Financing

 

Financing


When deciding to purchase a home, it is important to know how you plan to finance your investment. Determining the financing program that best fits your needs is an essential first-step in the home buying process and should be done before you begin your home search.

By filling in the information on the Contact Us page, we will be happy to provide you with any advice, guidance or assistance on this subject. Also, each of the listings you view on our website gives you access to a mortgage calculator tool that will give you an idea of monthly mortgage expenses.

Rent Versus Own


The decision to rent or own a home is dependent upon a number of personal factors. However, there is one key difference about which everyone should be aware.

When you own a home, there are significant tax advantages that actually result in direct cost savings over paying monthly rent. The rent you pay to a landlord each month, is a direct out-of-pocket expense for which you receive no tax benefit or write-off.

If, however, you own a home and have financed the cost of that purchase with a mortgage, the interest you pay the lender on the money you have borrowed, is tax deductible. Additionally, the real estate taxes you pay on your home are tax deductible. This means that you will enjoy direct tax savings you would otherwise not receive.

Explained simply, you will owe less in taxes, which means you will bring home more money in your paycheck! It’s like getting a raise. We advise you to talk to your accountant about this important homeownership advantage.