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Should you keep renting, or is it time to buy?

By
Mortgage and Lending with Cambria Mortgage NMLS 274132

Minneapolis, MN: Should you keep renting, or is it time to buy? That is a question may people are asking right now.

You have to live somewhere, and that somewhere almost always should be your own home, plus the benefits of homeownership generally mean, no matter what is going on in the real estate markets, you should buy a home NOW vs waiting.

Home prices continue to climb, with no sign of going down. Mortgage interest rates are higher than just a few years ago, but you can always refinance to lower rates when they come back down, and they will come back down once inflation gets under control.

Ever wonder what you could purchase for the amount you are spending in rent each month? 

We have a handy free tool that will give you an idea of what a monthly mortgage payment might look like and some of the benefits of home ownership that may lower it's real cost. Just click the green GO button to see your own numbers.

Should you rent or buyLike what you see? - Get Pre-Approved Today

With over 50-years combined experience, multiple local, reginal, and national awards, the Joe Metzler Team of Joe and Eric Metzler at Cambria Mortgage are your local Minnesota based Trusted Advisor, serving Minnesota, Wisconsin, Iowa, North Dakota, South Dakota, and Florida.

Ready to find a home in today's market?  Our mortgage experts are happy to provide a no obligation application review, along with an initial soft pull credit report, which has no impact on your credit score.

Cambria Mortgage Loan ApplicationCall (651) 552-3681, or Apply Online Today

Equal Housing Lender. NMLS 274132, 322798.  We lend in the following states: MN, WI, SD, ND, IA, and FL. This is not an offer to lend or to extend credit, nor is this a guaranty of loan approval or commitment to lend. The information here may not be up-to-date and may no longer be accurate. Products and interest rates are subject to change at any time due to changing market conditions. Actual rates available to you may vary based upon a number of factors. Consumers must independently verify the accuracy and currency of available mortgage programs. All loan approvals are subject to the borrower(s) satisfying all underwriting guidelines and loan approval conditions and providing an acceptable property, appraisal and title report. (C) 2023 Joe Metzler. 

 

Comments(3)

Joseph Lorenzo
Frank Rubi Real Estate LLC - Harahan, LA
Your Law And Order Realtor

Great Post Joe.   I think if you can financially, you should always buy.   When you rent you get zero return on your money.   I just resold a home for a client who lived in the home for 2 years and at the closing walked away with a check for 100K.  And this was on a home they orginally bought at less than 350K!  If they had rented they would have lost money.   ALWAYS BUY IF YOU CAN!!!  

May 17, 2023 12:35 PM
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

when I work with first time home buyers I like to explain it's not just about trading the amount you pay for rent for a mortgage because there's so much more... repairs, emergencies, taxes, special assessments.  I believe some people should always rent.

May 17, 2023 12:42 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker
Great information, thanks for sharing.  I hope you have a great day.
May 18, 2023 02:38 AM