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Here is the most impressing info on
home equity loan and mortgage rates for t
Home Mortgage Loan - Should I Rent Or Own A Home
Owning a home means more responsibilities, but with a host of rewards, including:
Investment value Monthly mortgage payments can be comparable to rent - or even lower - and you're building equity in an investment that can increase in value. This equity can be used to get money saving home equity loans or as a down payment on your next home.
Tax-deductible interest Rent is usually not tax-deductible, but mortgage interest (including points) on your home usually is. The mortgage interest deduction can dramatically reduce your income taxes. Visit the IRS web site at irs.gov for more information about deductibility.
Stable payments When it's time for renter's leases to renew, they may be hit with steep rental rate increases. A fixed-rate mortgage can banish unwelcome dents to your budget. A fixed-adjustable mortgage has stable payments from three to seven years, but starts at a lower interest rate and monthly payment. Your monthly mortgage amount, excluding property taxes and insurance, will be the same for as long as your interest rate is fixed. As your salary increases, payments become more affordable.
Freedom to be creative When you own a home, you can say good-bye to the stale white walls and limited storage space of most rental property. Bring on the paint, decks, customized closets ... homeownership can open up a whole new world and improve your quality of life.
If you're unsure about your job or where you want to live, renting may be the way to go. But if you're tired of the renting lifestyle and ready to accept the responsibilities of homeownership, it makes sense to buy sooner than later. Even if the mortgage payment is more than your current rent, it's worth scrimping for the short term to enjoy the long-term benefits.
For more information about home loans, visit our website and learn more about financing options to purchase your first home.
About the author:
Bill Joy is a loan mortgage officer for Sunshine loan and mortgage services. Visit us at http://www.sunshinemortgageservices.com/ for loan and mortgage and services.
More Useful Resource and Updates on home equity loan and mortgage rates for t
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Interest rates for 30-year, fixed-rate U.S. mortgages dropped slightly in the week ending Nov. 6, the Federal Home Loan Mortgage Corp. said Thursday.The 30-year, fixed-rate mortgage averaged 6.2 percent with an average 0.7 points in the week, Freddie Mac said.A week ago, 30-year, fixed-rate mortgages averaged 6.46 percent with an average 0.7 points. A year ago, the average rate was 6.24 ...
- Home-owners and businesses hold their breath for a one point interest rate cut but will Bank of England deliver? (Daily Mail)
Interest rate-setters are under pressure today to relieve homeowners and borrowers with the biggest cut for 15 years.
- Rams Home Loans drops mortgage rate (The West Australian)
Rams Home Loans (Rams) has dropped the interest rate on its standard variable home loan by 60 basis points. The interest rate on Rams' standard variable home loan has dropped 0.6 percentage points to 7.59 per cent, while the interest rate on Rams' basic home loan is now 6.99 per cent.
- St George cuts home loan rate to 7.74% (The West Australian)
St George Bank Ltd has cut its standard variable mortgage interest rate by 62 basis points. The rate will fall to 7.74 per cent, from November 14. The move follows the decision by the Reserve Bank of Australia (RBA) on Tuesday to lower the official cash rate by 75 basis points to 5.25 per cent.
- Banks cave in on home loan rates: Millions WILL benefit as mortgage giants are forced to pass on historic interest ... (Daily Mail)
Banking giants were shamed into slashing their mortgage rates yesterday following a direct order from the Prime Minister.
- Community helps W. Pa. couple keep home (Centre Daily Times)
At the end of August, Randy and Cindy Balzer were unable to make the payment on their Baldwin Township house after it adjusted to a higher interest rate, and their mortgage holder was ready to seize the home at a sheriff's sale.
- Mortgage rates drop slightly in week (UPI)
WASHINGTON, Nov. 6 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages dropped slightly in the week ending Nov. 6, the Federal Home Loan Mortgage Corp. said Thursday.
- HBOS, RBS Cut Mortgage Rates After Government Meeting (Update2) (Bloomberg)
Nov. 7 (Bloomberg) -- HBOS Plc , the U.K.'s biggest home loan provider, and three other banks together representing almost half of British mortgage lending today cut interest rates after government ministers urged a reduction.
- Rams Home Loans drops variable mortgage rate (The West Australian)
Rams Home Loans (Rams) has dropped the interest rate on its standard variable home loan by 60 basis points. The interest rate on Rams? standard variable home loan has dropped 0.6 percentage points to
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