Watch Robert and Jason to learn more
From the September KNWA interview with Robert Brown and Jason Sue
No Headphones. No Problem. See below for transcript.
Well it's safe to say that the
coronavirus pandemic has upended our
lives in more ways than one
as arkansans stay home working many find
themselves rethinking
their living arrangements more and more
local arkansas are considering
purchasing a new home
with more land a backyard oasis more
space for home offices
so here to discuss why purchasing a home
is something everyone
can do even during a global health
crisis
we've got robert brown loan officer with
rock mortgage
hey robert how you doing good
good i'm interested to talk to you about
this subject so
tell us why buy when you can just rent
you know particularly now buying is a
much better idea than renting rates are
extremely
low historically low cost over time will
be greatly
reduced we've all been spending a lot
more times at home recently and noticing
uh how we can improve our homes and in
our lives
homeowners have the flexibility of
changing their surroundings without
asking permission
furthermore homeowners have a lot more
stability and protections in place
compared to renters
plus you're building wealth when you
rent
you pay the landlord's mortgage and then
some but when you own your own home
you build equity as long as your
financial picture allows it
i would strongly strongly consider
buying a home right now is a perfect
time
yeah that's that's great advice now we
hear a lot about the 20
that you got to put down what if buyers
can't afford to put down a full 20
on a home you know that's that's a big
misnomer
you don't have to put 20 down to buy a
home
actually the average is about six
percent down uh there are many different
loan types
that require no down payment uh some you
know working with the right lender what
we do is we find the best option for you
given your situation
there's anything from an rd loan a va
loan a home ready loan
uh for a first time home fire home
possible loan there's many different
loan types
but getting your down payment together
and having the money ready in the bank
can sometimes
be a long process maybe you've been
diligently saving and have a nice nest
egg but
more times than not people need to
liquidate other investments
to have the cash on hand sometimes this
can take some time
so having the cash sitting in a bank
ready to go uh
will help you quickly when you're when
you're trying to find that dream
yeah that's great advice i'm really um
i'm blown away by that statistic of
six percent is really the average what
most people put down
um uh we've got you for a little bit
more time here robert what is the first
thing that someone should do when
beginning this home buying process
you know uh inventory is very slim right
now and you need to be able to react
so the very first step is going to be
getting with a trusted advisor
and a loan loan officer and getting
pre-qualified you want to be ready
to jump on that house as soon as you
find it and fall in love because there
might be several other offers
there with you yeah wow
and why do you think people right now
might be a little bit hesitant about
purchasing a home you know there's
uh there's no doubt buying a home is a
huge financial commitment
however it is a sound and smart decision
and homes are moving quickly right now
when you look at the economics of owning
your home versus renting renting is much
more expensive
according to money magazine on average
home home owners
pay just over about 15 for their monthly
income
on mortgage payments while renters pay
about 30
of their monthly income on rent
homeowners do have to worry about
insurance home and
home maintenance and property taxes but
instead of just giving your money to
your landlord you're building wealth
you're building that equity
yeah robert thank you so much for taking
the time and of course we've got all the
contact information that you need
to learn more about rock mortgage over
on our website good
dot day nwa.co
