first time home buyer: Why Rent in Pasco WA when you can Buy with a USDA loan?
- 06/23/11 07:44 AM
Free government money is not something to be looked upon lightly!No down payment USDA loans not only save you the upfront costs of house ownership, but you also gain the tax benefits of a mortgage and begin to build wealth through equity. The government, through the USDA, has dedicated itself to building up rural areas, and offering substantial benefits to the people who help them accomplish this. Normally the mortgage vs rent argument is a closer one, but with benefits like these, the decision becomes much more cut and dry.A USDA loan also comes without the need for purchasing expensive mortgage … (2 comments)
first time home buyer: The Importance of Paying Your Rent by Check
- 07/31/07 05:30 AM
Many potential homeowners make a huge mistake by paying their monthly rental payment to their landlord in cash. Why is this a mistake? Many lenders will require 12 months cancelled checks to verify timely rent payments. If you only pay your rent with cash there will be no way to document a rent payment history. Some lenders will accept a VOR or Verification Of Rent that is filled out by your landlord. A VOR is basically a written rent history statement endorsed by the landlord. Fannie Mae loans and FHA loans will accept a Verification of Rent(VOR) filled out by your landlord. Many … (0 comments)
Free government money is not something to be looked upon lightly!No down payment USDA loans not only save you the upfront costs of house ownership, but you also gain the tax benefits of a mortgage and begin to build wealth through equity. The government, through the USDA, has dedicated itself to building up rural areas, and offering substantial benefits to the people who help them accomplish this. Normally the mortgage vs rent argument is a closer one, but with benefits like these, the decision becomes much more cut and dry.A USDA loan also comes without the need for purchasing expensive mortgage … (2 comments)
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