DO NOT RENT BUY!!!!!!!!!!!!!!!!!!!!!!!!! As a renter, your monthly payments are simply given to your landlord. But as a homeowner, your monthly mortgage payments can be used for tax deductions while you’re building equity! That means you can pay less tax AND take advantage of any increases in your property’s value. That’s something no rental unit can offer. Think you can’t afford to own a home? Think again. It’s a buyer’s market and thanks to today’s low interest rates and a number of first-time homeowner programs, you may be able to buy a home for the same monthly payment you’re making now. You may even Qualify for a low- or no-down payment loan to minimize your upfront costs. Worried about your credit record? We specialize in helping people with less than perfect credit. With over 100 loan products to choose from, Tenacity Mortgage offers a variety of programs for people with all types of credit histories and financial needs. Call Tenacity Mortgage today Tenacity Mortgage is a company dedicated to customer service and helping you become a homeowner. Our mortgage specialists will evaluate your current financial situation and provide more information about your purchase options.
What is a reverse Mortgage? A reverse mortgage is a government sponsored loan program for senior citizens who are age 62 years or older. With a reverse mortgage, a senior is able to bor¬row against the equity of the home without having to pay back the money for as long as he/she lives in the home. The only requirement is, that the senior continues living in the home, maintain the property taxes and the home owner’s insurance coverage. The reverse mortgage programs we offer at Tenacity Mortgage, are Federal Housing Administration (FHA) programs, insured by the US Government and are heavily regulated by the Department of Housing and Urban Development (HUD), for your protection. One of your concerns might be that there will be no equity left in the home once you open a reverse mortgage, but with a Government Insured Reverse Mortgage, the senior is able to borrow only a portion of the equity of the home to pay off the current mort¬gage (if there is one) and get cash out. So there should be plenty of equity left in the home after the loan is settled.