Renting VS. Owning a home in El Dorado County
Renting Vs. Owning a home in El Dorado County, or anywhere in our Three County area, one question you’ve probably asked yourself is
“Can I afford to buy a home?” Perhaps a better question to ask is, “Can I afford to rent?” With prices and interest rates so low, now is the time to take action!
If my rent is…*
$900 – $1,100
$1,100 – $1,300
$1,300 – $1,500
$1,500 – $1,700
$1,700 – $1,900
I could probably afford a home for…
$129,000 – $158,000
$158,000 – $186,000
$186,000 – $215,000
$215,000 – $243,000
$243,000 – $272,000
*Estimates of affordability assume you qualify for an FHA fixed rate
loan, with 3.5% down payment, minimum of a 640 FICO score, and a 4.00%
interest rate. APR range is between 4.261% – 4.325% depending on
price range you qualify for. Information accurate as of 7/30/12.
This is for informational purposes only and, while every effort has been made to insure accuracy, no guarantee is expressed
or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms,
programs and underwriting policies are subject to change without notice. This is not an offer to
extend credit or a commitment to lend. All loans are subject to underwriting approval.
What are you waiting for?…doesn’t cost anything to get Pre-Approved-you owe it to yourself to find out what price range you can buy in-even if just to realize the tax write-off, alone! So Renting VS. Owning a home…what do you think? Call me today for a referral to a Mortgage Lending Professional.