Welcome to First Home Spokane
Your best resource for purchasing a home!
If you are tired of throwing money away on rent or paying someone else’s mortgage, now is the time to seriously consider purchasing your own home. In many cases, your house payment is similar to what you are paying monthly in rent.
There are many things that can keep someone from purchasing a home:
No down payment saved up
Having problems showing your income to a lender
Not being able to find an affordable house
Not knowing where to even begin
Credit score is not high enough or having a past credit delinquency
Lack of ability to pay closing costs
Debt to Income ratio is too high
How We Can Help
Let’s Do the Math!
Owning your home not only creates a sense of pride and accomplishment, but it is a stepping stone to building wealth through investment! Your home will continue to gain value over the years and open future opportunities for you.
Here is a real-life example of a First Time Homebuyer’s experience with our brokerage:
The homeowner purchases a home in 2016 for $153,000. They were previously paying $1295 for a newer 1-bedroom apartment. Mortgage payments, including taxes and insurance, as a homeowner is $1288. As of today, after 5 years, the homeowner would have paid $77,7000 in rent. Instead, because they purchased, they paid $77,280 in mortgage payments. Their home just appraised for $415,000. The math on that is $262,000 in equity! Even after the money they have spent on mortgage payments, their net profit equity is $184,720. Imagine how long it would take you to save $184,720. They generated this in 5 years’ time by purchasing their first home. This same homeowner decided to upgrade their home and rent out their first home because they can now rent it out for $2,000 per month. This is $712 in cash flow each month. Now they have an income property and were able to afford a nicer home without paying more out of pocket each month. This is truly a no-brainer!
This could be you. Contact us today!
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