New construction homes are a good choice for a lot of people, because they can offer value and quality beyond what might be able to be found in homes that were built some time ago. The styles and preferences change over the years, and that affects the way homes are constructed, the kinds of features they have, the size of the rooms, and much more. With that in mind, it is important to understand what new construction has to offer, and the kinds of things a home buyer should look into before they choose a new construction home. With the right options, a new construction home can be an excellent choice.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
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When it comes to getting a mortgage, there are a lot of things to consider. One of those is how much of a down payment should be offered, or how much of one is actually needed. Fortunately for buyers who have not saved up a lot of money, there are some options for lower down payments. These generally include LMI, or Lender's Mortgage Insurance. This helps reduce the risk for the lender and protect their interest in the property when they loan money to the buyer. But what kinds of things should buyers know about LMI? Here are some of the biggest considerations all buyers want to look at where LMI is concerned.