Taking the leap from renting to owning is an important milestone in. If you think your financial affairs are in order, and it also means you’re finally ready to settle down in one place. Owning a home comes with a tremendous of benefits, The drawbacks to consider, include the fact that homeowners have a big financial responsibility. Despite these financial responsibilities, many homeowners say that there’s nothing quite like owning your own home.
Homeowners can capitalize on their home’s appreciation and equity, which accumulates over time. There are also tax deductions on mortgage interest payments and other homeowner expenses. If house is paid off you can enjoy better financial worry free lifestyle.
Closing costs can make up about 3 – 6% of the loan amount. This means that if you take out a mortgage worth $200,000, you can expect closing costs to be about $6,000 – $12,000.
Preapproval is as close as you can get to confirming your creditworthiness without having a purchase contract in place. You will complete a mortgage application and the lender will verify the information you provide. They’ll also perform a credit check.
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Our expertise in Northern Virginia and Maryland makes us the best choice to help you find your new dream home or sell your home with the help of the latest communication and modern technologies. Contact us to get started today!
