Renting Or Buying Either Way Youre Paying A Mortgage

Renting Or Buying Either Way Youre Paying A Mortgage

Renting or Buying… Either Way You’re Paying a Mortgage

Renting or Buying… Either Way You’re Paying a Mortgage | Keeping Current Matters

There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage - either yours or your landlord’s.

As Entrepreneur Magazine, a premier source for small business, explained this month in their article, “12 Practical Steps to Getting Rich”:

While renting on a temporary basis isn't terrible, you should most certainly own the roof over your head if you're serious about your finances. It won't make you rich overnight, but by renting, you're paying someone else's mortgage. In effect, you're making someone else rich.”

Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgage vs. paying rent:

“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”

As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person with that equity.

Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 4.23% last week.

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.


Please visit my website tomelia.scottie-smith.com. Allow me to help you start your pathway to home ownership today! 


Article Source: http://www.keepingcurrentmatters.com/2017/03/27/renting-or-buying-either-way-youre-paying-a-mortgage/ 


Tomelia Hinton Headshot
Author:
Phone: 501-454-8068
Dated: March 28th 2017
Views: 164
About Tomelia: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Now Is The Time For Luxury - If your house no longer fits your
Tax Return Depressing Owning A Home Could Help - Many Americans got some depressing
Slaying Myths About Buying A Home - Slaying Home Buying Myths 
A Sellers Market - If you thought about selling your

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Scottie Smith, II & Associates
2717 Commerce St.
Dallas, TX
214-945-1370