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Browse through topics about buying a home, refinancing your current mortgage, and information you should know about your credit.
 
Renting a Home or Apartment
Advantages of Renting

  • Little or no responsibility for maintenance of the property.

  • Easier to move from one rental to another.

  • No property taxes.

  • Some utilities may be covered by your rent payment.

Considerations for Renting

  • No equity will be built.

  • No control over rent payment increase.

  • Possibility of eviction for reasons other than non-payment.

  • Bound by rules of your landlord or apartment complex.

  • Limited in changing decor and landscaping.

  • No tax benefits.

  • Rent payments never result in a tangible asset.

  • Rent payments never end.

  • Possibility of loss of security deposit (typically one month's rent).
Buying a Home of Your Own
Advantages Of Buying

  • Your property can gain appreciation and equity.

  • You are not dependent on a landlord to make needed repairs.

  • Interest paid on the loan is tax deductible.

  • No risk of eviction for reasons other than non payment.

  • Owning a home will give you a sense of security, stability and community.

  • You are free to make changes to the decor and landscaping as you choose.

  • With a fixed rate mortgage your monthly payments will never increase.

  • Payments will end at the end of the mortgage term.

  • Payments are resulting in a tangible asset.

Considerations For Buying

  • You will be responsible for maintenance.

  • You will be responsible for paying property taxes.

  • Less mobility than renting.

  • You can damage your credit by not paying your mortgage.

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