Making Your Dream a Reality
Home Buyer Information?
If you’re like most first-time home buyers, you’ve probably listened to friends, families and coworkers’ advice, many of whom are encouraging you to buy a home. However, you may still wonder if buying a home is the right thing to do. The more you know about why you should buy a home, the ease the entire process will be for you. Here are some good reasons why you should buy a home.
Pride of home ownership
Pride of ownership is the number one reason why people decide to own their home. The desires of decorating and remodeling their home, give them a sense of joy that would to suit their desires and needs. Home ownership also gives you and your family a sense of stability and security for their future.
Beyond pride of ownership, it’s important to realize another benefit. Even though real estate is unpredictable, sometimes down, sometimes up, over the years, there has been a consistent improvement in terms of appreciation. For this reason, many people now consider home investment to be ideal, since it guards against inflation.
Buying a home is a great way to build financial freedom. Each month, part of your monthly payment is applied to the principal balance of your loan, which reduces your loan balance. By reducing your loan balance, you are building equity on your home.
Property taxes paid for a first home and a vacation home are fully deductible for income tax purposes. Another main benefit of owning a home is probably tax deductions. You can reduce your income tax by deducting the interest charged on your home from your gross income. Property taxes are also deducted from your taxable earnings. Buying a home also means you get to control the amount of money you pay on taxes.
Buying a home is a great way to reduce your interest on a mortgage. As long as your mortgage balance is smaller than the price of your home, mortgage interest is fully deductible on your income tax return.
Are You financially Ready?
Apart from the many benefits of home ownership, you also need to know some of the drawbacks you may encounter.
- 1. Qualifying for a bank loan, when credit was tight, getting a mortgage at any rate was reserved for only the most credit-worthy borrowers. Things have loosened, but lenders still want to know that you’re a responsible, gainfully employed and credit-worthy candidate. The loan can be anywhere from 5 to 30 years, depending on the home loan you can afford and are offered.
- 2. Down payment, it’s the lump sum you’ll pay upfront that funds equity in the property and proves to lenders that you’ve got skin in this homeowner game. Today, the majority of lenders prefer a 20 percent down, often this gets you the best rates. but some loans allow a down payments.
- 3. Monthly payments, this is what you’ll pay each month for the life of the loan. In most cases, a mortgage includes the loan principal and interest (both amortized over the life of the loan) plus homeowners insurance and property taxes (pro-rated).
Are you ready to become a home owner?
At JV Real Home Solution, our goal is to make your dream a reality!
We understand that buying a home in today’s market place is more difficult than ever before. Banks and other financial institutions require home buyers to have a very good credit score, usually 720 or better, a huge payment of 20% down, a long employment history and low debt-to-income ratio, making the process of home ownership more difficult for home buyers to qualify for a loan.
For these reasons, we are offering owner financing to those potential buyers who may not qualify for a bank loan. We help our clients find the perfect home that meet their needs, by providing owner financing with a low-down payment and no bank loan or credit check. We make the process of home ownership more affordable for everyone.
Either, Buying, Selling or Renting a home, we are here to help in your journey!
Call Us Today to See How We Can Help You
Call/Text 718-581-3399 or Email Us at: firstname.lastname@example.org
- Buying: own your home with no Bank Loan or Credit Check.
- Selling: we pay full price for your home, guaranteed!
- Renting: rent to own your next home
Our goal is to help you accomplish your goals and live the American dream of home ownership regardless of your Credit!