STRENGTHENING YOUR FINANCIAL FUTURE

One of the surest ways to strengthen your family's financial future is to buy a home with a fixed-rate mortgage payment with which you are comfortable, determine to pay off your home, and make future financial decisions based on achieving that goal.

Have you EVER talked to a friend or family member who has paid off their home--and regretted it?  We have not.

We have been helping people purchase homes for more than 15 years, and, as part of that process, have studied thousands of individual financial situations.  Having always specialized in helping first-time homebuyers, only a small percentage of our clients had ever paid off a home or were well on their way to doing so when we met them.  But about those who had, it must be said:  there is an unmistakable level of financial self-confidence that you see in those people; and it should be your goal to achieve the same.

Common sense tells us that if we are determined to pay off our home, the first thing we should do is put as much money down when we close on the home as possible.  FHA now requires a 3.5% downpayment ($150000 sales price, $5250 downpayment), but if you are able to put more down without draining your financial reserves, you should. 

If you are thinking about closing on a home before JUNE 30, 2010, you will also be able to take advantage of the $8000 First-time Homebuyers Tax Credit.   If you are an existing home owner trying to move up or down size you would be eligible for a $6500 tax credit.