Rent vs Buy: Homeownership May Be Closer Than You Think | Town & Country Credit Union

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Rent vs Buy: Homeownership May Be Closer Than You Think

Is your pup begging for a yard of his own? Do you have kids wishing for room to run? Homeownership could be the answer and it may be closer than you think. 

For some, a monthly mortgage payment may be the same or less than what you’re paying in rent. Buying a home does come with some upfront costs. Before you nix the idea of owning, be sure to check out the following programs designed to save you money on your mortgage:

  • Down Payment Assistance - There are several programs, state (North Dakota, Minnesota) and Federal, designed to reduce the amount required for a down payment. No need to stress about saving an excessive amount.
  • Closing Cost Assistance – The fees associated with your home purchase add up quickly. This program keeps the cost as low as possible, keeping more money in your wallet. Did someone say new furniture?

On top of the cost savings programs, working with a local and experienced mortgage officer is priceless. They’ll guide you through the entire home buying journey and be there to answer any questions you may have. And if you’re not ready to purchase a home just yet, they’ll provide you with step-by-step guidance to help you get there.

The costs for renting or buying are varied. Let us help you decide which make sense for you. Mortgage payment calculators can be a great place to start, but sitting down with a mortgage officer will answer all of your questions. Schedule a free consultation today!

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