A mortgage rate matters, but it does not tell you the full cost of owning a home. Your monthly budget should account for principal and interest, property taxes, homeowners insurance, and any applicable mortgage insurance and association dues.
Some costs may be collected through your mortgage payment; others may be paid separately. Ask how the payment is structured and what expenses could change over time. Contempo Lending can help you understand the figures so you can compare homes with a more complete budget.
Contact Contempo Lending at 760-778-5111 or visit contempolending.com.
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