Why rent when you can own?
For only a bit more than you are paying each month in rent. Just take a pencil and paper and figure this out. Whatever your monthly rent is, times it by 12 months, then times that by 10 years. See how much money you could be directing toward a growing investment, which you can use to turn even more dreams into a reality in the future. It is crazy to think that in 10 years of renting a property for $3000, that you have spent $360,000 cash with no write offs or equity in a house to show for. In my opinion, once you are at the point where you can afford $3000 a month for rent, you really should consider purchasing.
It may be possible to begin to enjoy the personal and practical benefits of being a homeowner. The only way to learn about the possibilities of being a home owner is to speak to a local lender that can inform you of this. Get more information on the affordable loan programs that enable renters to become homeowners. Your lender can help you choose a home financing program that can fit your individual needs. You also will need to make sure that your credit scores are where they should be. Your credit scores are a very important component in your ability to obtain a loan.
When purchasing a property, you will need a pre-qualification letter verifying your ability to purchase a property. It is based on several factors including your credit score, job and employment history, your current income, bank references, and the ability to fund your down payment. The pre approval letter verifies that a responsible lender has taken a good look into each area and drawn a conclusion about your home buying ability.
If you are in this category of people who may possibly qualify for purchasing, it is certainly worth your while in doing your research. I will be happy to speak to you further about this and also refer you to a reliable lender if you would like some references. It is a wonderful thing to be a home owner! It’s the American dream!!
How to own property on Oahu