Your Journey Home Starts with McLean Mortgage
McLean Mortgage Corporation is here to help whether you are looking for your first home, interested in refinancing your current home or renovating to improve your dream home.
The Home Ownership Advantage
It is tempting to rent when you move to a different location. However, buying is typically a better financial option. McLean Mortgage Corporation is dedicated to provide you with knowledge to help you find the right options for your personal needs. 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.
Get Started
Learn more about each stage of the mortgage process, and contact a trusted Mortgage Advisor today to start building equity and security.
Time for an Update?
Whether you’re looking to make improvements at the time of purchase or need to refresh your current home, we’ve got mortgage options to fit your needs.
Why not finance your renovations, repairs, or cosmetic improvements to help turn a great home into your dream home?
