Unlocking Homeownership: Why Rent When You Can Buy?

Join our weekly Lunch and Learn series to discover why buying a home is a better option than renting. Short workshops is designed to help prospective homebuyers understand the benefits of homeownership, navigate the buying process, and make informed decisions.

Details:

• When: Every Monday, 12:30 PM - 1:00 PM
• Where: Zoom (Link will be provided upon registration)
• Theme: Why Rent When You Can Buy

Agenda:

1. The Benefits of Buying vs. Renting:

• Financial Advantages:
• Building equity: As you pay off your mortgage, you gain ownership in your home, increasing your net worth.
• Tax benefits: Homeowners can often deduct mortgage interest and property taxes.
• Stability and Control:
• Fixed monthly payments: Unlike rent, your mortgage payments remain stable, especially with a fixed-rate mortgage.
• Personal freedom: You can renovate and decorate your home as you wish.
• Long-term Investment:
• Appreciation: Real estate generally increases in value over time.
• Forced savings: Monthly mortgage payments contribute to your equity.

2. Understanding the Home Buying Process:

• Pre-qualification and Mortgage Options:

• Soft Pull Pre-qualification:

• Steps:

• Provide basic financial information.

• Lender performs a soft credit check (does not affect your credit score).

• Receive an estimate of the loan amount you qualify for.

• Benefits:

• No impact on credit score.

• Helps set a realistic budget.

• Demonstrates seriousness to sellers.

• Types of mortgages: Fixed-rate, adjustable-rate, FHA, VA, and more.

• Finding the Right Property:

• Work with a real estate agent.

• Consider your needs and wants.

• Visit and inspect potential homes.

• Making an Offer and Closing the Deal:

• Negotiating the purchase price.

• Understanding the contract.

• Completing inspections and appraisals.

• Finalizing the mortgage and closing costs.

3. Q&A Session:

• Open floor for participants to ask questions

4. Next Steps:

• Resources for further learning
• How to start your home-buying journey.