Stop Paying Rent and Own Your Own Home

Would you like to own the home you’ve always wanted for you and your family? How much are you paying each month in rent? How about each year? And what do you have to show for it?
Chances are, you’re paying anywhere from $6,000, $10,000, maybe even more each year in rent. Instead, you could be putting that money into a home that you can call your own. Buying a home means building equity. There’s no equity in paying rent for an apartment.
If you have concerns about the path of homeownership, let’s take a closer look. Common concerns include not having enough cash for a down payment, not getting approved for a mortgage, struggling to find a home within your established budget, and having a low credit score and not knowing what to do to improve it.
Working with a realtor can help you to navigate through these concerns. You need to know your options.
Mortgages and the mortgage process itself can be complicated and confusing. Working with a realtor can help you to work through the process. A realtor knows the right questions you need to ask when applying for a mortgage to help you to get approval the first time. Get pre-qualified for your mortgage before you buy your home – your credit and income are verified ahead of time. This will help you to know how much you can spend on a home, how much money you need for closing, if you need to consolidate debts, what your credit score is (and is it sufficient?), and most importantly how much money you are saving by owning a home rather than continuing to pay rent.
Your realtor can also help you to find out about different types of loan programs that may be available to you. Some of these include: FHA programs, special programs through the VA for Veterans, and USDA programs in rural areas.
Now, how are you going to find the cash for the down payment? You may already be saving for that down payment, but there could be other resources available to you to consider. Sources of cash for a down payment could come from income tax refund checks, checking and savings accounts, cash value of life insurance policies, gifts from family, 401k savings, IRAs, and more.
In addition, you may qualify for first-time homebuyer tax credits. The federal government, your state and even your city housing agencies may offer tax credit for first-time home buyers. Be sure to ask what’s available to you now, and whether you qualify for the thousands of dollars that are available every year.
The best plan when buying a home is to plan ahead to be in the best financial position before you buy. Tine will work in your favor. Over time you can save cash for your down payment, and over time you can work to improve you credit score – this will help you to get a better mortgage rates. 
Stop paying rent and own your own home. Call me today! I can help you start the process! 610-413-0520


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