Renter's it is indeed time for homeownership!
If you are paying about $1200 ... or more a month, I may have the perfect solution for you.
I have encountered a significant number of people in the last few years that have rented their current home or a series of homes without ever having given serious thought to purchasing their own home.
Let's break this down!
If you would indulge me answer a few questions (for yourself of course).
1. Do you need to live some place? - Yes ... Everyone needs to live somewhere!
2. Is there a cost attached to that rental home? - Of course ... your monthly rent!
3. Are you paying your mortgage or someone elses? - You are paying the owners mortgage each month!
4. By living in someone elses home are you restricted in your use? In otherwords you can't paint a room or dig up a tree unless you get it in writting from the owner. - Tragically yes!
How would you like to live in your own home? Not just any home, rather a home in one of Coeur d'Alene's top neighborhoods. A full 5 bedrooms, 3 bathrooms 2 living areas and a 2 car garage and close to everything that CDA has to offer.
THE CALCULATION (all numbers are given as an example and may vary based on your unique credit score - talk to a licensed lender to discover your unique ability to determine your personal ability to obtain financing.)
A home that sells for $244900 with 20% downpayment leaves a balance of roughly $196000 to finance. If you could qualify for financing at 4.5% and put the 20% down or $49,000. The estimated payments may look something like this:
Principal & Interest estimate $995 mo.
Insurance estimate $60 mo.
Taxes estimate $140 mo.
Total $1195 a month
There are other programs that don't require 20% down, such as FHA or VA type loan programs. But how are you going to know unless you take the first step?
There are some added benefits of home ownership:
1. As a home owner you can take certain deductions on your taxes each year.
2. As a homeowner you can ensure that your monthly payments will not go up each year as they might if you were a tenant.
3. As a homeowner you can paint your walls any color that you like.
4. As a homeowner you will build equity in your home each year that you pay your mortgage down.
5. As a homeowner your home will likely go up in value over time and that will increase the amount of equity that you have when you decide to sell.
How would you like to live in this home:
It is time for ownership ... take the first step by calling to talk to me about how you can get into this home in the next 30 days.