Rent or Buy?

Rent or Buy? If you're wondering if you should stop renting, here are several things to keep in mind. Buying a Home Renting Your Budget A Home has been and still is for many a sign of the American Dream. You can save money in the beginning by renting, but is it worth it in the long-term? In the end, it comes down to what you can afford. Here are some But there are costs. things to consider: Home Rates 80 70 Given home interest rates, it's never been more advantageous to get a single family home loan. A home purchase depends on these interest rates to determine how much the home 60 50 40 30 will eventually cost. But there are other costs involved with purchasing a home. Below you will find some costs that go into purchasinga home as well as the yearly costs it takes to own a home as compared with renting to see what's best for you. 20 10 Jan Feb Mar Apr May Initial Costs Yearly Costs Rent Costs One Security Deposit Month Down Payment 20% Maintentance ??? Closing Costs $4,000+ Property Tax ??? Rent ??? Mortgage ??? Home Inspection $1,000 Home Insurance ??? Renter's Insurance $100+ If you're unsure of what you should do, the best thing to do is to speak with a OneUnited home mortgage expert. We can help you determine what's best for your budget and whether or not you should buy a home today. You can also do your research by looking at our calculators, rate guides and other resources. Buying a home can be an intimidating purchase. By choosing OneUnited, you can make the decision as easy as possible. OneUnited Bank. One Community, One Bank, OneUnited! For Sale Member FDIC LENDER Lease Now