Posts from November 7th, 2023
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7
Should I Buy or Rent?
You may have asked yourself this question before or you might be asking yourself right now. The answer to this question all depends on your current situation in life, finances, where you live and your future plans.
Let's start with your current situation. Are you single? Are you married and expecting children? A home may be the right choice if you are expecting children and need more living space or yard space. Maybe you are single but are looking to build some equity in your home and not just write a check to your landlord every month.
Another question to ask yourself is do you have the cash on hand needed for a down payment to purchase? Depending on your financial situation, you can expect to put down a minimum of three to five percent of the purchase price. There are 100% financing plans like a VA loan, if you are a veteran, and USDA, if you are purchasing a home in a qualified rural area. Contacting a local mortgage lender is a great first step. The lender can qu...