You’ve got your down payment and you’ve been approved for a mortgage.
If you want to know the actual price of owning a home, throw in closing costs, moving expenses, homeowner’s insurance, private mortgage insurance (P.M.I.)
With a down payment of that size, lenders typically require P.M.I.
So, that average-value three-bedroom home ended up requiring an outlay of about $623,290 over 13.2 years of ownership.
Mortgage payments alone accounted for $270,593 of that, with maintenance and repairs adding up to $192,139.
Persons:
You’ve, you’ve