DID YOU KNOW…
That your rent payment might be as much as a mortgage payment?
A $100,000 home can have a payment of $615 that is some pretty cheap rent to pay!
WHY RENT WHEN YOU CAN BUY?
A home is an investment. When you rent, you write your monthly check and that money is gone forever. But when you own your home, you can deduct the cost of your mortgage loan interest from your federal income taxes, and usually from your state taxes. This will save you a lot each year, because the interest you pay will make up most of your monthly payment for most of the years of your mortgage. You can also deduct the property taxes you pay as a homeowner. In addition, the value of your home may go up over the years. Finally, you’ll enjoy having something that’s all yours - a home where your own personal style will tell the world who you are.
Here is a mortgage calculator that might be helpful for you to see what a mortgage payment might look like for you:
http://www.bankrate.com/partners/sem/mortgage-calculator-rates-tl.aspx?ec_id=m1027724&ef_id=Um5YSgAABUFtV0MO:20140116135000:s&MSA=3480
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