Funders Residential Mortgage NMLS:296216
Rent vs Buying a Home
Stop Paying Your Landlord's Mortgage!
It's staggering when you think about the cost of living, especially if you're a renter and not a home owner. If you are currently paying $1,000 a month for rented housing, then over the next three years, your property management company or Landlord will effectively have reaped $36,000 of your hard earned cash! You're paying their mortgage when you could be building equity in your own property.
It's staggering when you think about the cost of living, especially if you're a renter and not a home owner. If you are currently paying $1,000 a month for rented housing, then over the next three years, your property management company or Landlord will effectively have reaped $36,000 of your hard earned cash! You're paying their mortgage when you could be building equity in your own property.
What if I don't have the money to buy a home right now?
There are many loan programs available that offer low and no down payment options. If you have a good rental history and manage your bills on time you are considered a good risk to many Lenders, Some programs permit gift money as a down payment, and often sellers are willing to make a contribution to pay your closing cost on your purchase if they want to sell the home quickly.
There are many benefits of home ownership to consider, most of all, tax deductions.
With todays interest rates near record lows, some of our clients New House payment are equal to or less than they were paying to their Landlord.
Plus there is benefit to most of us of Tax Deduction on Mortgage Interest.
Many people us thier Tax deduction to fund a Retirement program such as an IRA.
How much is tax deductible?
Tax deductions vary, but the IRS has laid out solid rules. They also have several tax publications full of helpful information worth taking the time to read. Publication 530, Tax Information for First-Time Homeowners, is very thorough, as is Publication 936, Home Mortgage Interest Deduction. For quick reference, you can refer to Tax Topics 505, Interest Expense, and 504, Home Mortgage Points.
These publications often refer to local and state guidelines, so you may want to consult a CPA to answer all the questions that arise from reading these materials.
Call me to discuss your specific needs and we'll find the Home Loan program that's right for you. We have a variety of low down payment and no down payment programs available. Isn't it time you became a home owner instead of a Renter?
Contact us for more details!
Funders Residential Mortgage
NMLS # 296216
1700 Hamner Ave. Norco CA 92860
951-278-3444
Fax 951-755-2444
The Intelligent Choice
