Renting? You’re Already Paying a Mortgage, Just Not Your Own

STOP paying someone elses mortgage!

Has it ever occurred to you that while you’re renting a home, the mortgage you are paying is someone else’s? The vacation you are funding is your landlords? And all your efforts are going into taking care of a property that will never be yours? That property is building equity, none of which will be in your pocket when you move out.

I’ve work with a lot of very capable and caring lenders, and more often than not, when I have sent folks to them who thought they couldn’t qualify for a mortgage, these awesome loan officers have started the ball rolling and together we’ve put many of these folks into a home of their own. More and more renters are seeing the value in buying a home, just take a look at the statistics that Suzanne De Vita of RIS Media pulled together in the article below.

– Need help with closing costs? Check out our Real Estate discount programs –

Rising rents are making it more and more difficult for renters to save enough to buy a home. But there are still down payment assistance programs out there, zero or low money down mortgage options. Plus, the Your Valley Property Team offers several options to help with your closing costs. Home prices are fairly stable and mortgage rates are still low, under 4.5 percent.

It costs you nothing to give it a shot. Call, text or email me, I’d be happy to run through your choices, and help you find a mortgage lender that suits your needs.

Call or Text: 602-999-0952 • Email: golfarizona@cox.net

Renters Warm to Homeownership, Despite Affordability Concerns

By Suzanne De Vita

Renters are staunchly in favor of homeownership, and, though they have concerns about their ability to afford a home, more now believe it is easier to qualify for a mortgage.

According to the latest SCE Housing Survey, part of the Survey of Consumer Expectations (SCE) by the Federal Reserve Bank of New York, 72.3 percent of renters “prefer” or “strongly prefer” to own a home rather than rent one, and 55.9 percent view homeownership as “a good investment”—findings that dismiss a commonly held notion that they have become averse to homeownership as a result of societal shifts.

The likelihood of buying a home in the foreseeable future, however, both for homeowners and renters, is at a standstill: 63.6 percent, unchanged from 2016.

Sixty-five percent of renters view qualifying for a mortgage as “somewhat difficult” or “very difficult”, according to the survey—a share, though, that has steadily declined in recent years. Twenty percent view qualifying for a mortgage as “somewhat easy” or “very easy,” up from 15 percent in 2015.

One factor could pose a setback. Those surveyed believe mortgage rates have risen by at least 40 basis points this year—on par with their actual activity—and that the average rate one year from now will be 5.6 percent. Higher mortgage rates have the potential to sow apprehension among renters grappling with affordability.

Those surveyed, as well, anticipate home prices will continue to rise both one year and five years from now, expecting a 5.1 percent change in prices in the next year—the highest ever recorded in the survey. The likelihood that prices will fall in the next year, according to those surveyed, is down, to 37.5 percent.

Homeownership, overall, is viewed by 60.4 of those surveyed as a “somewhat good” or “very good” investment; only 12.7 percent view it as a “bad investment.”