Homebuying Made Easy

Let’s face it—buying a home can be both exhilarating and intimidating. Here’s how to make the journey as smooth as possible.
CHECK OUR PRICES

The Mortgage Guide for the First-Time Buyer

A no-nonsense guide for those taking the plunge.

What You Need to Know About Mortgage Interest Rates

Here's what goes into setting your interest rate—and how you can secure the lowest rate possible.

4 Things You Should Know About Your Down Payment

In which we bust some myths and spread some knowledge.

Buying a Condo, Or Renting an Apartment—How to Decide?

Ownership isn’t the only difference between the two scenarios.

Buying a Home? Here's 9 Steps to Follow

From browsing Zillow to closing on your dream home, we've got you covered!

The 10 Most Popular Types of Houses

Because “dream home” is in the eye of the beholder.

The Pros and Cons of Buying A Condo

Is a condo right for you? What are the benefits and drawbacks?

Home Loan

A home loan is an agreed-upon sum of money loaned to the borrower from the lender, for the purpose of buying a livable property. 

What Is Mortgage Pre Approval?

A pre-approval helps set you up for home buying success.

How to Buy Your First Home

An in-depth roadmap for the first-time homebuyer.

Landlord Insurance

Landlord insurance is a policy that covers property owners renting out their homes, condos, or apartments.

Private Mortgage Insurance

Private mortgage insurance (aka PMI) is required when a homebuyer pays a downpayment of 20% or less on their mortgage.

Closed Mortgage

Also known as a ‘closed-end mortgage’, this is a type of home loan that must be paid back within the agreed-upon conditions negotiated during the mortgage agreement.

Escrow

An escrow is a legal agreement in which a third party holds funds, paperwork, or other assets on behalf of two other parties during a property transaction.

Loan-to-Value Ratio

Loan-to-value ratio is a calculation of how much you are trying to borrow for a mortgage in relation to the appraised value of a property.

Broker Fee

A broker fee is a sum of money which a broker charges tenants in return for assistance in finding their future rental home.

Homeowner Insurance Binder

A homeowner insurance binder provides temporary proof of your homeowners insurance, until you receive your actual policy.

Mortgage Lock

A mortgage lock, aka lock-in-period, is a period of time where the interest rate you’ve been offered on your mortgage won’t change.

Discount Points

Sometimes referred to as ‘mortgage points’, are fees paid to a lender that can help lower the cost of your monthly mortgage payment.

Deed of Trust

In real estate, a deed of trust is a legal document that states a property will be held by a neutral third party until any loan is paid off.

Loan Principal

The loan principal is the original amount of money you borrow from a lender when you take out a loan.

Due-on-Sale Clause

A due-on-sale clause is a stipulation in your mortgage contract that requires you to pay off the remaining balance of the loan if you sell your property.

Loan Estimate

A loan estimate is a three-page document you receive from your lender after applying for a mortgage, which breaks down the costs.

Annual Percentage Rate

An annual percentage rate, aka APR, is the yearly interest rate and extra costs you pay on a loan.

Mortgage Insurance

Private Mortgage Insurance (aka PMI, or just Mortgage Insurance) protects a lender if a borrower defaults on their loan.

HOA Fees

Homeowners association fees (HOA fees) are monthly expenses paid by members of a residential community (like a condo) to maintain the shared space.

Home Appraisals

A home appraisal is an estimation of your home’s value, determined by a licensed, professional appraiser.

Balloon Payments

We'll be honest, it sounds more fun than it is.

Title Insurance

Title insurance protects you against any errors in record for who is listed as a registered owner of your home.

Home Inspection

A home inspection is an official assessment of the state of a house, apartment, or any other livable property. Usually, it’s carried out during the closing of a home sale, but it can also be done before a home has even been listed.

Closing Costs

Closing costs is a real estate term describing the additional expenses a buyer might pay over and above the purchase price of the property.

Real Property

In homeowners insurance, real property refers to land, and any structures attached to it like your fence, garage, garden, including your house.

What Is a Homeowners Association?

A homeowners association (HOA) is an organization of residents from a community seeking to keep common areas in order and maintain a certain quality of living.

Co-op Insurance

Let's take a close look at an HO6 policy.

How We Got Here: Steven & Morgan

After saving diligently during lockdown, this couple took the plunge.

Refinancing Your Home: Things To Consider

What is refinancing, and why should you care?

How We Got Here: Dan & Charishma

From New York to LA: This couple found bliss in Playa Vista.

How We Got Here: Angela & Jon

First-time homeowners renovate a fixer upper in leafy Norwalk, CT.

How We Got Here: Panar & Pablo

First-time homeowners find a gem in an up-and-coming Houston neighborhood.

The Stress-Free Guide to Moving

Here's what you need to know before you move.

Your Complete New Home Checklist

Once you've waved goodbye to the moving company, but before you pop that champagne, there are still a few things to take care of.

Your 7 Step Guide to Buying a Condo

How to buy a condo, without the stress.

7 Things You Should Know Before Buying a Home

Tips sourced straight from first-time homebuyers.

5 Expert Tips on Saving for Your First Home

How to save up for a house, according to the experts.

Millennials Buying Homes? Debunking the Myths

We've rounded up stereotypes about millennial home buying trends to set things straight.

How to Pack for a Move Like a Pro

Packing up and moving isn’t easy. Here are some tips and tricks that will help you pack like a pro—so less goes wrong on moving day.

Moving Insurance, Explained

Moving is nerve-wracking. Make sure you get the right insurance for the big day and make the process stress-free.

What's the Deal With Homeowners Association Rules?

Here’s what homeowners should know about the ins and outs of the most common HOA rules.

The Complete Guide to Home Inspections

You're almost a homeowner—but first, it's time for an inspection

Please note: Lemonade articles and other editorial content are meant for educational purposes only, and should not be relied upon instead of professional legal, insurance or financial advice. The content of these educational articles does not alter the terms, conditions, exclusions, or limitations of policies issued by Lemonade, which differ according to your state of residence. While we regularly review previously published content to ensure it is accurate and up-to-date, there may be instances in which legal conditions or policy details have changed since publication. Any hypothetical examples used in Lemonade editorial content are purely expositional. Hypothetical examples do not alter or bind Lemonade to any application of your insurance policy to the particular facts and circumstances of any actual claim.