Gabino Barrera Jr.
23705 Crenshaw BLVD. Suit 101
Torrance, CA 90505
License by the State of California Department of Corporations under the California Residential Mortgage Act
I agree with the previous answers and I would buy instead of renting.
And It's no late at 58 ,actually you have plenty of your life time ahead of you.
Please give me a call at (909)731-7124 or email me Ludy@tarbell.com
If you purchase at today's prices and low interest rates, there is a high likely hood you will gain substantial equity by the time you are 70. Conceivably , you could have the home paid off by then and use the entire sum ( 300K? 400k?) to afford senior care , etc.
Also , if there is an entity you care to leave something too , this would be a great opportunity to do so with little effort.
Please call me at 951.742.3751 when youre ready or need more info..
If you haven't purchased a home please contact me at 949 494-7304. I have an ideal home for you on a tree- lined culdesac, fireplace, beautiful mature trees, covered deck, fenced yard, and 2-car garage. The home will be placed on the market in about two weeks.
Per your very specific info about down payment and purchase range, presumably you've already spoken with a lender who has preapproved you for a loan?
And based on what you can get in your immediate area, your lender and/or realtor can give you scenarios of what it will cost you to rent versus what it will cost you to buy over a period of time.
Are you committed to staying in place for approximately 5 years or so? If you're thinking of moving again in less than 5, it may not be in your best interest to buy a property that you will resell in less than 5. Reasons being you may not build enough of an equity to defray your costs to sell.
-tax deduction of mortgage interest and property taxes
-loan principle pay down
-the ability to renovate and fix the property how you like
-if you get a 30 year fixed mortgage you inflation protect your monthly house payment (as rents could rise a lot over the next 20 yrs your housing payment won't)
-you could work to get the house completely paid off and have no mortgage payment in your elderly years (where if you continue to rent you will always have rent)
If rent is a lot less than your housing payment would be, I would take a look at possibly continuing to rent. With renting you have no maintenance and repairs and flexibility to move quickly without responsibility for a house.
Richard R. Rivas, Realtor
Please visit my website for their testimonial:
Please call with Questions (909) 908-9474
It's a dream come true to own your own home. I see you've received several great responses to your inquiry. I've lived in Ontario for 25 years and would love to assist you with options to look, visit and make your final decision regarding a purchase.
I look forward to answering your questions and helping you find your new home.
All questions are welcome.
Joanne Cothern, Realtor, e-PROÂ®
â€œSuperior Quality, Excellence in Serviceâ€
Century 21 Adams & Barnes
1395 S. Grand Ave
Glendora, California 91740
Office Phone: 626 963-7621
Cell: (626) 485-3180
DRE License # 01844305