“Owning vs Renting is a NO Brainer”
Good afternoon Mr. Petrowsky,
My name is Anthony XXXXXXX, Kathy XXXXXXX was gracious to provide me with your contact information. I had a conversation with her regarding how we, my fiancé and I, "look" if we were to apply for a mortgage. Kathy said you would be able to help us answer those types of questions. We may have an opportunity to purchase the Townhouse we are currently renting, it was kind of sudden how it came about and we would like to know "where" we are. The asking price is 300K and we are currently paying $2600 per month rent.
I can be reached at 860-XXX-XXXX to discuss this further.
Thanks, Anthony
After running the numbers for the client, with just over $10,000 down their monthly mortgage payment would be less than what is being paid for rent. SO WHY RENT?
They shared a few crazy reasons, but when I told them what the mortgage payment would be and what the down payment would be it didn’t take them long to decide to become homeowners. They discussed with the seller that they didn’t have enough money for closing costs, so they finalized a purchase agreement to include the seller paying the closing costs.
Get the interest deduction as a tax benefit, getting principal reduction each month and building equity is always better than collecting rent slips.
Image courtesy of StuartMiles/Freedigitia;photos.net
