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Becoming a homeowner comes with a lot of rewards, as well as added responsibility. Deciding to make such an important purchase is specific to your lifestyle. Here are some benefits and considerations you should discuss with your Loan Officer before you begin the buying process.
Although home value may increase or decrease short term, if you decide to stay in your home long term, it could gradually increase in value. This would provide you with a significant return on your investment.
Equity is the amount of money your house is worth minus what you still owe. Every time you make a mortgage payment, the amount you owe reduces and increases overall equity. This is beneficial, because equity can be accessed and converted to cash. See our Refinancing page to learn more.
As a home owner, your mortgage interest and property tax payments may be deductible from your federal taxes and possibly state taxes.* *Consult a tax professional for more information.
Making monthly loan payments is evidence that you are a responsible borrower, which builds your credit history. This will help you take out loans for other purchases, such as a car or even home renovations.
Owning a home gives you the freedom to create your dream living environment. Whether you want to update appliances, paint rooms, landscape a yard, own pets – you will have a house that is completely yours to customize.
A pre-approval does not constitute a loan commitment or guarantee of a loan. Pre-approval is subject to a satisfactory appraisal, satisfactory title search, and no meaningful change to borrower’s financial condition.
Branch NMLS# 237341. American Financial Network, Inc. is licensed by the California Department of Business Oversight under the California Financing Law License (6038771) and holds a CA Bureau of Real Estate, Real Estate Broker’s License (01317581) under Nationwide Mortgage Licensing System (NMLS), unique identifier of 237341. Broker is performing acts for which a license is required. Loans made or arranged pursuant to California Financing Law. Refer to www.nmlsconsumeraccess.org and input NMLS #237341 to see where American Financial Network, Inc. is a licensed lender. In all states, the principal licensed office of American Financial Network, Inc. is 10 Pointe Drive, Suite 330, Brea, CA 92821; Phone: (714) 831-4000 (NMLS ID#237341). This is not an offer for extension of credit or commitment to lend. All loans must satisfy company underwriting guidelines. Not all applicants qualify. Information and pricing are subject to change at any time and without notice. The content in this advertisement is for informational purposes only. Products not available in all areas. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC, 20580. American Financial Network, Inc. is an Equal Housing Lender.