Buying Affordable Homes: Making More Financial Sense than Renting
The government, real estate experts, and mortgage consultants are one in urging consumers to start realizing their American dreams by owning a home today. They encourage all individuals and families to make a long-term saving and investment solution by taking advantage of the extremely high level of home affordability index. As suggested by recent reports, purchasing houses have never been this affordable in the past 15 years.
In fact, buying a home in the US these days makes more financial sense than simply renting. The present affordability of homes emerges as a more practical option when compared to leasing. Rent ratio, which is computed by dividing the sales price of a house to the annual cost of renting it, is gradually losing its value especially now that economists are expecting rent costs to increase 3 to 5 percent until 2013.
Nevertheless, affordability is not the sole element in low-priced houses in the market today. Low mortgage rates also play a major role in easily acquiring homes. Apart from subsidization programs of the government, the Home Affordable Refinance Program (HARP) has also been recently improved to grant consumers with lower interest rates and more favorable monthly dues on their housing loans.
Nonetheless, it appears that the US mortgage market remains in a lull despite continuously decreasing prices and interest rates. Finance experts claimed that this is because consumers have developed the misconception that these bargain-like prices are not really favorable. Moreover, they also believe that the favorable deals they can have today are more likely to turn into nightmare investments in the future as their acquired properties begin to depreciate in value. Thankfully, there are Georgia mortgage loan consultation firms that can shed some light into the clouded minds of consumers.
Professional Georgia mortgage loan experts can guide aspiring home buyers in every step of the purchasing process, and can help them realize the advantages they can get from buying homes at the present rates. Despite the instability of the global economy and the tight loaning standards of most banks, one can surely get financing assistance through the help of such experts. Potential buyers can also be informed as to the other costs carried in home ownership procedures that usually include taxes, insurance, as well as homeowner association dues and maintenance.
Through that, they can be spared from unexpected expenses that can greatly disrupt their budgets. Georgia mortgage loan consultants and other expert finance groups sure provide the basic mortgage guidance that families and individuals need. They present quantitative data that can remind consumers about the pride of ownership which is the greatest qualitative benefit of buying homes instead of just renting spaces.
In fact, buying a home in the US these days makes more financial sense than simply renting. The present affordability of homes emerges as a more practical option when compared to leasing. Rent ratio, which is computed by dividing the sales price of a house to the annual cost of renting it, is gradually losing its value especially now that economists are expecting rent costs to increase 3 to 5 percent until 2013.
Nevertheless, affordability is not the sole element in low-priced houses in the market today. Low mortgage rates also play a major role in easily acquiring homes. Apart from subsidization programs of the government, the Home Affordable Refinance Program (HARP) has also been recently improved to grant consumers with lower interest rates and more favorable monthly dues on their housing loans.
Nonetheless, it appears that the US mortgage market remains in a lull despite continuously decreasing prices and interest rates. Finance experts claimed that this is because consumers have developed the misconception that these bargain-like prices are not really favorable. Moreover, they also believe that the favorable deals they can have today are more likely to turn into nightmare investments in the future as their acquired properties begin to depreciate in value. Thankfully, there are Georgia mortgage loan consultation firms that can shed some light into the clouded minds of consumers.
Professional Georgia mortgage loan experts can guide aspiring home buyers in every step of the purchasing process, and can help them realize the advantages they can get from buying homes at the present rates. Despite the instability of the global economy and the tight loaning standards of most banks, one can surely get financing assistance through the help of such experts. Potential buyers can also be informed as to the other costs carried in home ownership procedures that usually include taxes, insurance, as well as homeowner association dues and maintenance.
Through that, they can be spared from unexpected expenses that can greatly disrupt their budgets. Georgia mortgage loan consultants and other expert finance groups sure provide the basic mortgage guidance that families and individuals need. They present quantitative data that can remind consumers about the pride of ownership which is the greatest qualitative benefit of buying homes instead of just renting spaces.
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