The Ten Commandments of Buying a Home
- Thou shalt not change jobs, become self-employed or quit your job.
- Thou shalt not buy a car, truck or van (or you may be living in it)!
- Thou shalt not use credit cards excessively or let current accounts fail behind.
- Thou shalt not spend money you have set aside for closing.
- Thou shalt not omit debts or liabilities from your loan application.
- Thou shalt not buy furnative.
- Thou shalt not originate any inquiries in to your credit.
- Thou shalt not make large deposits without checking with your loan officers.
- Thou shalt not change bank accounts.
- Thou shalt not co-sign a loan for anyone.
Los Diez Mandamientos para Comprar una Casa
- No deberás cambiar de trabajo, ni auto-emplearse ni renunciar al trabajo.
- No deberás comprar un carro, ni un camión, ni una Van (o vivir en ella)!
- No deberás usar tarjetas de crédito excesivamente o atrasarte con los pagos de las targetas.
- No deberás gastar el dinero que separaste para el cierre de la hipoteca.
- No deberás dejar de avisar sobre deudas y pasivos en tu aplicacion para el préstamo hipotecario.
- No deberás comprar meubles.
- No deberás solicitar que verifiquen tu crédito (pull the credit - credit report).
- No deberás realizar grandes depositos sin chequear antes con tu oficial de hipotecas (Loan Officers).
- No deberás cambiar de cuentas bancarias. Hay que mantener las cuentas como están.
- No deberás avalar ningún préstamo, para nadie.
The Real Cost of Renting
| If rent is: |
1 Year |
5 years |
10 years |
15 years |
| $500 |
$6,000 |
$30,000 |
$60,000 |
$90,000 |
| $600 |
$7,200 |
$36,000 |
$72,000 |
$108,000 |
| $700 |
$8,400 |
$42,000 |
$84,000 |
$126,000 |
| $800 |
$96,000 |
$48,000 |
$96,000 |
$144,000 |
| $900 |
$10,800 |
$54,000 |
$108,000 |
$162,000 |
| $1,000 |
$12,000 |
$60,000 |
$120,000 |
$180,000 |
| $1,100 |
$13,200 |
$66,000 |
$132,000 |
$198,000 |
| $1,200 |
$14,400 |
$72,000 |
$144,000 |
$216,000 |
| $1,300 |
$15,600 |
$78,000 |
$156,000 |
$234,000 |
| $1,400 |
$16,800 |
$84,000 |
$168,000 |
$252,000 |
| $1,500 |
$18,000 |
$90,000 |
$180,000 |
$270,000 |
| $1,600 |
$19,200 |
$96,000 |
$192,000 |
$288,000 |
Wouldn't you rather put that money into your own home and build your own equity?
