There’s no doubt about it—buying a home is a big investment. You’re on the hook for a long-term mortgage, and responsible for repairs and any other unforeseen expenses.
But don’t get discouraged. If you have strong money management skills (and cash saved up), you may be ready for homeownership.
Buying a home is a common undertaking for many Americans, but it's also one of the most complicated — not to mention costly — purchases adults will ever make. It's important to understand these 10 essential terms so you're ready to make smart decisions with your money.
With mortgage rates expected to increase, potential homebuyers should consider economic forecasts.