It Pays To Buy VS Rent
The recent KCM article “Don’t Get Caught in the ‘Renter’s Trap’ might surprise hopeful home buyers. http://www.keepingcurrentmatters.com/2014/08/27/dont-get-caught-in-the-renters-trap/ Written by The KCM Crew on August 27, 2014
“If you are currently renting you could get caught up in a cycle where increasing rents continue to make it impossible for you to save for a necessary down payment. ZillowChief Economist Dr. Stan Humphries explains:
“The affordability of for-sale homes remains strong, which is encouraging for those buyers that can save for a down payment and capitalize on low mortgage interest rates… As rents keep rising, along with interest rates and home values, saving for a down payment and attaining homeownership becomes that much more difficult for millions of current renters.”
Don’t miss out on buying now because you think you aren’t qualified for a home loan.
Find a good local Lender and start yourself on the road to getting pre-qualified for a home loan.
The above blog lays it out pretty clearly.
I like to help spread the truth that there are more loan options for hopeful home buyers and it starts with finding a good local lender to take the first step and ask the question, “Am I qualified?”.
And some who aren’t qualified immediately could in the near future so a private money loan could be the option to get you out of a rental now, improve your credit or loan qualification situation, and then refinance in the near future. You’d be surprised how many don’t realize how cost effective it really is – in the long run.
Lynn Tardibuono is Co-Owner/Hard Money Loan Originator & Realtor® of Sun Pacific Mortgage and Real Estate, family owned and run since 1988 in Northern CA. P.S. We love referrals!www.sunpacmortgage.com. BRE license #01464899/NMLS #360993
The content of this blog contains general advice only and does not consider individual financial circumstances, desired loan amounts or existing real estate or lending transactions. This information is intended for licensed Real Estate Agents and licensed Lenders/Mortgage Brokers and is posted on our company website and specific blog sites with the express purpose of reaching such licensed individuals.