“The house I can afford meets my expectations.”
“I’m better off buying than renting.”
the cost of homeownership.”
“I have good credit.”
To get the best rates and the best results from lenders, you have to meet certain requirements.
Review what those requirements are and how well you might meet them.
There are advantages to owning a home, but there are also disadvantages.
Decide if owning or renting is the right choice for you.
Renters are usually extremely restricted, sometimes they can’t even repaint the walls.
If you own your home, the only restrictions are local building codes.
With a fixed-rate mortgage, you’ll be able to predict your monthly principal and interest payment amount.
Property taxes and insurance are the primary things that can change the monthly cost of your home. Renters, on the other hand, could face big rent increases each time they move or if their lease is renewed.
You can deduct mortgage interest and your local property taxes at tax time. That could save you a lot, especially in the early years of your mortgage, when your payments will be mostly interest.
Renters don’t get this tax break. Consult a tax advisor about your personal situation.
Depending on where your house is located, what kind of house you have and economic conditions, your house may become worth more than you paid for it.
Your credit score is a three-digit number that can range from 300 to 850.Most scores range from 600 to 700. A higher credit score increases your chances of getting approved for a loan and obtaining a lower interest rate.
CREDIT SCORES ARE CALCULATED BY THESE THREE CREDIT RATING AGENCIES:
• Equifax – equifax.com
• TransUnion – transunion.com
• Experian – experian.com
To get your free credit report,
go to: AnnualCreditReport.com
Your Agent can help you get started when you're ready!