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Should You Rent Or Buy A Home?

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Buy a Home

We can help custom tailor your loan program, price range, and even direct you to the right Realtor® in your area.

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Buy a Home

We can help custom tailor your loan program, price range, and even direct you to the right Realtor® in your area.

Get Started

 The question of whether to rent or buy is one that is fluid and ever-changing for a lot of people.

Does it make more sense to continue renting?  Or is it time to buy that home?

 

Location Always Matters

In some higher-priced locations, there simply may not even be the option to buy anything in the area.  While some individuals can’t imagine leaving their high-priced city, renting is going to be the only option for them.  However, if you have a goal of home ownership, it may be time to evaluate moving to a lower-cost city in order to attain that goal.  

Personal Financials

Another thing to keep in mind is being aware of your current financial situation.  Are you well set in your job and expected to make the same income?  Are you forecasting any financial events to happen that would hinder you?

One of the advantages of homeownership is that rather than having a rent payment that could go up, you are locked into fixed payments with your mortgage.  

Gaining Equity

Perhaps the biggest advantage that homeownership has versus renting is that you gain more and more equity in the home as you make monthly payments.  The equity that you accumulate not only helps if you sell the home but also if you need/want to borrow against it via either a HELOC or Cash-Out Refinance.    

About AdvantageFirst Lending

AdvantageFirst Lending is the preferred lender when it comes to home purchase options and saving you money on your monthly mortgage payment.  Customer support is key in any home financing transaction, and our loan officers here at AFL provide the best in the business.  For more information visit our website and follow us on Facebook and Instagram.  Also, be sure to check out our reviews on Zillow.        

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