35.32 TIMES MORE MONEY
A recent University survey shows home owners have 35.32 times more wealth than renters.
Why Rent?
| 1 |
Money-only have a deposit and first month's rent. |
| 2 |
Poor credit-we do credit counseling, help you get credit scores up. |
| 3 |
Most renters do not know they can buy a home. |
| 4 |
Many renters do not know what loan amount they can qualify for. |
| 5 |
Some renters do not care if the land lord gets all the tax benefits and property appreciation. |
| 6 |
Some renters do not know how much they pay every month to reduce the land lord's loan on the property. |
Why Own?
| 1 |
Money-only have to have a renters deposit and first month's rent and you can own your own home. |
| 2 |
Poor credit-we do credit counseling, help you get credit scores up. |
| 3 |
You want the dollar amount ($250-$1200) you pay to reduce the land lord's loan every month to go into your pocket. |
| 4 |
You want the monthly tax benefits ($250-$1000) to go into your pocket. |
| 5 |
You want the monthly property appreciation ($650-$5000) to go into your pocket. |
| 6 |
Some renters do not know how much they pay every month to reduce the land lord's loan on the property. |
Below is a demonstration of how a $1,700 per month rent, can turn into a $350,000 home.
| Monthly Payment |
$2856.63 |
| Less Tax Savings |
-$643.87 |
| Less Principal Reductiom |
-$341.78 |
| Less Appreciation |
-$1,685.19 |
| Net Monthly Cost of Owning |
$185.85 |
| |
|
| Monthly Rent for Similar Home |
$1,700.00 |
| Less Monthly Net Cost of Owning |
-$185.85 |
| Monthly Cost of Renting |
$1,514.15 |
| Annual Cost of Renting |
$18,169.80 |
Figures are based on a mortgage amount of $350,000.00, 30 year loan at 6.25% Interest Rate
with an Owners Tax Bracket of 28.00% with Estimated appreciation of 20% annually
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