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IMAGINE


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Mortgage Rates
and Indicators
Current Change
30 Yr Treasury Bond 4.69% 0.08%
Fed Reserve Prime 8.25% 0.00%
30 Yr Fixed 6.12% 0.01%
15 Yr Fixed 5.86% 0.02%
1 Year ARM 5.45% 0.02%
Based On National Averages

Benefits of owning

Building Equity
With every payment you make, you increase the amount of your equity. The principal payment will increase your equity, not your landlord's.

Enjoyment
Think of the fun you'll have hosting birthdays, holidays and other family gatherings. Since everyone has their own styles when it comes to decorating, you're the boss! No need to check with your landlord to see if you can change the layout, colors, etc. Go down to the store and purchase the items you've always dreamed about. Remember, the improvements may also increase your home's value!

Investment
I'm sure you've heard sayings like these; "I bought this house 7 years ago and now its worth twice what I paid." Or, "I just installed new kitchen cabinets and now my home is worth a few thousand more than the cost to upgrade them." They are not kidding. Just an FYI, upgrading the kitchen and/or bathroom(s) is one of the best ways to increase your home's value.

Security
If you have a fixed rate mortgage you'll never have to worry about your payment increasing (except for property tax and insurance.) If you rent, your landlord might be able to raise the rent every 6 months - we all know who gets that!

Tax Advantages
Another advantage to home ownership is that the government allows you to write-off the mortgage interest and property taxes you pay every year from your income. This allows you to reduce your taxable income and increases your chances of receiving a tax refund from the government. (Consult an accountant.)