We are Spreading the Joy
Last week we spread the joy once again by helping another renter become a home owner. Our new home owner have been renting for over 8 years and decided early this year to start building wealth by becoming a homeowner. In January when we started the journey, the credit was less than perfect, not enough cash at hand, but with a solid plan and our commitment to home ownership the goal was achieved in December 8th 2016.
We are all paying mortgage either via rent which is building equity wealth for your landlord or paying your mortgage which is building equity and wealth for your family. Which one will you rather be doing? Our latest home owner was paying $1800 monthly for rent, but now paying $1828 mortgage, however the taxes and interest paid as part of the mortgage will be tax deductible - another benefit of home ownership, so once we deduct the taxes and interest, the payment is actually $1234.00. The details of the sale is below.
Contract Price: $297,000
Down Payment: $10,395.00
Seller Closing Cost Credit: $8910
Interest Rate: 3.10%
Monthly Mortgage Payment: $1828.00
Our latest home owner used FHA home loan mortgage to purchase this townhouse, but there are other loans available depending on each person’s credit situation. We also have new program coming up for first time buyer providing grants and down payment assistance. We can show you what youcan qualify for – Contact us for more information. Make 2017 the year you start building wealth for you and your family!!!-