While the idea of paying a monthly mortgage is incredibly daunting or even impossible for some, we must remember that we probably are already paying a mortgage and we aren’t even aware of it.
“Wait, how? I pay rent every month, I’m not paying a mortgage.”
WRONG! You are paying a mortgage. Your landlord’s mortgage.
Renting temporarily isn’t the worst thing in the world, but you owning your home actually helps increase your own wealth over time. When you are paying rent, you are increasing your landlord’s wealth and in turn, making them rich instead of yourself. Mortgages are “forced savings” which allow you to build equity which you can tap into later in life.
Many renters are concerned about their ability to purchase a home. Maybe they don’t have 20% to put down or may not have the best credit score.
The good news is that owning a home has never been easier. We are seeing some put as low as 6% down and loan officers working with those with less desirable credit scores. To add, interest rates are at historic lows, purchasing now will lock in that rate and keep your monthly mortgage payment remain lower.
There are options out there for you to own a home. You won’t know what you are capable of owning until you speak to a realtor and loan officer. The Westbrook Realty Group works with you and your budget to get you into a home you can afford.
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Your local Real Estate Expert in DFW Frisco Metro Area and all of the surrounding communities. You now have free access to DFWFrisco Real Estate Home Search! Google, Call or Text me Today and let’s discuss how I can help YOU! Ashly Westbrook– 214-558-8773