First-Time Buyers

February 13, 2014

Stop Renting, Start Owning

When you purchase a home, you own it. The money you pay each month towards your mortgage builds equity in your home. When you make your rent payment each month, it builds your landlord’s equity. Essentially, when you are making those rent payments, you are throwing money away. When you move out of an apartment that you have been renting you don’t get money back; however, when you move out of a home that you own, you get back the equity you have built up. Check Westmont area for mortgage rates.

By taking the plunge and purchasing a home and making your monthly mortgage payments, you have made yourself a built in savings plan. The more equity you have in your home when you sell it the larger profit you can see.

If you opt for a fixed rate mortgage, you can count on payment stability. If you choose a 30 year fixed rate mortgage, your mortgage payment will be the same every month for 30 years. Whereas if you choose to rent an apartment your landlord has the final say in what your rent payments are, and depending on your lease can change at any time.

Contact us below or at 708-531-8388 and see how you can stop renting and lock-in a low rate mortgage.

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