Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
9am till 9pm 7 days
In terms of "buy vs rent", it depends on your goals and whether or not you plan on staying in the area for a while.
Pros & Cons of Renting:
Renting gives you the freedom to move anytime you want to and you won't be locked down in a mortgage. There's also no homeowner's insurance, no home maintenance, or any other fees / payments associated with owning a large structure. Rent is not tax deductible.
However, renting means that you're "losing" equity (money) every month. With a mortgage, your monthly payment goes towards your home. The interest on your mortgage is also TAX DEDUCTIBLE! Comparing 30 years of renting vs 30 years of paying off a mortgage means that you would have a home you can sell after 30 years if you had decided to buy a house to begin with.
If you're looking for a place to lease short-term or a house to buy long-term, feel free to contact me and I'll help you out more.
Golden Land Investments & Financial, Inc.
$270,000 mortgage at 3.75% payment including principal, interest, taxes and insurance will equate to about $1,700 per month.
Assuming you not only have great credit but a monthly income that can support this mortgage and any other debts you may have, then there are homes "close by"
I suggest you meet with a Loan Officer and get a pre-approval letter to find out exactly what you can buy. Then call an Agent in your area. I strongly recommend Shannon Chang 626-319-8545. She is extremely knowledgeable, helpful and reliable.