COST OF RENTING VS BUYING – WHICH WAY TO GO?
The infographic below shows a few figures about Cost of Renting vs Buying … I bet that a few of you will be quite surprised.
In OKC Metro area an apartment monthly rent for 2bed+2ba ranges on average between $750 to $1400 and up. It depends on location, amenities and age of the apartment complex, of course.
If you are thinking about your own four corners, however, and getting some return on investment for your hard earned money – then an idea of buying a house is really something you could give some serious consideration. A monthly payment for a NEW HOUSE around $185K with 30 years FHA mortgage & 3.5% downpayment will run around $1100.00-1200.00.
Typically an FHA loan is one of the easiest types of mortgage loans to qualify for because it requires a low down payment and you can have less-than-perfect credit. For FHA loans, down payment of 3.5 percent is required for maximum financing. Borrowers with credit scores as low as 500 can qualify for an FHA loan.
Start your home search below. Give me a shout if you have questions, need a good lender and are ready to check what should be your next step in home buying process. If you are ready to make a move give me a call, if you need more time to get ready give me a call, too – it will be my pleasure to plan steps on your new home journey.
But before then: Read this
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They serve Oklahoma and OKC Metro: Yukon, Mustang, Bethany, Piedmont, Tuttle, Blanchard, Newcastle, Edmond, Oklahoma City, Moore and Midwest City.
Whether you plan to buy, sell or relocate to our beautiful State of Oklahoma we are here to offer professional service and consultation.