First Time Home Buyer

With new financing programs, first-time-buyers can buy a home with nothing down!

Being a first time home buyer means your housing expenses will be stable, while your income will naturally increase over time. In short, you can stabilize your monthly expenses, and put the money you pay in rent back into your own pocket.

In addition, interest paid on your mortgage loan is generally tax deductible, which can mean huge savings on your taxes. This is especially true in the early stages of home ownership, when you’re paying the most interest. And with interest rates at close to all time lows for our 15 and 30 year fixed-rate mortgage loans a home loan is probably your least expensive loan.

Another big bonus to home ownership is that, unlike rent, which disappears each month, your mortgage payment goes toward your equity in the home. Your home equity works like an emergency line of credit you can tap into it if you need to make home improvements, pay off other debts, higher interest bills, or any other unexpected expenses like medical costs. If you decide you want to move after a few years, you haven’t lost anything. When your home sells, you walk away with the equity you’ve invested over your time in the home. That equity can be applied toward your next home as a down payment, to pay down other debt, or anything you want. Contrast that with the situation when you move out of an apartment in many cases, you’re lucky to even get your deposits back!