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Private Mortgage Insurance (PMI) - This is an extra insurance that the lender may require if the downpayment is less than 20% of the total home value to protect the lender for possible loss if a borrower defaults on a loan.
Property Tax - To be paid to the seller when the seller has paid the property taxes in advance that covered the month you'll be moving into the property.
State Recording Fees - This is the fee paid to the state for recording the transaction.
Survey cost - The survey is done to determine the exact boundaries of the property. If there is already an existing survey, you don't have to obtain one again.
Title insurance - The insurance guarantees that no other person can claim your property. It makes sure that there are no unexpected debts from your new property.
State Recording Fees - This is the fee paid to the state for recording the transaction.
Survey cost - The survey is done to determine the exact boundaries of the property. If there is already an existing survey, you don't have to obtain one again.
Title insurance - The insurance guarantees that no other person can claim your property. It makes sure that there are no unexpected debts from your new property.
Next: Choosing your real estate agent
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