McLean Mortgage Corporation
A Home is Where Your Story Begins
"We have been through many loan transactions and closings over the years and this was by far the best and smoothest transaction EVER..."
The Home Ownership Advantage
It is tempting to rent when you move to a different location. However, buying is typically a better financial option. Here are a few of the key economic benefits of purchasing:
Wealth Building
With rent, your landlord builds equity. When you own the property, you are building equity and security for you and your family.
Leverage
Larger assets, like a house, will grow in absolute value more quickly than smaller assets such as mutual funds, even when the rate of appreciation is the same. Also, because part of your mortgage payment goes to pay down what you owe each month, the effects of leverage are enhanced and you build equity.
Inflation Protection
Your entire rent payment is subject to inflation. Only a small portion of your mortgage payment can increase.
Tax Advantages
A mortgage payment is tax-deductible, while rent is not. That means your mortgage payment may be reduced by 20% or more after taxes.
Security
Financial security is achievable if you're careful when it comes to buying and owning a home. By making your mortgage payments on time, you steadily build equity over the long term. The equity you'll build is something you will be able to pull from later if you need it for college, retirement, or renovations. Your home’s value may also appreciate over time, giving you even more equity.
And those are just a few of the reasons the Federal Reserve Board has found that homeowners have a net worth over ten times that of renters.
Have questions about the mortgage approval process? Read all about each stage of the process, and get valuable do’s and don’ts …
What does "home" mean?
For many of our clients, a home means ...
Roots
Putting down roots to remove the insecurities of renting.
Stability
Stability for you and your family— according to studies, the children of homeowners tend to excel in their development when compared to the children of renters.
Community
Being part of a community in which you and your family will develop relationships that often last a lifetime.
Safety
When compared to renting, communities comprised of homeowners tend to be better maintained and safer.
Ready to Get Started?
Learn more about each stage of the mortgage process, and contact a trusted Mortgage Advisor today to start building equity and security.
Get An Edge On The Competition
Ease the stress of home buying with a LoanFirst℠ Pre-Approval, exclusively from McLean Mortgage Corporation.
Rate Protection + Flexibility
RateFlex℠ gives you the protection of a rate lock commitment. If rates go down before you close, you get the lower rate. We are always looking out for our client’s best interests. 👍🏻
