Stock image of a couple holding keys to their new house

To buy or to rent… that is the question?

By Amy Nilson, Mortgage Loan Officer

I run into people all the time who say “I can’t afford to buy a home” and I immediately ask, “Are you sure?” Often a mortgage payment can be similar to what you pay for rent, but as a homeowner you add equity (home equity is the current market value of your home, minus what you owe) with each payment.

"But what about the hefty down payment needed?" Many young people believe they must rent until they build a small fortune to buy a house. While saving is never a bad idea, you might be surprised to know there are loan options with low to NO down payment, not to mention programs that allow for down payment assistance.

If you are feeling overwhelmed by the idea of buying a home, don’t be. Find a trusted mortgage loan officer sooner rather than later. Not all mortgage loan officers are created equal. Your mortgage loan officer should be knowledgeable on community assistance, grants, and home buyer education. It’s their job to help navigate the options to find the best loan for you.

Give us a call and we can guide you through the process and answer your questions along the way.

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