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Today we’re going to be discussing the difference in the costs of renting a home vs. the costs of buying a home. Whether you are currently in the market to buy or still renting, it’s an important topic to discuss. First, let’s go over some statistics from our market.
A $100,000 loan in our market with a 4% interest rate would put your payments at about $600 a month. For a $150,000 home, that number is around $900. These are estimates, but they include the cost of your principal payment, interest, and mortgage insurance. A lot of times in our area, rent can be anywhere from $600 to $1,100, so today we’ll be covering some myths about why people think they can’t afford a home in our market.
A lot of people we’ve been talking to are simply unaware that there are affordable homes in our market under that $200,000 range. Currently in Mohave County, there are 131 homes for sale under $100,000 and 344 homes for sale under $150,000. To view the properties at $100,000 and under visit here. For $150,000 and under, visit here.
Some think that they can’t afford a home because of their credit. Well, we can tell you that we have several lenders that are offering amazing programs, and the government has changed lending guidelines up a little bit to allow you to purchase a home even if you’ve had issues in the past.
You really should stop throwing your money away on rent to pay your landlord’s mortgage, and get one of your own by becoming a homeowner. If you have any questions for us about the logistics of buying a home and why it’s such a smart investment in your future, give us a call or send us an email. We look forward to hearing from you!
A $100,000 loan in our market with a 4% interest rate would put your payments at about $600 a month. For a $150,000 home, that number is around $900. These are estimates, but they include the cost of your principal payment, interest, and mortgage insurance. A lot of times in our area, rent can be anywhere from $600 to $1,100, so today we’ll be covering some myths about why people think they can’t afford a home in our market.
A lot of people we’ve been talking to are simply unaware that there are affordable homes in our market under that $200,000 range. Currently in Mohave County, there are 131 homes for sale under $100,000 and 344 homes for sale under $150,000. To view the properties at $100,000 and under visit here. For $150,000 and under, visit here.
Some think that they can’t afford a home because of their credit. Well, we can tell you that we have several lenders that are offering amazing programs, and the government has changed lending guidelines up a little bit to allow you to purchase a home even if you’ve had issues in the past.
You really should stop throwing your money away on rent to pay your landlord’s mortgage, and get one of your own by becoming a homeowner. If you have any questions for us about the logistics of buying a home and why it’s such a smart investment in your future, give us a call or send us an email. We look forward to hearing from you!
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