"Can I Afford to Buy?" or
Maybe a Better Question is: "Can I Afford to Rent?"
The following chart shows the amount you are spending on rent per year. Also, it's money that you never get back!
It's money your landlord uses to pay their mortgage. Maybe it would be better to use that money to benefit you. Use those funds to pay your own mortgage, and start building equity for yourself with each payment.
Monthly 1 Yr 2 Yrs 3 Yrs 4Yrs
Rent
$600 $7,200 $14,400 $21,600 $28,800
$700 $8,400 $16,800 $25,200 $33,600
$800 $9,600 $19,200 $28,800 $38,400
$900 $10,800 $21,600 $32,400 $43,200
$1000 $12,000 $24,000 $36,000 $48,000
$1100 $13,200 $26,400 $39,600 $52,800
$1200 $14,400 $28,800 $43,200 $57,600
If you are paying more rent than the above chart shows you are even losing more money as the months and years add up.
Please let me know if you would like to talk to a loan representative.....just to find out if you can qualify for a loan (no pressure).
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