Community Corner
Special Options from State and Federal programs help Renters become Owners
With the scarceness of rentals, the cost to rent has become well ridiculous. A lot of people aren't aware that the State and Federal Government 's have come up with Special Programs that target renters to help them get out of the cycle. Besides huge income tax reductions they help with the down payment so moving into a home you buy is often less expensive than what it costs to move into a rental. In addition with Income tax savings offsetting a portion of the monthly payment it is usually less than the cost to rent. As the property increases in value and the loan is paid off you build equity instead of your landlord. Most importantly you lock in the cost of your housing for 30 years at a constant level which is a wise choice considering how much higher rents are now than just 5 years ago or 10 years ago and that is expected to continue to rise sharply. Its also often easier to qualify to buy than it is to rent. Some Landlords are expecting 700 credit scores and paychecks that are 3-4 times what the rent is or they won't accept you. Pets are another huge issue in trying to get a rental. The State and Federal Programs accept 620 and higher credit scores and need less income to qualify than many landlords. I have run and worked with these programs for 26 years and can tell you the opportunities are brighter now than ever before. There is no cost or obligation to see if you qualify so if you or any of your family and friends are tired of being subject to moving or having your rent raised its worth checking it out. My email is ezownhome@gmail.com and my phone is (925) 200-1556. I hope to speak with you soon. Eric