It’s Not Just the Key to Homeownership — It’s the Key to Your Future
Along with buying a car, investing, and saving for retirement, the most important financial decisions you’ll make is when you buy a home. Homeownership can provide many great benefits.
- Appreciation. A home is a long-term investment. Many homes increase in value as the debt attached to them decreases, and many types of improvements may add to the total value.
- Ownership. When you buy a home, you’re investing in an asset over time — an asset you have a stake in. When your loan is paid off, you’ll own your home and will have built equity in it.
- Home Equity. When you build home equity, you’ll also have an option to borrow against it to gain access to funds through refinancing or a home equity line of credit. This may give you added flexibility if you’re looking to consolidate debt, make home improvements, pay for college tuition, or supplement your retirement income.
- Stability. Rent costs can change dramatically, but with a fixed rate mortgage, you’ll know what your payments will be throughout the life of the loan. This keeps payments consistent and stable.
- Deductions. Mortgage interest and property taxes are usually tax deductible. Other aspects like points and application and appraisal fees may also be deductible. Consult a tax advisor for further information.
Homebuying Process
- Meet with your mortgage lender
- Find a home
- Make an offer
- Go through appraisal and final underwriting
- Closing
Find a Home
Meet with your real estate agent to determine your wants and needs. Go in search of your perfect home 3 to 6 months before you intend to buy.
Your agent can help you be realistic about “perfect”:
- Cosmetic fixes vs. structural issues
- Quality of the schools
- Proximity to major interstates and public transportation
- Neighborhood crime rates
- Property taxes
Ready to Buy a Home? Get Started Today
There’s no time like right now to find out if you qualify. Getting pre-qualified for a mortgage is easy — there are only 5 questions that can be readily answered without documents or files. We’ll just need your contact information so that we can help you start the loan process. There’s no obligation, so let us know how we can help you buy a home.
Leslie Vanderwerf, NMLS ID#335509, CrossCountry Mortgage LLC, An Equal Housing Lender, NMLS#3029 – Email – Website
