Hey there, it’s Bruce Woodburn with CrossCountry Mortgage. Today is October the 22^nd and these are the three big things you need to know. But before we get into the three important and big things you need to know, I want to remind you to please tune into my radio show on Saturdays from 12 to one on WDBO 107.3FM and 580AM AND I took on a brand new radio show on News WFLA 540! So Please tune in to that on Saturdays from 2pm-3pm. This show is going to be dedicated to real estate agents and builders, that have amazing content that they can bring to the table to help my clients and your clients save and make more money in real estate. So, I hope you enjoy my new show on Saturdays from 2pm to 3pm on News WFLA 540. So I now have two radio stations that you can tune into that should bring a lot of value to our central Florida market. All right, now, your three big things you need to know.

1. First thing, now this is about math, so if you want to just keep up with me here. This is going to just blow you away at least it blows me away. First of all, do you know that a two-bedroom, two bath apartment right now runs you about $1,450 to $2,000 depending on the location in Central Florida. Did you also know that you could buy a home for between $225,200 and $250,000, and your payments are going to be about the same? Plus, you can get a three bedroom, two and a half baths, and brand new appliances. And another great thing is, you can bring your dog and cat around! Because some of these apartments and rentals will give you a hard time about pets. So, it doesn’t make any sense, when you can have the same payment, to keep renting.
2. Now the second thing is that people struggle with out of pocket expenses when buying a home. So I want you to put this in perspective: an FHA loan at 3.5% down, you’re looking at a property for $250,000, but you negotiate that the seller reduces the price by $7,500, so you pay $242,500. Now, if you buy that home, and the seller’s not covering anything for you (ie closing costs), you paid about $15,500 out of pocket. Now, let’s put that in contrast. So now let’s say that you pay full price for the $250,000 property, but the seller pays $7,500 toward your closing costs. You’re paying $250,000, but your payment is only going to be about $40 more a month and your $7,500 less out of pocket. So now your out of pocket is $8,800 bucks. Now, it’s easier for a first-time homebuyer to come up with $8,800 than it is to come up with $15,500. I know it was for me. That’s right, that was my first loan that helped me get into my first property, so, I know it can help you! On top of that, you may even qualify for a VA or USDA loan for even less money down. We can always talk about your options.
3. All right, the third thing you need to know, and this will blow your mind. If you bought a property for $250,000, your investment, if you got an FHA loan, was 3.5% percent which is about $8,750. If we look at what is typically the national average, we are going to say that your property will go up 3% per year in value. Now, we’re currently experiencing about 5.5% to 7% depending on where in the market you’re looking, but we will use 3% as an average. So if the value goes up 3%, you made 86% return on your investment in year one! Show me where you can get 86% return on your investment in anything. I mean, I’ve got a really good financial planner, he takes really good care of me, puts me in good investments, but I’m not making 86%. Are you making 86%? Well, you can! And the less money you put down on a home, the greater your return on your investment. I bet you didn’t know that. On top of that, think about this, five years later, that house appreciated, and you’ve now made 455% return on your investment. So you can keep renting and be on the sidelines of life, or you could own a home. If you were renting and you paid $1350 a month and the landlord only increased your rent by 3% per year, you’ll end up giving him $51,000. That’s ridiculous. You could have had that money in your own equity bank, don’t rent anymore you guys.

Let me show you how to become a homeowner, call the Loan Arranger CrossCountry Mortgage.