Mortgage increase after first year
Another thing to keep in the back of your head......
IF you do get a mortgage, they will be paying your homeowner's insurance after the first year. We were "surprised" when the bank informed us of a deficit in our escrow account and our mortgage suddenly went up an additional $200 a month! That is a big jump for anyone on a truly "fixed income"....especially when you think you've got it all figured out!!
They did tell us that it would probably drop next year because they usually over estimate.
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