house natural language generation platform to assist with portions…

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How is home equity split in a divorce?

Divorce isn’t just about emotional separation: It’s about financial separation, too, especially when it involves…

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Average down payment on a house

Key takeaways The median down payment on a home in the U.S. in Q1 2024…

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Home equity loan or HELOC vs. reverse mortgage: Which is right for you?

If you’ve owned your residence for a while, you’ve probably built up a valuable amount…

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