A lack of savings for a down payment, credit problems, or uncertainty about the home-buying process -- such as where to find the best mortgage lender -- can all make it seem impossible to go from renter to homeowner.
Fortunately, though, there's a secret weapon that can help you surmount all these hurdles. That secret is taking a homebuyer education course, a move that has huge financial and practical benefits. Rather than paying rent to support your landlord, your monthly mortgage payments go toward you and your future. You can deduct the cost of your mortgage loan interest from your federal income taxes, as well as your homeowner property taxes. In this society of rapidly rising rent, buying a home is a wise long-term investment. As an added bonus, you might be able to sell your home for more than you paid for it!
At Modern Market Realtors, we usually recommend FHA, VA or conventional loans for first-time homebuyers. Not sure which program is right for you? Contact us today!
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