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Mares Mortgage can assist you when you are interested in buying a home, and we want to make sure you understand home ownership.
Bottom-Line Benefits of Buying a Home:
- A home builds equity over time and in turn builds your wealth.
- As an Owner you are not subject to the terms of a lease or a landlord.
- The Tax Benefit: Interest and property taxes are deductible.
- Home equity loans can be borrowed from your home if you need funds.
- Pride of Ownership.
Major Factors to Discuss when Purchasing:
- Money Available to Invest: The amount of money you have saved or received as an inheritance. Higher down-payment leads to a higher probability of being financed.
- Credit: Your historical ability to repay debt.
- Income: Money received in course of doing business. Be able to show monthly income 3-times greater than the monthly payment for the home you desire.
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