"Off to a GREAT START! I'm Looking forward to working with you!" (Edward H.)
Yes, interest rates are still at a historic low but that's not a good enough reason to buy a home.
It doesn't matter if you are a first time home buyer or not. Buying a home is a huge commitment and you should make sure you're working with a lender that knows enough about you and the industry to make sure you are getting into the right program for you, and helping you take advantage of your options. But the most important thing to do first in the home buying process is get pre-qualified!
SIGNS BUYING A HOME IS RIGHT FOR YOU:
- You can afford a down payment.
- You plan on staying in the same town for five or more years.
- Your monthly mortgage payment would be 28% or less of your monthly income.
OWNERSHIP ADVANTAGES:
- TAX BREAKS - There are income tax deduction possibilities.
- EQUITY - Consider the opportunity to profit from ownership.
- PRIVACY - The ability to create a personal oasis
- PERSONAL STYLE - Express yourself through your home's interior and exterior decor.
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"Do not begin looking at houses until you go through the loan approval process. You want to make sure that, financially speaking, the horse is in front of the cart. The lender will tell you what's affordable so you're not elevating your hopes without knowing."
- Jan Patrick (Realtor of 22 years - Wilmington (Del.) News Journal)
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