There are some people that have not purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage - either yours or your landlord’s.
AsThe Joint Center for Housing Studies at Harvard Universityexplains:
“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return.
That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”
Christina Boyle, a Senior Vice President,Head of Single-Family Sales & Relationship Managementat Freddie Mac, explains another benefit of securing a mortgage vs. paying rent:
“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”
As an owner, your mortgage payment is a form of‘forced savings’which allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person with that equity.
Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home.Freddie Mac’slatest report shows that rates across the country were 3.43% last week.
Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.
Author:Future Client Phone: 480-838-9613 Dated: August 25th 2016 Views: 783 About Future: ...
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When, after looking at many, many possible properties, he took us to the home we purchased and made that experience go so smooth.......we needed to close in 3 weeks, which we did, and he walked everything thru quickly and all went simply great. We also had Mark Ulloa help us buy a small house so our kids could live close to us. This also was done expertly and with ease. I couldn't think of any other Realtor who could have handled our needs any better.
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We met Mark Ulloa from online ads and were trying to start the looking/buying process ahead of coming to Casa Grande to buy a house. He worked with us for many weeks, and when we came to the area and met with him, he had 5 days filled with possibilities. We were so pleased with his ability to listen and try to find what we were looking for. We did so on the 5th day. He put it all together within the 3 week time for closing etc. We couldn't have had a better experience. We have purchased homes in other states before much like this one, and can honestly say this was our best experience yet. We highly recommend Mark Ulloa and know he will give you the best service.
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