Rents are rising every month nationally. It’s been a big-city problem for years, but rents everywhere are rising at the same levels. Why? There’s no reason why they shouldn’t, with occupancy of almost 95%. Demand is simply not keeping up with demand. Rent is rising – interest rates aren’t.
It used to be that you rented until you could afford to buy a house. Now, people are renting far longer, because they are deep in debt, or aren’t able to get a down payment saved, or they need to improve their credit score. While these can all keep you from being able to buy a home, they also give you a target to aim at while you are trying to buy a house. However, rising rent makes these even more difficult.
An FHA loan could help. FHA has a much lower barrier to entry for home ownership. For one, you only have to put down 3.5% towards your home instead of the 20% that many people think they will need. You can also get a great rate with an FHA loan.
Buying a home is the biggest investment that you will ever make, but it’s also the best one. Getting into the homeowners club changes your life. You are now building towards something. Rent is just throwing money down a hole, it’s not an investment in yourself.
The Home Loan Expert team is ready to help you today to take the first step toward this goa. Ryan can work up options for you to show you exactly what you can afford, so that you can shop confidently. You can take our quote and make a firm offer. Don’t worry about missing out because you are waiting on the bank to get your quote. Stop paying rent and start to own your future.
Call us in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515 or Nashville at (615) 810-8555. You can always apply online at www.thehomeloanexpert.com, and we’re also open on Saturdays to better serve you. We work hard to make it easy on you. Nobody gets lower rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?