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, over the next three years your property management company will effectively have reaped $36,000 of your hard earned cash.
You know your rent will go up. Even if you live in an area that has rent control regulations. You're paying the mortgage for the property owner, when you could be building equity in your own real estate investment.
The tax deductions available to homeowners vary. Real estate taxes, mortgage interest, pre-paid interest, and interest on construction loans are all things to take into consideration as tax benefits.
If you or someone you know is currently renting, I urge you to call me to discuss the many low down payment and first time home buyer down payment assistance loan programs that are currentlyavailable to prospective home buyers. My team and I work to ensure the client's long-term goals are met.
How to Shop Mortgage Rates
View this in 1080 HD by clicking next to "CC" at bottom
North County
*1902 Wright St 2nd floor Carlsbad CA 92008
New Office!
5360 Jackson Drive #220 La Mesa CA 91942
Nevin Williams NMLS #69651
*Not a licensed office location
Fast - efficient - competitive
www.SanDiegoHomeAndLoan.Info
The problem here locally is that most of the affordable housing (condos and townhomes) will not qualify for FHA financing!
Nevin - Like Vickie, we have real problems gettin owners into properties that are affordable, when we have cash investors snapping up properties like mad. In some cases, they are getting the properties that we couldn't finance FHA - but they are unlikely to wait to be able to sell them to the FHA market either ... another buyers' catch 22!
Nevin - LOL I just did a post on how some renters are just not meant to be homeowners. We can only help the ones that are capable of being helped.
Nevin seriously, I mean the last time the interest rates were this low I think FDR was president. I mean when I bought my first home I was happy to get just under 12%!
Vickie - In your case I understand. The SF bay area is one of the most expensive places in the world. In many areas this applies. Thanks!
Jack - Good problem to have!
Donne - I hear ya and agree!
Larry - I thought I was groovin when I scored a 30 year fixed rate on my first home of only 9.5%!
You are so correct! Move in costs on a rental home here are about 250% of rent. With rental prices in many areas still higher than what a mortgage would cost monthly - if you can get a savvy REALTOR (R) to write in your closing costs - you are STILL paying the same amount (or just a smidge higher) with your down payment if you qualify for FHA!
Here stability is important if you want control of your own destiny (like not having to worry about what the LL is going to think of if you buy a pet or if they are going to quit paying THEIR mortgage all of a sudden forcing you to move!)
Renee - I have seen a lot of lanlords quit paying and suddenly the renter is forced to move out even though they have been paying their rent on time! I'd rather own thank you
Just remember that the best reasons to buy a home are to live in it, raise a family in it, retire in it, and perhaps even die in it!
Some folks have no desire to own a home. There are reasons to not buy. Not everyone is looking to stay in one place for more than a couple of years.
Jim - Absolutely true! it helps that one can build a nice nest egg and not have to worry about paying for a place to live in their retirement.
Gary - True. Some folks have no need for a Realtor's services either but it doesn't stop Realtors from advertising the benefits of home ownership. This ad is targeting those who DO want to enjoy the benefits of buying. If renting is in someone's best interest then they can choose to not read this.