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Home ownership has significant advantages, it’s a solid investment that can be used as a tax deduction and it provides solid collateral. But maybe now you are looking to purchase a second home or even a completely different home altogether. Even though you have been through the home buying process before, you may still need an expert to guide you and answer any of your questions. The Diamond Mortgage Group is here to help.
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Buying your first home can be a very trying experience. Working closely with one of our mortgage professionals will help you overcome your fears and assist you in becoming more familiar with the terms and requirements for getting a mortgage. Our preapproval process eliminates some of the stress in finding the home of your dreams.
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Because real estate historically increases in value, owning a home is a solid investment. Every mortgage payment you make is like a deposit in your own growing net worth.
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You may be able to find an apartment you like with affordable rent, but every year inflation can drive up the price. Although the cost of owning a home can increase with time too, your monthly payments—particularly with a fixed-rate mortgage—are not subject to inflation. |
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Most homeowners are entitled to tax deductions. Generally, the interest on mortgage debt can be deducted every year. In many states, property taxes and loan points can be deducted in the year they are paid. |
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Over time, the equity in your home (the difference between its market value and the mortgage balance) is a powerful asset you can use for a new car, education, remodeling—whatever you need. A Home Equity or Line of Credit allows you to put the equity in your home to work for you and provides for additional tax deductions. |
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When you own a home, you have the potential to lower your monthly payments by refinancing your mortgage. The money you save can be used to pay down other debt. |
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