Twelve Ways To Lower Your Homeowners Insurance Costs 3
Consumers Guide to Mortgage Refinancing 8
Would Refinancing be Worth It? 9
Refinancing Could be a Good Idea For Homeowners 9
Should You Refinance Your A.R.M.? 10
What Are the Costs of Refinancing? 10
Lenders, Attorneys Review Fees 11
Loan Origination Fees And Points 12
Appraisal Fees 12
Prepayment Penalty 12
Miscellaneous 12
When you buy a home...
Consider how much insuring it will cost. Because a new home's electrical, heating and plumbing systems and overall structure are likely to be in better shape than those of an older house, insurers may offer you a discount of 8 to 15 percent if your house is new.
Check its construction, too. Brick, because of its resistance to wind damage is better in the East; frame, because of its resistance to earthquake damage, better in the West. Choosing wisely could cut your premium by 5 to 15 percent.
Avoiding areas that are prone to floods can save you $400 or so a year for flood insurance. Homeowners insurance does not cover flood-related damage. If you do buy a house in a flood-prone area, you'll have to buy a flood insurance policy, too.
Does your town have full-time or volunteer fire service? And is your house close to a hydrant or fire station? The closer your house is to firefighters and their equipment, the lower your premium will be.
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