If you select a mortgage loan offer that requires a down payment of less than 20%, the lender will most likely require you to:

Purchase a home warranty policy

Purchase private mortgage insurance

Make a balloon payment

Find a cosigner for the loan

The estimated monthly payments for a single-family dwelling typically include the transactions

loan principal and interest, property taxes, and homeowners insurance (PITI)

loan principal and interest only (PI)

loan principal and interest and property taxes (PIT)

loan principal and interest, property taxes, home insurance, and realtor fees (PITIR)

In contrast, the estimated monthly payments for a condominium typically include the transactions

The same elements as that required in the purchase of a single-dwelling house

Loan principal and interest, property taxes, home insurance, and realtor fees (PITIR) plus any homeowners association fees

None of these

Loan principal and interest plus any homeowners' association fees

Homeowners' association fees for a condominium unit cover all costs except

management and upkeep of the common grounds and outside of the buildings

the upkeep of amenities such as the pool, tennis courts, gym, and clubhouse

insurance on your building

insurance on your personal belongings within your unit