The 6 Ways New homeowners waste money. As homeowners, we all have our own styles, preferences, and needs. With that being said, there are some pitfalls that we can all encounter. Here are a few of the most common ways new homeowners waste money within the first few months of ownership. Private Mortgage Insurance (PMI)
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Once you buy a home, it’s tempting to completely upgrade your lifestyle-but hang on, you may need that cash. Here are six major expenses buyers can avoid. 6 Things New Homeowners Waste Money On.
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Many of us are told by financial gurus and experts that paying private mortgage insurance (PMI) is a waste of money. PMI is a fee you pay on your mortgage until you owe 80 percent or less of what your home is worth. It’s one reason why so many experts advise homebuyers make a 20 percent down payment; if you do, you avoid the evils of paying.
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