Oregon Mortgages

Rent Vs. Own

This has to be my favorite topic to debate on. A lot of people think that it will just “cost too much to own” so they’d rather rent. I’ll argue my points with people and explain tax advantages…etc. I mean, when I first bought my home in Springfield, Oregon I was a single male with 2 roomies. With what I charged them I effectively paid less than what I was paying when I was renting a room from my own brother! IN FACT, I actually made money off of my home. With the tax savings I was able to get from being a home owner I not only paid less on a per month basis, the money I got back from taxes covered that and then some. I worked it out with my accountant and I had actually made something like $1400 which I thought was pretty sweet.

So this post wasn’t to gloat that I had made money off of my friends (although it was pretty nice to do) but to ask people when faced with the ancient fight between renting and owning (when the payments can be pretty similar and after the tax savings they could be exactly the same.) Of course I am not a tax adviser so I direct my clients to an accountant but I speak from experience.

I’m always trying to help people enjoy the benefits of being a home owner. I think sometimes when I’m talking to people about the benefits they think I am being biased because I am a Loan Officer and I get paid for convincing them. Yes I do get paid for providing Mortgages in Lane County Oregon but At the same time, I wouldn’t put ANY of my clients into a situation that I felt would be bad for them. It is my job to look at their financial situation as a whole and to help them determine what is an affordable mortgage payment.

If anyone is curious and just wants to play around with interest rates and payment options feel free to check out our Mortgage Calculator.