Need-To-Know Information For Any Renter Looking To Buy a Home
If you're incredibly tired of renting a home and would like to buy your first home by this time NEXT year, this is the blog for you. Our mortgage lenders at the Lake of the Ozarks understand how tough it can be to rent in this area. Not only can rent prices be extremely high, but a lot of frustration can come with renting. For example, when you rent out an apartment, you have no clue who your neighbors or control over who your landlord chooses to move in next to you. You also have no control over when your landlord decides to increase your rent or whether or not pets are allowed in your building. Sure, there is less financial responsibility involved when you choose to rent over buy, but if you're currently in or would like to be in a good financial place so that you CAN buy a home, keep reading. The rewards can be SO worth it. Our mortgage loan company in Osage Beach is here to give you some NEED-TO-KNOW information every renter should have who is looking to buy a home, in this week's blog. If you have any questions, please do not hesitate to give us a call. MHQ - Mortgage Headquarters can be reached at (573) 302-9990.
Need-To-Know Information For Any Renter Looking To Buy a Home
HOW MUCH MORTGAGE CAN YOU AFFORD?
Based on your current rent, find out how much of a mortgage you could afford.
Renter Affordability Calculator
This calculator will estimate the size of a mortgage you could afford based on the size of your monthly rent payment, the downpayment you could afford, and on the anticipated property taxes and homeowner's insurance.
WOULD IT BE CHEAPER FOR YOU TO BUY RIGHT NOW RATHER THAN RENT?
Factor in things such as interest, property taxes, tax savings, appreciation, opportunity costs, closing costs, and selling costs to see the real difference in renting versus buying.
This calculator will help you to compare the costs of renting to the costs of buying a home. Since there are all kinds of forces at work behind the scenes (interest, property taxes, tax savings, appreciation, opportunity costs, closing costs, selling costs, etc.), comparing the cost of renting to the cost of buying is a lot more complicated than just comparing the monthly mortgage payment to the monthly rent payment. This calculator attempts to forecast the net effects of all the hidden forces so you can make an informed decision.
CAN YOU SAVE ON TAXES IF YOU CHOOSE TO BUY?
Find out how much someone currently renting can save in taxes this year if they decide to purchase a home.
Tax Benefits Calculator for Renters
Estimate the tax benefits of buying a home versus renting.
Are You A Renter Looking To Buy a Home?
We hope you found this blog enlightening and helpful! We understand that you may have a lot of questions about the home loan process if this is your first time buying a home. We are here for you! Please give us a call today at the phone number listed below.
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