Buying a home is exciting, whether it’s your first house or your fifth, but it’s also a big commitment. And after you’ve closed on your new home, the responsibilities of homeownership are really just beginning. That’s why it’s important to understand all that being a homeowner requires—both now and throughout the life of your loan.
you have commitments to your:
|You agree to pay your mortgage payment (on time and in full) every month. If you have trouble paying your mortgage or think you might, you're expected to contact your mortgage company for help.|
|You agree to pay your local property/real estate taxes (on time and in full).|
|You agree to pay for all needed upkeep and maintenance and be a positive asset to the neighborhood and community.|
|You agree to maintain the safety and soundness of your home keeping it insured and in good condition.|