The decision to buy or rent a home can be challenging. On behalf of the team at Equity Prime Mortgage, we would like to share with you a few reasons as to why purchasing a home can be a smart financial decision.

Build equity – when you rent a home, your monthly payments can help you build credit. However, when you own a home, your monthly mortgage payments may allow you to build equity over time.

Stable Payments – often times, rent payments increase over time. With a mortgage payment, you are able to lock in a fixed-rate so your principal and interest will remain the same. Plus, a monthly mortgage payment may be less expensive than rent.

Tax Benefits – real estate property taxes, interest and other origination fees may be deductible on your income taxes.

The benefits of homeownership may await and Equity Prime Mortgage is here to support you through the process.

Please contact us at 609-597-0007 or info@equityprimenj.com to further discuss how owning a home may be more beneficial for you.