Attention renters! Are you ready for a place of your own? And, I don't just mean somewhere to live because, if you're a renter you already have that! I mean a home that you can paint and fix-up the way you want, where you will have less neighbor worries and, there are so many more benefits to being a homeowner, not the least which is no longer paying someone else's mortgage or nest egg by helping to build their equity, but building your own instead.
Many people I talk to think they can't afford to buy a home. Well just today, July 22, 2015, a search for properties less than $90,000 in El Paso County resulted in 15 results. Now, keep in mind there are down payment requirements for most loans except VA, but a $90,000 loan amount at a 4% interest rate (which not everyone will qualify for) equals a monthly payment for principal and interest of $429.67 (not APR)! Add 1% for taxes and insurance and we're talking about a payment of roughly $505! As you see, with monthly payments this affordable, you just can't afford not to! Not to mention, there are some areas in El Paso County enjoying up to 14% appreciation, meaning if it's worth $100,000 today it's potentially worth $114,000 next year!
Look at the interest rates bank are paying for savings and compare...you'll find that, even at 2% there is no comparison!
And if that's not enough to get you off of the fence, let me nudge a bit and introduce the El Paso County Bond program, which offers down payment assistance equal to 4% of the mortgage amount. And you don't even have to be a first time home buyer to qualify! In case you missed it, this might mean zero down.
Do I have your attention yet? Use the contact form to the right and I'll be happy to help you stop paying rent and start paying yourself.
The Great Recession brought about a major downturn in the housing market. In this new economic reality, many investors backed off for a few years. Now, they’re slowly starting to come back as the market improves and their wide-eyed dreams of ditching the rat race for wealth and independence expand by the day. If you’re one of the many who have taken the plunge into the housing market or are considering doing so, keep in mind that it can be challenging. In particular, there are four key issues you’ll want to master in order to hone your property investing skills...read more
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