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Select A Department:
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Courses in this Department
Step 1 - Planning
Step 2 - Financing
Step 3 - Selecting
Step 4 - Buying
Step 5 - Owning
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TERMS TO KNOW
- Homeowner's
insurance
- An insurance policy that protects a dwelling and its contents
from personal liability and damage. Sufficient coverage is required by lenders.
- PMI
- Private
Mortgage Insurance, which protects the lender in case of default by the borrower.
PMI
is often used when buyers obtain financing with less than a 20% Down
payment.
- Property
Tax
- A charge imposed on the assessed value of real estate, to be used to
support the State or municipality who in turn utilizes the funds in the best Interest
of the general public.
Click on the glossary icon to access the complete glossary of terms.
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