Esperanza

Homeowners Association Fees (HOA) are used to assist with maintaining the HOA common property within the community as applicable (i.e. pools, playgrounds, common areas, gates, streets, amenities, insurance, management fees, etc.)

Common Development District Fees (CDD) are used to pay for the financing of the development of infrastructure and ongoing maintenance within a community as applicable (i.e. roads, utilities, amenities, etc.)

Mortgage insurance protects lenders from losing money if you default on the loan. Most lenders require private mortgage insurance (PMI) for conventional loans when the home buyer makes a down payment of less than 20%. All FHA loans have mortgage insurance, regardless of down payment amount.