Interest rates are low. There are solid mortgage loan programs available to homebuyers. There are a lot of houses on the market to choose from. Although sellers are not giving their homes away, sellers are willing to negotiate. It is a great time to be a home buyer in America.The fact of the matter is that you have to live somewhere. If you are considering buying your first home, but you think now is not a good time to take the leap to homeownership; I would like you to reconsider. How much are you spending in rent? Look at the mortgage calculator at the bottom of this page. Plug in the numbers to see what you would be paying if you own a home. Say you decide on a home that costs $135,000. If you get a mortgage for the entire amount, and you figure an interest rate of 6%, estimate the property tax for about $1100 a year and $450 for homeowner’s insurance. Now remember that the money you put into a home is an investment. The money you pay to rent just gives you a place to live for another month.
Does it look like maybe you should speak to a Realtor or a mortgage broker to see if is the right time for you to buy your first home? Contact me for more information so you can make the right decision for you.
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