Many experts say the time has never been better to buy real estate. You certainly have a lot going for you, with low home prices, motivated sellers, low interest rates, and lenders eager to start doing business again after a bad couple of years.
Peace of Mind Owning Your Home
No more worrying about crazy landlords or rent increases, you’ll be able to live in your home for as long as you like, and have a fixed payment each month for 30 years! No more unwelcomed surprises!
Low Interest Rates
Interest rates for the 30-year fixed home mortgage are at historic lows. With many new loans being written in the mid-3% range, money has never been cheaper to borrow. Buying during this historic opportunity can save you hundreds of dollars per month and tens of thousands of dollars over the life of your loan.
You can deduct the interest you pay on your mortgage from your taxable income. New homeowners with recent home loans tend to get the greatest tax benefit. The newer the mortgage, the higher the interest payment each month that means greater tax breaks. Real estate taxes are deductible, providing great benefits to the homeowner. Homeowners often find that owning a home costs substantially less than renting a home.
Lenders don’t make money unless they create new loans. The downturn in the housing market after the peak of 2005 and 2006 has meant that lenders are anxious to rebuild their portfolios of quality mortgages. While it now takes more than a pulse to get a home loan, there are still plenty of lenders out there willing and able to lend. I’ll coach you to get into the right home loan program.
Not sure where to start? Try our 60 second
Idaho First Time Home Buyer Analysis.