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Ever heard of renters trap? It's an industry buzz phrase used to identify those of you who are currently renting a house or apartment and feel that you could never afford a home of your own simply due to the fact that you do not have the adequate savings for a down payment on a mortgage or perhaps you may be experiencing credit problems.
My advice - Stop paying your landlords' mortgage and speak with me! Now before you run right out and put stop-payments on your rent checks, let me explain...
In the past 2 years I have personally helped quite a few families to realize their dream of home ownership.
Please browse through this page that simply outlines a few important facts about homewonership, and see for yourself how I can help. When you're ready, or if you have any questions whatsoever, I am only a phone call or email away.
Are there any benefits in home ownership VERSUS renting?
Absolutely! Quite a few:
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Building equity
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Appreciation over time
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Tax deductions - both mortgage interest and real estate property taxes are tax deductible
How much can I afford?
Remember - buying a house should not change your life style! Keep in mind that some of your monthly payment (Principle, Interest, Real Estate Taxes, Homewoner's Insurance) will come back to you in the form of tax deductions - see above! Use my
CALCULATOR
to determine where your comfort level lies with your monthly mortgage payment.
Where do I start?
Determine the areas where you would like to live. Take into consideration such things as:
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Distance to work
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Access to major highways
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School District
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Shopping
What am I looking for in a home?
Try to determine your musts and preferences. "I have to have at least 3 bedrooms" - that's a MUST. "I would prefer to have a basement, but would settle for a house without it if I really like it" - that's a preference. Communicate your MUSTs & PREFERENCES to your Realtor!
Get Preapproved!
It's important to be ready to buy! Did you know that nowadays no offer is accepted unless it's backed up by a mortgage pre-qualification or a pre-approval? Get pre-approved! When submitting an offer, make sure your realtor sumbits a pre-approval that reflects your purchase price in case of 100% financing or the amount of financing if you are putting some money down - no more, no less!!!! If you submit a pre-approval that is not sufficient to back up your offer - your offer won't be looked at seriously and you may loose time if other offers come in. If you submit a pre-approval for more then an offering purchase price - it's a direct invitation for a seller to counter offer, in other words to ask for more money from you, the buyer. Submit only pre-approvals reflecting what you offer - no more, no less!
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