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HOW TO STOP PAYING RENT AND OWN YOUR OWN HOME

STOP BUILDING YOUR LANDLORD’S RETIREMENT AND START BUILDING YOUR OWN

It’s the American dream to own our own home and stop paying rent. But if you’re like the majority of renters, the thought of becoming homeowners can feel daunting or leave you feeling stuck in the renter’s rut with no way out. 

DON’T STAY IN THE RENTER’S RUT

When becoming a homeowner, it doesn’t matter how long you’ve been a renter or how impossible your financial situation may appear. The reality is, there are some little-known facts to help you overcome these humps and bring you closer to your goal of homeownership – and we’re here to help! With this information, you’ll learn how you can:

  • Build your own generational wealth for yourself and your family
  • Stop throwing away tens of thousands of dollars on rent each year
  • Save for a down payment and
  • Get paid to live through passive income

Why continue to throw away copious amounts of your hard-earned money on rent, when you owe it to yourself to explore all the benefits homeownership can offer? By taking a few minutes to discuss your specific wants and needs, you can come one step closer to achieving the American dream of owning your own home.

There is no cost to you in having this conversation and in the worst-case scenario, you walk away with a plan and are educated on the truth behind the process. Of course, you shouldn’t feel obligated to buy a home at the time you discuss this. But by taking the time and steps needed to educate yourself on the process now, imagine how your home-hunting experience will be when you’re prepared and relaxed?

6 FACTS YOU NEED TO KNOW WHEN PREPARING TO BUY YOUR FIRST HOME

The problem with most renters is not that they cannot make a monthly payment, it’s the ability to provide a significant down payment for a home. 

What most people don’t know is that required down payments are lower than ever and in many cases, can be $0. 

1. YOUR BUYING POWER IS A LOT MORE THAN YOU THINK

Many government programs for first-time homebuyers help people break into the market. Most people can qualify for this, even if they have a spouse that has already bought a home.  Making sure that your real estate agent is informed and knowledgeable in this area is extremely important

2. A GOOD LENDER CAN HELP WITH DOWN PAYMENT AND CLOSING COSTS

If you do not have enough cash as a Buyer to provide an adequate down payment, your lender may be able to supply you with the funds to cover such costs.

3. NEGOTIATE FOR THE SELLER TO HELP YOU PURCHASE AND FINANCE YOUR HOME

Some sellers, if negotiated properly, will assist a Buyer in purchasing their home.  An experienced agent will know how to do this properly.

4. CREATE A CASH DOWN PAYMENT WITHOUT ACTUALLY GOING INTO DEBT

In strategic money borrowing for investments for specific purposes,  you may be able to generate a substantial down payment when you didn’t think you could. Your agent and lender can show you how to unlock things like tax refunds, IRAs, and other types of cash that you may not have known were available.

5. YOU ARE ABLE TO PURCHASE A HOME EVEN IF YOU HAVE A BAD CREDIT SCORE.

A good agent will be able to put you in front of a competent mortgage professional that will use tools like credit predictors.  Further, and more importantly, many people THINK their credit is not worthy of a mortgage but they really don’t know.  “You don’t know until you know, consult a mortgage professional”.

6. ABSOLUTELY GET PRE-APPROVED WITH A LENDER BEFORE YOU GO HOME SHOPPING

Pre-Approval is one of the easiest parts of the home buying process and can give you the upper hand when looking for a new home. When consulting with a lender, they can give you a written pre-approval letter for free, even over the phone! Supplying these documents to Sellers is pretty much a requirement for your offer to even be considered by a Seller.

Only deal with lenders who specialize in mortgages. Their services and knowledge can nearly make-or-break any efforts you take to get out of the typical renter’s rut.

If you’re looking to buy a home and start building your own generational wealth versus spending another penny building your landlord’s retirement, fill out the form below and let us help you begin your journey towards financial freedom!

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