Owning a home is in the top 10 list of American dreams. With 100% financing it may not be as out of reach as you think. Consulting with a mortgage professional can help you determine eligibility and give you insight to the many factors that go into to buying a home.
Top 3 Reasons to Buy a Home in California
Build Equity-Renting does not allow you to accrue equity by paying your monthly housing expenses. Equity builds as the value of a property rises and the payment is paid down. Owning a home allows you to use this equity in the form of cash-out on a refinance, a Home Equity Line of Credit which is similar to a credit card which may use for expenses like a kitchen remodel or pool installation and equity can be realized on the sale of the property as cash to you.
Tax Deduction-Not everyone is eligible, however it’s worth consulting your CPA or accountant for tax deduction eligibility.
You are the Landlord-Although maintenance and upkeep are your responsibility as a homeowner, your investment in the property in terms of curb appeal, remodeling, and other updates can increase the value of the property. If you decide to rent the property, you become the landlord and hopefully can benefit from the cash flow of rental income.
100% financing is commonly used by First Time Homebuyers. There are many programs to assist with homeownership that you may qualify for! Connect with us today! We would love to help determine if now is the time for homeownership!
First Time Homebuyers may be eligible for programs like CAL-HFA and Chenoa. Some of our programs have lower interest rates and allow you to finance the down payment and closing costs. Find out if you qualify today!