Did Your Landlord Thank You For Making His Mortgage Payment?
Owing a home may be Less than what you are paying for rent !
Let Me Help You One Step At A Time !!
Almost every homeowner will tell you that the purchase of their new home was the best financial decision they ever made. Yet every day many prospective new homeowners fail to take the steps necessary to learn what they need to know in order to take that first step towards home ownership.
Here are just a few Things to Consider when you start wondering whether you should stop paying down the landlord's mortgage and take out one of your own instead.
- If you are 35 now and just buying your first home, you could be mortgage free by the time you are 60 and sitting comfortably on a considerable asset.
- It's highly likely that your investment will appreciate conserderably in 25 years. DON't buy now with the intention of making a quick profit.
- Buying a home is a very effective way of saving regularly for 25 years. Even if you never buy into another retirement savings or investment plan, you are effectively putting money away for the future.
- Discover the pride of home ownership. You can fix up the place to suit your particular needs. You will get at least as much out of the work as you put into it.
Bottom line!... The place is yours to do what you want with it! Not just a place that you hang your hat temporairly and make surer the rent is paid on the 1st of each month. Paying YOUR mortgage on the 1st of every month and not the rent is a monumental difference... it's like paying yourself a little every time you invest in your own property, even with the interest you pay.
For FREE REPORTS On buying a home Talk To Jackie Today. No Hassle. No Obligation.
Here are a few examples of what owning your own home may cost for mortgage payments based on 6% interest including CMHC fees. Other payment options are available on all examples. Some banks offer different options for your down payment. Be sure to check around with the different banks. Call your bank and ask if you qualify to get pre-approved.
$20,000. Price of Home - 5% down = approx. $1000 down = $139.71 Monthly Mortgage
$30,000. Price of Home - 5% down = approx. $1500 down = $209.54 Monthly Mortgage
$40,000. Price of Home - 5% down = approx. $2000 down = $251.03 Monthly Mortgage
$50,000. Price of Home - 5% down = approx. $2500 down = $313.78 Monthly Mortgage
$60,000. Price of Home - 5% down = approx. $3000 down = $376.53 Monthly Mortgage
$70,000. Price of Home - 5% down = approx. $3500 down = $439.30 Monthly Mortgage
$80,000. Price of Home - 5% down = approx. $4000 down = $502.06 Monthly Mortgage
$90,000. Price of Home - 5% down = approx. $4500 down = $564.81 Monthly Mortgage
These figures are approx., but by checking out with your financial institute, you will find that they are very close to the actual figure. Be sure to read the report on the Buyers Page regarding the new CMHC regulations they recently put in place. It may help you to find your new home for less than you are paying for rent.
Be sure to give me a call or email if you have any questions. If you are wanting to take a look at some homes in what you think may be your price range, just give me a call. No obligation, no hassle, no pressure. With the low interest rates in place now, it may just be the time for you to consider owning your own home instead of paying rent.
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