There are many advantages to owning a home

PRIDE OF OWNERSHIP

We all stand a little taller once we feel the pride of become a homeowner. One of the greatest gifts in my career is helping families get into their first home, or moving up for a growing family. Maybe you are even downsizing for people moving out of your home. No matter the reason, First Rate is here for you.

YOU CAN DO WHAT YOU WANT TO DO

There is no one to tell you what you can and can’t do once you own your own home. Want to paint your bathroom? Go right ahead and paint. Part of home ownership is the ability to make a home Your Home. That means remodeling, upgrades, pait, or decorations that make you happy.

TAX BENEFITS

You get to deduct the mortgage interest and property taxes on your tax returns which adds up to big savings come April 15th. You can also deduct some of your closing costs in the tax year that you purchase your home. The IRS even allows you to forgo paying capital gains taxes on your home (up to $250k if you are single and up to $500k if you are married) provided you have lived in the home for two of the last five years when you sell.

BUILD EQUITY

Your loan balance gets reduced with each mortgage payment. Meanwhile, your home should go up in value over time. Our market has been very strong over the last several decades with homes going up in value at 1 – 3% per year. (Past performance doesn’t guarantee future results.)

INCREASED NET WORTH

In the past 15 years, the net worth of the typical home owner has ranged between 31 and 46 times that of the net worth of the typical renter, according to the Federal Reserve’s Survey of Consumer Finances, which is based on 2013 data.

Pre-Approval

Purchasing your first home is a daunting proposition for most people. There is a lot that needs to happen between now and moving in to your new home. We will save you time, stress, and money with our easy-to-follow home loan process by keeping you focused on just the next step.

The first order of business is getting you pre-approved for financing. Step one is to complete a loan application. We can do this over the phone or online. We will contact you once the loan application is complete to take the next step.

The first order of business is getting you pre-approved for financing. Step one is to complete a loan application. We can do this over the phone or online. We will contact you once the loan application is complete to take the next step.