When it comes to the average cost of living, all U.S. states are definitely not created equal. And it’s not just the obvious things, like buying a new home or how much date-night for two usually costs. Plus, the recent tax reform law impacted property taxes at the individual county level as well as across different states. This year, homeowners in politically blue counties will pay nearly 2x more in property taxes compared to politically red counties. That cost difference is no joke — and it could play a big role in choosing where to purchase your home.

Are mortgages as American as apple pie? It seems so. According to MarketWatch, financial institutions in the U.S. hold around $10 trillion of mortgage debt on family residences. Given this number, perhaps it’s not surprising to learn many of us have not one, but two home loans. Below, we list some second home mortgage pros and cons.

When you begin the process of purchasing a home, you may feel like you’re learning a whole new vocabulary. What does it mean to be prequalified for a mortgage? What about prequalified vs. preapproved — does that make any difference? And why does HGTV spend so much time talking about open concept kitchens, and so little time explaining mortgage terminology? Don’t despair! While the process might seem complicated, it’s not that hard to learn everything you need to know.