Rising rent makes home ownership more appealing

The housing market crisis turned hundreds of thousands of homebuyers into home renters in recent years, leaving a surplus of vacant homes on the market. While saving a few pretty pennies in paying rent versus a home mortgage deemed more convenience for residents alike, renting has now ironically become inconvenient for many.

Due to the high demand, rental rates have increased rapidly in most markets, ultimately making home ownership the more viable option. With the excess of vacant homes on the market, prices for homes are now marked at historic lows, along with mortgage interest rates. This especially holds true for those willing to invest in a distressed property that may require a little more work. The problem, however, is that current renters seeking to purchase homes are unable to due to the many financial limitations and restrictions imposed upon them, especially if a foreclosure or short sale was involved.

Here at Premier Mortgage Lending, and with our Another Chance Home Loan Program, we will help you reopen the doors to home ownership. Don’t let your past burdens trouble you into the future. Call us at (702) 485-6600 or visit www.AnotherChanceNevada.com for more information.