Per Joel Richardson Lender, Rent Vs. Own Analysis.

Hey ASM Crew-

This little analysis may help your renters get off the rent fence. You can either click the link below or hit the QR code—same presentation.

The comparison:

renting at $2500/mo + renters insurance + misc fees (pets, parking space, etc). It also assumes a 3% savings rate for their money

Versus

buying a $400K home with 3 options: 5% down conventional, 10% down conventional and FHA (3.5% down). It also assumes a property appreciation rate of 4% and the income tax bracket (for tax savings).

Results:

At the end of the day, with the tax write offs, owning is > $300/mo cheaper than renting.

Look at the tax benefits over 5yrs. Around $55K in write offs!

Remember, renters pay 100% interest (or $516K on this) vs $320K to $340K in interest and MI over that period. WOW!

Link: https://mcedge.tv/8z1tvq

I’d love to come to a staff meeting to run through this with you!

Joel

Thank you for your business and referrals which help make our business thrive:

Top 1% Scotsman Guide | Chairman’s Club | Top 20 in ABJ Book of List Mortgage Executive | Top 1% Originator |

Five Star Mortgage Professional | Top Mortgage Professional in Austin Monthly’s Peer-to-Peer Survey

Email: jrichardson@primelending.com
Website: www.myfinanceteam.com
7000 N. Mopac Expressway, Suite 400A
Austin, TX 78731

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PrimeLending, A PlainsCapital Company NMLS#: 13649. Equal Housing Lender.

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