Did you know that when you buy a property, you must have money set aside to cover start-up costs? Such as:
Your down-payment
Property inspection costs
1.5% of the property closing costs
After your property purchase transaction, additional savings set aside may help unforeseen expenses.
These expenses should not be taken lightly and all mortgage lenders will even check that you have these funds available before granting you a loan. Mortgage loans are calculated based on the value of your property and, therefore, cannot be used to pay these additional costs.
For detailed information please visit: https://landmarkrealties.com/
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