We’re constantly told not to believe everything we read or hear – and that’s truly excellent advice. In a world where journalists have become unabashedly opinionated, and much of our news has actually become “Fake News,” it’s not always easy to validate what is accurate. Cross-referencing legitimate sources of information has become a rare talent and is usually reserved for scholars that have the time and resources to separate fact from fiction.
Things are not much different when it comes to financing and purchasing a home. There are a lot of myths out there. Please! For your own sake – do not believe everything you read or hear. We at Approved Funding are able to debunk many of the myths, rumors, and false ideas surrounding buying a home and we’d like to share some honest and sincere advice. We did our homework and welcome you to test our advice. We’re here to help you learn. And we are here to help you make smart choices.
To use one common scenario as an example… People believe that “you can’t go wrong” by purchasing a house. They feel it’s a given that you will recoup your costs over the long term and that buying a home is an entirely risk-free investment – especially with the tax deductions and advantages that people have become accustomed to in the past.
The truth is, buying a house is not about the house. It’s about you! You are the one who turns a house into a home. What are your needs? If you are buying the house merely for the return-on-investment for example, are you aware that buying some stable corporate blue-chip stocks might yield double the value of appreciation versus the average home? Yet, by putting down a mere 20% on the house, you wind up purchasing 80% more real estate! That’s great leverage. But more importantly, you can’t live inside your stock portfolio. And what price can you put on a place called “home?”
Purchase the house because you want a “home,” not because you want to become rich. A home is a responsible place to invest long-term, and from which to anticipate a “fair return” in the future. Everything above that should be gravy. Purchasing a home is a conservative investment and one in which the buyer may assume a safe return and a nice nest egg after paying off their thirty-year mortgage. If nothing else, it certainly beats paying rent!
We could go on and on giving you great advice. But our best advice is to simply contact us. We’re here to help you avoid the many pitfalls and nightmare scenarios that sometimes arise when purchasing a home. We’ve certainly ‘been there, done that’ regarding every aspect of the home and mortgage industry. We’ve helped thousands of clients invest billions of dollars in purchasing their dream home. And we’re here to help you!
By Dave Friedlander
Dave Friedlander (NMLS#1689379) is a Mortgage Consultant at Approved Funding, a privately held local mortgage banker, and direct lender. Approved Funding is a mortgage company offering competitive interest rates as well as specialty niche programs on all types of Residential and Commercial properties. Utilizing the most advanced resources and technology available, Approved Funding offers the power of a large banker with the mindset of a local broker to close loans quickly and at a low cost to our borrowers resulting in thousands of loans and billions of dollars of satisfied mortgage transactions. Dave can be reached via email at [email protected] and (201) 833-0123
