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Stephanie Pryor
RMLO NMLS 732444

o: 512-288-2997
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5901 Old Fredericksburg Rd, C-103
Austin, TX 78749
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Still Writing Checks to the Landlord? Home loan payments are now often less than rent payments!

02/03/2015

If you don’t intend to stay in your home long, need extra mobility or are unsure about your employment prospects, renting probably makes good sense for you. But if you’re planning to stick around, owning may prove to be more rewarding. Here are five good reasons:

• Rates are near historic lows, and prices are still well below the past peaks. This unusual combination places the real cost of purchasing a home near a 50-year low.

• Buying builds equity. On most mortgage loans, you pay down the principal balance with each payment. This typically starts at about $100 per month for every $100,000 of loan balance and increases each month through the entire life of the loan. To make a fair comparison, be sure to subtract principal paid from a home loan payment vs. the cost of renting the same property.

• Home values rise over time. Increases are not guaranteed; however, if we use the last 50 years as a guide, values have typically risen at a pace above inflation.

• Homeownership often brings tax benefits. Deductions for home mortgage interest and real estate taxes save many homeowners thousands every year. Others still find taking the standard deduction more beneficial. Always consult your tax pro for advice.

• It’s more than just the money. Families become rooted in a neighborhood, school district and community. Homeowners have the freedom to choose paint colors and make modifications. Pets are welcomed. Intangibles like these often formulate the most valuable returns.

Housing is a precious commodity that we all need every day. It’s your choice to rent or to own.

Buying a home for yourself usually beats buying one for the landlord!

Give one of Premier Nationwide Lending’s mortgage experts a call if you would like to find out more!

Residential Mortgage Loan Originator

Stephanie Pryor’s true passion lies in helping people get into their dream homes. Stephanie takes care of all the detail work so her clients can focus on what color to paint the living room! Involved in finance and real estate since 1997, Stephanie is also a group fitness instructor who promotes both physical and financial health. An avid athlete and cookie baker in equal measure,

Stephanie reminds us that every day is about making one choice: “Happiness is an attitude. We either make ourselves miserable, or happy and strong. The amount of work is the same.”—Francesca Reigler.


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