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logo
  • Home
  • Loan Programs
  • Conventional Loans
  • 5% Down Jumbo Loans
  • FHA Loans
  • USDA Loans
  • VA Loans
  • Self Employed loans (Alternate Documentation)
  • Investor Cash Flow DSCR Program
  • Investor Cash flow worksheet (DSCR)
  • Short Term Rental Loans (Air BNB / VRBO)
  • Foreign National Loans
  • Commercial Loans
  • Apply Now
  • Resources
  • Mortgage Basics
  • Online Forms
  • Mortgage Calculators
  • Loan Process
  • Credit Card Builder
  • Blog
  • Careers
  • Why Join Coast2Coast Mortgage?
  • Loan Officer New Hire Referral Program
  • Apply for a Loan Originator Position
  • Career Opportunities
  • Loan Officer Dashboard
  • Pricing Engine
  • WeMLO Processing
  • Marketing Toolbox
  • Listing Booster
  • Go Paperless Credit Authorizations
  • Zoom Meetings
  • G-Suite Learning Center
  • Employee Portal
  • Closed Loan Submission forms
  • Reviews
  • Locations
  • 1-888-456-9796

Buying a Home Rather Than Renting Still Makes Sense and Here's Why

Deciding whether to rent or buy a home this year? Rental affordability has been challenging for years, and it isn't changing any time soon. That's why many are considering the advantages of purchasing property despite the higher rates.

According to data recently released by Realtor.com, while the rental market is experiencing slower-paced growth, as of March 2023, rent is still over 25% higher than in March 2019! With rents much higher now than in pre-pandemic years, owning your own home can provide a more affordable and stable option.

A Mortgage Offers Payment Stability

Homeowners with a fixed-rate mortgage can lock in a monthly payment for the duration of their loan, usually 30 years, unlike renters, who are subjected to fluctuating rental rates.

Pay Less for More Space

If you need a larger living space, like two or more bedrooms, then you should definitely look into buying a home. When comparing the cost of rent of a two-bedroom to a mortgage payment for a two-bedroom, the homeowner comes out on top. According to Realtor.com, the median monthly mortgage payment for a two-bedroom property is $74 less than renting.

Build Equity for Your Future

Furthermore, owning a home allows you to start building equity, which grows your net worth as home values typically rise over time. As you pay off your mortgage, the equity builds, which can be utilized to fuel a move to an even larger space down the line. Building your own equity is why many bought their homes in the past year.

What Would Your Mortgage Payments Actually Be? Find out!

There's no better time than the present to pursue your dream of buying your first home. If you're looking to accommodate your household in a bigger space, have more breathing room to spread your belongings, or dedicate space to your hobbies, consider homeownership and work with a trusted mortgage professional to explore your home financing options and home-buying assistance programs.

With rents rising, owning a home could be a more sensible option! Contact us today for an obligation-free consultation, and use the calculator on our website to get an idea of your future mortgage payment.


* Specific loan program availability and requirements may vary. Please get in touch with the mortgage advisor for more information.

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About Us

We've been helping customers afford the home of their dreams for many years and we love what we do.

Company NMLS: 376205
CA 60DBO-139024
www.nmlsconsumeraccess.org

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Contact Us

Coast2Coast Mortgage, LLC
9050 Cypress Green Dr. Suite 403

Jacksonville, Florida 32256
Phone: 1-888-456-9796
info@coast2coastmortgage.com

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These materials are not from HUD, FHA, the USDA, or the VA. These materials were not approved by any government agency. They are independent of any government agency. We are not in any way affiliated with any organization listed or referenced within this website, including HUD/FHA/USDA/VA. The inclusion of various education, information, web links, or materials are not an endorsement of the Sender or any of its employees or business partners.
For information directly from HUD/FHA, visit http://www.hudclips.com
For information directly from the VA, visit http://www.benefits.va.gov/HOMELOANS/
For information directly from the USDA, visit http://www.usda.gov/wps/portal/usda/usdahome?navid=GRANTS_LOANS

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