The homes are built in the United States maintaining the high standards. More than 40 million tourists visit the country annually, which creates a very strong rental market.
Besides this, the process of buying property in the United States is straightforward and transparent.
Why Should I buy, instead of rent?
A house is considered as an investment. When you rent a property, you write your monthly check and that money is gone forever. But when you have your own property, you can subtract you’re the cost of your mortgage loan from the federal income taxes and from your state taxes too.
Is using a real estate agent, good or a bad option?
It is a very good idea to use a real estate agent. This is because a professional real estate agent can help you tackle various mind- boggling situations, such as the details involved in buying a house, financial matters etc.
A real estate agent is well- acquainted with various important things that will help you making the property related task easier.
When do I get to know that I am ready to buy a home?
To know whether you are ready to buy a house or not, ask few questions to yourself.
- Do I have a steady income of source?
- Have I been employed on a regular basis at least for 2- 3 years?
- Do I have a good record of paying bills?
- Do I have money saved for a down payment?
- Do I have an ability to pay a mortgage and additional cost every month?
What is PMI?
The term PMI stands for Private Mortgage Insurance or Insurer. These are the private- owned companies that provide mortgage insurance. It offers both the standard as well as special affordable programs for the borrowers.
What do I get at closing?
- Truth- in- lending statement
- Settlement statement
- Mortgage note
- Mortgage or deed of trust
- Binding sales contract and
- The keys to your new home