Why You Can Stop Renting
Young? Long-time renter? Afraid you're not ready to invest in a home?
It's time to STOP RENTING.
You may be more ready than you think. Our trusted local lender of Integrity Mortgage, Brittany Wilson, shares about why you should consider buying instead of renting:
“The biggest thing that holds most young people or first-time buyers back is the down payment or cash required. However, the cost of renting is getting out-of-hand, especially in DFW.
If you’re paying $1200 in rent each month, that is $14,400 of your own, hard-earned money that you will never get back each year!
BUT, there are programs out there where you can get into a Conventional Loan for only 3% down. This is similar to the 3.5% down payment required with an FHA loan, but you are not required to pay the Up-Front Mortgage Insurance Premium, and you have the ability to eventually get rid of your Private Mortgage Insurance. It has all of the perks of a Conventional Loan, but only requires a 3% down payment!
Here is an example scenario...a $300,000 house would only require $9,000 down. By the time you add the other costs associated with getting a home loan, you could be right around the $15,000 mark–which is what you may be throwing down the drain by renting! In addition, some of those costs can be covered by the lender or seller."
Contact Brittany Wilson of Integrity Mortgage today to find out if this loan program could be a great option for you:
Residential Mortgage Loan Originator, Integrity Mortgage Corporation of Texas
NMLS # - 1525362