The Cost Of Renting Adds Up
If your rent is $2,500 a month, that’s $30,000 a year gone. None of it builds equity. With a $2,500 mortgage, that money pays down your loan balance while your home’s value can grow. Renting funds your landlord’s wealth. Owning starts building yours.
Real Estate Builds Long-Term Wealth
Homeownership is about time. In Arizona, appreciation runs 1.5–2% in slower years and as high as 5–7% in stronger markets. Add that to your monthly loan paydown and you have two steady paths to wealth. Few financial tools give you both growth and a place to live.
Stability And Control
Renters face sudden changes. A landlord can decide to sell and give you 30 days to move. Owners set their own timeline. You decide when to refinance, remodel, or sell. Ownership gives you control and security that renting cannot match.
Lowering Costs Over Time
Many buyers can drop mortgage insurance after about five years on a conventional loan. Keep making the same payment and apply the difference directly to the principal. This accelerates payoff and increases equity.
Down Payment Options
Some buyers delay homeownership because of the down payment. We offer access to assistance programs, including true grants. These programs provide funds without a second lien, repayment, or refinance restrictions. Each case is different, and we lay out both paths: with assistance and without. Our goal is to match you with the right loan for your situation.
First steps to move from renting to owning:
- Get pre-qualified to learn your price range
- Review your credit and take action if needed
- Build a clear housing budget
- Compare down payment options: savings, assistance, or gifts
- Avoid new debt or large purchases before closing
- Ask about strategies to remove mortgage insurance sooner
A Recent Example
One Arizona buyer purchased a $450,000 home using a grant and closing assistance. His out-of-pocket cost was about $1,000. Programs vary, but this shows how planning and guidance can make ownership possible sooner than expected.
Time To Act
If you are paying rent of $2,000 to $3,000 a month in Arizona, you are already making a mortgage payment. The difference is whose future it builds. Owning gives you equity, tax advantages, and stability. Renting leaves you with none of these.
Take the first step today. We will show you your options, explain them clearly, and guide you through every step until you own your home.
– REHL Team Clemente at: clemente@ramonespinozahomeloans.com or Ramon at ramon@ramonespinozahomeloans.com.
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