Ivory Street Realty -- How You can Build Equity

There are many reasons for owning your own home but we believe the most important is the opportunity for you to build equity through ownership. Your monthly payments go towards ownership of your home rather than into your landlord's pocket. In addition, it can be less expensive than rent and the interest on your mortgage payments are tax-deductible. Don't forget the other advantages of home ownership, which include the opportunity to keep a pet and to decorate any way you like.

Consider this-buying a home with a $130,000 purchase price equals a monthly mortgage payment of approximately $780* a month.

Surprising, isn't it? Even better, the $780 includes principal and interest, which means you'll actually be paying down on your mortgage, earning you equity for each month you own your home. When you consider that rent is reaching $1,000 per month (or higher) in many areas, buying a home makes good financial sense. After three years of paying average rent for a 2 bedroom, 1 bath apartment, you'll spend around $36,000. With a mortgage payment of $780*, your three-year total will be less than $28,500, plus you'll be building valuable equity in your home.

*Payment based on 30 year fixed mortgage at 6.0%. Loan amount of $130,000. Taxes and insurance extra. Closing costs may not be included at this price and are the buyer's responsibility. Not all will qualify at this rate/payment. Acceptable credit, employment, and assets required. Ivory Street Realty is not a licensed mortgage broker in the State of Minnesota, and this is not an advertisement or offer to enter into a loan agreement, nor is this to be construed as mortgage advice but merely for demonstration purposes. Contact a licensed mortgage broker for information on how you may qualify.

I Contact Ivory Street Realty I Contact Paul Belkholm I Webmaster I