Getting In Is Easy-Buy NOW!-Expert Antelope Valley Real Estate Advice
OK. Last week we talked about renting and the expenses going out to meet your monthly rent amount. This week we will move on to the benefits of home-ownership. a MUCH more fun topic!
Getting In Is Easy
- Convenient Down Payment Options Still Exist
- $8,000 Tax Credit for First-Time Homebuyers
- Home Prices Very Affordable
- Low Interest Rates
- Payments Similar to
- Average Rent Over 5 Years
Now For The Good Part!
After 5 years:
Mortgage Balance Declines
Increased Net Worth
Plus Tax Benefits!
Your Uncle Wants to Help
- If Cash Is Tight –
- Uncle Sam Can Help
- Don’t Wait For Refund Bucks: Increase Your Take Home Pay
- Quit Lending Money to Uncle Sam Interest Free
- Check Out IRS Calculator To Do It Right
Tax Advantage
Assuming a $300,000 loan:
P&I $1,798.65
Taxes 312.50
Insurance 100.00
Total $2,211.15
Tax deduction for five years:
Interest $87,082 + Taxes $18,750= $105,832
Using a 25% tax bracket $26,458
Monthly $ 441
Mortgage Payment $2211 – 441 = $1,770
Average Rent (five years) $1,658
Payment difference $ 112
Plus… Possible $8,000 Tax Credit for FTHB (First Time Home Buyer)!
Got Rent?
Your Landlord Loves You
Wealth Created by Home Ownership
Buying a home is a Big Step…But a Step in the Right Direction!
If YOU or someone you know is interested in starting the home buying process, feel free to contact RE/MAX All-Pro; it’s not just real estate, it’s a relationship!
