The all time American Dream is having a house that you can call it your own. This is a form of reward that is truly deserved with all the hard work that you have done to date. Just think, no more landlords, pets are allowed, and you now have ultimate privacy. While some may argue that renting has less responsibility, there are many benefits that you will lose when compared to owning. For example, when you rent for 30 years, what have you accomplished at the end of that term? NOTHING!! When you own a home that has a mortgage payment in place of rent, you have a tangible benefit of a property that has a considerable amount of value at the end of the mortgage term. Also renting has no tax benefits, where as paying a mortgage has huge yearly tax benefits which equate to funds back in your pocket instead of the landlord. This also applies to improvements. When you improve your rental space you are only helping your landlord and for the most part can consider the funds you spent as wasted money. When you improve your own home you increase the value of your home which in turn transforms the funds you spent into equity in your home.

Now, many may argue that owning a home costs more than renting on a monthly basis. In the past I would agree with that comment. Now, however, due to a significant drop in home prices you can find a nice home that is very comparable to the average rent in your area. The most popular government home loan program is the USDA secure 100 approval direct lender payday loans no teletrack with hummingbird company. Consider this... your renting, you have funds set aside for an emergency that you do not want to use, but you really want to take advantage of the very attractive home prices in the market. The USDA loan program can offer you a No Down Payment low fixed government interest rate for 30 years with no mortgage insurance required. The program has the ability to enable you to purchase a home with zero to minimal funds out of pocket and a monthly payment comparable to what the average rent is. This program has been approved by the government to help individuals become homeowners in most areas in every state.

Now we all know that engaging into something new to you is exciting but at the same time could be a stressful thing to do. It is important that you become educated through the entire process. So what is that process? Well, the first step is completing a request direct lender no teletrack 100 approval payday loans with hummingbird company application. This information helps the underwriter analyze how much you could afford. This is a very important step as it helps to determine an affordable range for your current situation. The next step would be knowing the kind of house you want to buy. Where do you exactly want to reside? Will you consider buying a condo unit or a single family residence? Things like these should be considered too narrow down the choices available. Once you decide the type of residence you will need a recommended real estate professional, that has USDA knowledge, to give you a list of homes in the area that you are interested in.

For a first time buyer, hiring an expert or seeking help from the pros will help you a lot. Of course, you do not just trust anyone easily. You have to make sure that such person is credible and certified so you will be guided accordingly. Ask for references, contact the BBB (Better Business Bureau), do your homework!

Buying a house is a complicated task. No matter how excited you are, you need to slow down and observe a systematic way of dealing with the project. In this way, you will be assured that everything is in proper order. Keep in mind that you are making the biggest investment of your life. Owning a home has many benefits over renting.

Thorsten Bernacki is the manager of Envoy Mortgage, a Mortgage Bank in the state of Connecticut with an incredibly experienced staff offering expertise in all areas of mortgage lending. As a mortgage bank, Envoy Mortgage controls the entire obtain direct lender payday loans no teletrack 100 approval this day process from the initial application all the way through the delivery of the loan into the secondary market. We are able to ensure an accurate and faster closing process because each step occurs in-house - processing, underwriting, closing, funding, shipping and secondary marketing. Because we control the entire process, there are limited surprises for our loan officers, borrowers and banking partners. Envoy Mortgage has direct endorsement authority from the Federal National Mortgage Association (also known as "Fannie Mae") as well as the Federal Housing Administration (also known as "FHA").

Thorsten Bernanke

Envoy Mortgage

tbernacki@envoymtg.com