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Listening Time: English Practice
English Listening - Buying a House
Sep 4, 2023
Explore the process and costs of buying a house in the US, the importance of practice in understanding native speakers, types of mortgages and down payments, the role of real estate agents, tips for better sleep with Sleep Number, and the expense and hidden fees of buying a home in Southern California.
33:17
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Quick takeaways
- When buying a house in the US, most people need a mortgage, which can be a conventional loan or a government-backed loan with a lower down payment.
- Owning a home in the US incurs additional costs such as property tax, homeowners insurance, HOA fees, and maintenance expenses.
Deep dives
Types of Mortgages and Down Payment
When buying a house in the US, most people need a mortgage, which is a loan specifically for houses. There are conventional mortgages, which are ordinary loans, and government-backed loans, where the government ensures the loan. The down payment, the upfront money needed to buy a house, is usually 20%, but it can be less. However, if you put less than 20% down, you may have to pay mortgage insurance.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode