Have you ever thought about owning a home? And, then, perhaps did you convince yourself that it wasn’t possible? Well, now is the time to prove to yourself that you CAN.

See for yourself! Here’s an example:

  • Average Seattle one bedroom apartment rent: $1384
  • Sample Thornton Place one bedroom condominium price: $219,950
  • Summer Incentive resulting monthly mortgage payment: $825** (first year monthly payment)

(** This example utilizes an FHA mortgage with 3.5% down, principle and interest payment with upfront mortgage insurance payment. Taxes, HOA dues, insurance and monthly mortgage insurance are not included. The example reflects a developer-paid permanent rate buy-down and a 2/1 buy-down on a 30-year FHA loan. The example is the first year mortgage payment of the buy-down which has interest rates of 2.375% for year 1, 3.375% for year 2 and 4.375% for years 3-30. This is for example purposes only and is based on current rates, which change daily. Programs, rates, terms and conditions are subject to change without notice.)

Find out more about how this works by clicking here

A few reasons why owning a home is a terrific decision for your wallet and for your future:

  • A mortgage CAN equal rent. A home mortgage can be the same or very similar to monthly rent in the Seattle area. The difference is that you will now OWN real estate!
  • Home ownership is an investment in your future. With a mortgage you are building equity (and wealth) for your future. For the majority of homeowners, the decision to purchase a home has been their single greatest source of financial security and independence.
  • Interest rates are at historic lows. What this means to you is that your buying power has increased. Take a look: For a person or a family who makes $7,000 per month, this is what they might afford on a conventional type home loan:

    Interest rate:Loan amount you can afford:
    9.0%$217,500
    8.0%$238,500
    7.0%$263,000
    6.0%$292,000
    5.0%$326,000
    4.0%$366,600

  • Owning a home has tax benefits. Homeownership can reduce the federal income taxes you pay. You can deduct the interest on your home mortgage and property taxes on your home every year on your tax returns. These tax savings partially reduce, or offset somewhat, the actual cost of owning your home.
  • Keep more money in your pocket. With the tax benefits above, you may be able to modify your current income tax withholding percentage to increase your net take-home pay. Here's a tool you can use to determine withholding: http://www.irs.gov/individuals/article/0,,id=96196,00.html?portlet=7 As always, check with your accountant to confirm your personal benefits.
  • Your monthly payments are not subject to market increases. (If you choose a fixed-rate mortgage.) As rents increase year after year, once you purchase your home and select your mortgage program, you will know what your payments are going to be for as long as you own your home.
  • You'll have a home to personalize as you wish! Paint the walls, install a chandelier, change the carpet – it’s all yours to decorate and enjoy however you want. And, if and when you decide to move you can sell your home and likely have a down payment to purchase your next home.
  • Check out a handy renting vs. owning calculator by clicking here. Note that the 100 year average annual home appreciation rate in the Seattle area is +3.5%. Average annual rent increases are 3%.

Give us a call today to learn more about how we can help you own your own home.