With todays prices and current interest rates did you know?????? you may be able to buy a new home for not much more than what you are paying in rent. Check the chart below to see how much you could be directing toward a growing investment*.
As you know, there are so many benefits to owning a home instead of renting. There are the emotional ones, of course, but there are also financial benefits. Many times, the after-tax cost of owning a home is less than renting one since the interest may be tax-deductible. In most cases, you can deduct property taxes, too. You should consult a tax advisor for details
Here is more good news!!! - most homes increase or appreciate in value over time. You will be building equity in your home as you are paying down your mortgage. Home equity will increase your personal wealth and is a financial asset you can borrow against in the future, if you need to. It offers tax benefits, as well. So you should ask your tax advisor more about it.
If you are dreaming of buying a new home? Make a financial loan officer your first step. They are ready with more financial options and innovative mortgage programs that make a real difference to you, there possibly could be even 100% financing available to you! depending on your income and credit score.
Call Denis Gagnon 850-685-4014 or email dgagnon@topproducer.com to get contact numbers to local fianical companies that know this area's and Florida's fiancial rules and regulations.
* The amount of the payment applied to principal and interest will vary according to each person, loan terms, including but not limited to rate, loan to value, and escrowed items.
As you know, there are so many benefits to owning a home instead of renting. There are the emotional ones, of course, but there are also financial benefits. Many times, the after-tax cost of owning a home is less than renting one since the interest may be tax-deductible. In most cases, you can deduct property taxes, too. You should consult a tax advisor for details
Here is more good news!!! - most homes increase or appreciate in value over time. You will be building equity in your home as you are paying down your mortgage. Home equity will increase your personal wealth and is a financial asset you can borrow against in the future, if you need to. It offers tax benefits, as well. So you should ask your tax advisor more about it.
If you are dreaming of buying a new home? Make a financial loan officer your first step. They are ready with more financial options and innovative mortgage programs that make a real difference to you, there possibly could be even 100% financing available to you! depending on your income and credit score.
Call Denis Gagnon 850-685-4014 or email dgagnon@topproducer.com to get contact numbers to local fianical companies that know this area's and Florida's fiancial rules and regulations.
* The amount of the payment applied to principal and interest will vary according to each person, loan terms, including but not limited to rate, loan to value, and escrowed items.
| Monthly rent | 3 years | 10 years | 15 years | 30 years |
| $1000 | $36,000 | $120,000 | $180,000 | $360,000 |
| $1250 | $45,000 | $150,000 | $225,000 | $450,000 |
| $1500 | $54,000 | $180,000 | $270,000 | $540,000 |
| $1750 | $63,000 | $210,000 | $315,000 | $630,000 |
| $2000 | $72,000 | $240,000 | $360,000 | $720,000 |
| $2250 | $81,000 | $270,000 | $405,000 | $810,000 |
| $2500 | $90,000 | $300,000 | $450,000 | $900,000 |
| $2750 | $99,000 | $330,000 | $495,000 | $990,000 |
| $3000 | $108,000 | $360,000 | $540,000 | $1,080,000 |
