First Time Home Buyers Need to Act Now

More and more people are finding that it is now cheaper to own their own homes than it is to rent.  With a 5% mortgage rate, and 20% down payment, the monthly cost on a $350,000 home would be less than the $1,800 per month they would pay on a rental.

The cost of owning a home relative to renting has fallen sharply.   Lower prices and interest rates, coupled with various other incentives like the $8,000 tax credit have induced many Renters to finally embark on a quest to home ownership. 

 

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