renting vs buying: Renting vs Buying -- Knowing your loan options & what it would take to buy -- Part 3 of 3
- 10/05/10 02:13 PM
So you have been weighing your options in regards to either renting or buying. It looks like you after thoughtful consideration and planning, that you want to buy a new home. You are now excited, just thinking about this daily. You finally will own your own home and be a proud homeowner. You now need to speak to a loan officer, if you haven't already done so, to help you with the rest of the process and to qualify you. Word of Advice : Don't start to look at any homes until you have been fully qualified and know what … (9 comments)
Figuring out the differences between renting vs buying a home can be stressful. I gave you some pros and cons of buying a home in Part 1. Things seem good, because you are learning how to break this down. That's great...... Tip : Keep your focus and don't be talking to too many people outside of the loan officer that you are speaking with. That's if you have picked one by now. And by this, I mean don't ask in depth questions … (8 comments)
In today's economy, you will hear many different rhymes of reason why to rent now or why to buy a new home now. Ultimately it comes down to your own decision and you should only use such news with caution. You might have heard some say, don't buy now because home values will decrease another 5% to 20%. Remember, real estate is local. In some areas, home values have already increased by 10%. So get to know your area and speak to a qualified realtor about this. Here is a good post showing you even if home values dropped, … (14 comments)
So, you have been told that you qualify for a home. You are so excited, just thinking about this daily. You finally will own your own home with a piece of property. To be a proud homeowner. You have been told by many to just ask for a 30 year fixed rate. Maybe you don't have much money to work with. Maybe you have 30% to put down on the property. You actually know that this is a starter home and that you will probably only be in the house for 4 to 5 years, because you would also … (9 comments)
renting vs buying: Renting vs Buying -- Showing the difference in $$ -- Part 2 of 3
- 10/26/08 06:57 AM
FYI -- There is still money to lend. Stop listening to the media and to some lenders. Yes, it's tough to get a conventional loan if your credit scores are below 700 and putting 10% or less down. But getting a FHA Loan is not as hard as percieved. FHA loans might be the way to go.
Okay, so I gave you some pros and cons of buying a house in Part 1. You seem to be feeling good and confident. That's great...... Tip : Keep your focus and don't be talking to too many people … (6 comments)
Are you throwing money out the window by renting? More than likely, yes. But this can be a complicated decision based on several different factors. Sure, you can try the many rent vs buy calculators online, but I have found so many not to be the same as the first one.
When should you not buy a home? If your rent is very low. (usually 2/3 or less of your monthly payment) You intend to move in a few years. (unless you get into the house with no money out of pocket) Is this statement, "throwing … (12 comments)
renting vs buying: Renting vs Buying -- Knowing your loan options -- Part 3 of 3
- 06/21/07 07:58 PM
So you have been told that you qualify for a home. You are so excited, just thinking about this daily. You finally will own your own home with a piece of property. You have been told by many to just ask for a 30 year fixed rate. Maybe you don't have much money to work with. Maybe you have 30% to put down on the property. You actually know that this is a starter home and that you will probably only be in the house for 4 to 5 years, because you would also like to have another child. GOALS..... I … (8 comments)
renting vs buying: Renting vs Buying -- Showing the difference in $$ -- Part 2 of 3
- 06/19/07 01:52 PM
Okay, so I gave you some pros and cons of buying a house in Part 1. You seem to be feeling good and confident. That's great...... Tip : Keep your focus and don't be talking to too many people outside of the loan officer that you are speaking with. That's if you have picked one by now. And by this I mean don't ask in depth questions to your parents, friends, neighbors, etc, etc. There is a reason for this. Programs change yearly and so does the way of financing. The biggest thing, rates can change daily! What your friend … (11 comments)
renting vs buying: Renting vs Buying -- Understanding the difference........ FHA? -- Part 1 of 3
- 06/18/07 02:38 PM
Will a FHA loan help you? It's very possible and we'll talk more about that later. Are you throwing money out the window by renting? More than likely, yes. But this can be a complicated decision based on several different factors. Sure, you can try the many rent vs buy calculators online, but I have found so many not to be the same as the first one. Talk to a mortgage professional.
When should you not buy a home? If your rent is very low. (usually 2/3 or less of your monthly payment)You intend to move in a few years. (unless you get … (19 comments)
I just want to educate people about mortgages and the process.
In regards to lending, I am very creative, intuitive, honest, and one who communicates information, may it be good or bad. I am a loan officer that looks out for your best interest.
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