Is it Better to Buy or Rent?

Is it better to Buy or Rent? Whether renting is better than buying depends on many factors and you.

Right now mortgage interest rates are at an all-time low.... it is hard to give you exact figures, as  interest rates change daily. The interest rate that you would receive would depend upon many   factors including: income, debt, credit scores and other personal information.  .

FHA loans are very popular because they require a very low down payment as low as 3.5%  http://www.hud.gov/buying/loans.cfm  and allows a  Seller’s contribution towards the closing costs.

CHFA mortgages are also available.

In many cases you can get a better deal when buying  a Bank Foreclosure or a Short Sale.  A short sale can take quite a bit of time, as many approvals and releases need to be secured before a closing can take place. A good attorney would help you through this process.

I would suggest that you contact a mortgage specialist  who will help you decide which mortgage package is right for you , what you can afford, and what you are comfortable paying.......THEN START LOOKING!!!!!...   Your monthly payments would include principal and interest on the mortgage, taxes  and insurance  on your home, some of which is a tax deduction, helping to reduce your Federal Tax Liability.

The rental market is currently strong. There is  definitely a lack of  single family houses for rent in Clinton.

 There are 5 single family homes on MLS  for rent including a small 1 bedroom /cottage, then there is  a 2 bedroom cape under 1,200 sq.ft  is offered at $1,650 for a  1 year lease and the rest start at $ 2,000 a month and go up. These homes do have 2,000 sq. ft. or more of living space. The responsibility, if anything goes wrong, is the landlord's, not yours. But the equity that is building in the homes value is also the landlord's,not yours.

There are pros & cons that come with being a home owner,  property maintenance, repairs, taxes. but look at the bigger picture: "IT'S YOURS" I think it is still a wise investment  if you can qualify for a loan.