One of the most important factors in calculating a mortgage, which is often overlooked by many, is the credit score of the individual applicant.
Start the Journey to Homeownership Today!
So you’re thinking about purchasing your first home — congratulations! That’s a big decision, but don’t stress. Jet Direct Mortgage is here to help walk you through every step of the home buying journey as quickly and efficiently as possible. So you can spend less time worrying about your loan and more time focusing on your dream home.
Purchasing a home has many benefits that can help save you money and drastically increase your quality of living.
From building home equity, to increasing the value of your home through renovations, to planting your roots and living the American dream, to the multitude of tax benefits; purchasing a home that let’s you live the way you want can be right around the corner.
Build Equity in Your Home
When it comes to purchasing a home, home equity is a word that pops up quite a bit. But what exactly is home equity and why is it beneficial? In short, equity is the amount of your home that you actually own. The amount of equity you have in your home varies over time as you continue to make mortgage payments and the value of the home changes with the market. When you finish paying off your mortgage, you will have 100% equity in your home.
This home equity can be utilized in a variety of different ways including paying for home renovations, college education, medical expenses, or ever consolidating other debts.
Purchasing a Home Can be a Long-Term Investment
Historically, home values increase over time. That means your home will likely be worth more money by the time your mortgage is payed off than when you initially purchased it. Maintaining your home in good condition and even making some renovations or expansions can also help increase the value of your home. This means the overall value of your home equity increases.
Plant Your Roots and Experience the Pride of Homeownership
One of the biggest benefits of choosing to purchase a home rather than rent one is the sense of permanent stability. When the terms of your housing situation are up to your landlord’s discretion, it’s easy to feel like your home isn’t really yours. Having the freedom to decorate, renovate and enjoy your home as you see fit, along side a fixed-rate mortgage, can be a huge benefit to you and your family’s well-being.
Tax Benefits of Purchasing a Home
One of the biggest financial incentives to purchasing a home is being able to deduct your mortgage interest when filing your tax return. This can prove to be a huge source of savings over the course of your mortgage loan.
In addition to many other benefits, if you are required to purchase mortgage insurance, those premiums can be deducted from your taxable income.
Let’s Find Out How Much House You Can Afford
Knowing what houses are in your budget is one of the most important steps in determining which home is right for you and your family. Our handy mortgage calculators can easily help you estimate what your monthly mortgage payments might be.
Although complex and risky, short sales can offer home buyers a house at a more than desirable price.
And although title transfers may seem simple, they can actually become quite complicated if there are unresolved liens or claims on the property. This makes title searches important for both buyers and sellers.
Offering a large down payment on a house can wind up saving you lots of money in the long run. But not everyone has the means to offer a large down payment
One of the most important steps of the home buying process is getting a home inspection. In most cases, getting a home inspection is a condition written into the purchase agreement.
A home purchase agreement is a contract that states the conditions upon which a house is purchased. These conditions are agreed upon by both the buyer and the seller.
You’ve finally found the house. Now’s it’s time to make the sellers an offer. But how exactly do you do that? And what’s happens after you’ve made your offer? How does the process work?
It’s typical for renters to be hesitant to take on a mortgage. But what many fail to realize, it that buying property allows you to build wealth as you make your monthly payments.
It's no secret that selling a home can be very stressful . But it's important to remember the importance of making your home presentable for buyers.