Some people have not taken on a mortgage because they are uncomfortable with that commitment or they do not believe they can qualify for a home loan. Many lenders can work with a 580 credit score or higher. Contact me today if you would like to see if you can qualify to purchase a home. Kim@kimberlyberger.com. Unless you are living rent-free, you are paying a mortgage. You are either paying for yourself or for the owner of the home / apartment you are leasing.
Entrpeneur Magazine states…“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”
You will have the comfort and consistency if you are paying a 30 year fixed-rate mortgage, while a landlord can continue to raise the price of rent year after year. Think of your mortgage as a savings account in which you are building equity for a later date. If you are renting or leasing, you are only helping your landlord build equity.
Although interest rates have risen a little, they are still at record lows. It is still a remarkable time to get locked into a mortgage and move into your own home now. Regardless if you are looking for your dream home or a vacation getaway, there may never be a better time to make your fantasies a reality.
Information provided by KCM Crew