Given that buying a home is such a big step, it’s important for you to educate and prepare yourself as much as possible in advance. This means clearly determining why you’re buying and what kind of home you’re looking for. And because buying and financing a home are so closely related, it also means examining your current financial situation and projecting how much you can afford.
” Increasing rates decrease your buying power.”
“Homeowners pay down their principle balance and increase equity. Rent payments add to your landlords equity.”
“Build wealth. Making mortgage payments is a form of forced savings.”
“Homeowners are able to deduct mortgage interest and property taxes from their income.”