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.
Are you ready to buy a home? Reach out and we can talk about the homebuying process. You will want to meet with your loan officer and figure out what you can qualify for. Once you know what you can afford, you will meet with your realtor and determine your wants and needs. Sharlene and I are always willing to meet with you and help you through the process!
Leslie Vanderwerf, NMLS ID#335509, CrossCountry Mortgage LLC, An Equal Housing Lender, NMLS#3029 – Email – Website
