Why Rent When You Can BUY Your Own Place?!?
Think it would cost too much? We have ways around that... Think you need a big down payment? Nope. Sometimes nothing at all. Don't think you would qualify? Think again...
We are financial wizards with access to tons of different types of mortgage programs. Even if you are a "starving student" without any credit, we can most likely find a creative solution that will allow you to own your own home. If you can qualify to rent an apartment, you most likely can qualify to buy your own home.
A $200,000 home doesn't have to cost $1500.00 each month...
We have loan programs available where you can pay VERY LITTLE each month for years while you remain in school and then pay the difference later after you have graduated and have started your career. On a $200,000 home loan, depending on the loan and your current situation, you could be paying $600/mo. or less for a $200,000 home.
Economics 101
OK... So lets think about this for a second....
If you were to rent an apartment or house here in Tucson, after 4 years you simply would not have anything to show for all the money you have spent renting.
On the other hand; if you had purchased a $200,000 home in the Tucson area 4 years ago, you could already have as much as $20,000 - $100,000 in equity.
Not only would the money you were spending on rent each month be going towards paying off your home, you home most likely would have went up in value substantially.
You could even be generating much needed income each month if you are much like other college students who have roomates. Instead of them paying someone else rent however, they would be paying you.
For Example: If you purchased a 3 bedroom home for $200,000 and your monthly mortgage payment was $600/mo., you had 2 roomates and charged them each $400/mo rent., you would stand to make $200/mo. profit.
Arizona is currently the fastest growing state in the U.S. and home values will undoubtedly continue to rise in Tucson. Additionally, with the recent "housing slump", houses in the Tucson area are being sold for up to 25% below market value.
- Joshua C. Miller | Home Loan Executives