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                                 Mortgages & Finances
                    Rent or Mortgage, Why Does It Matter?
                                                              (Robbi Ernst, great wedding Tips From The Experts

When considering their post-marriage living situations, "Newly Weds" really want to give considerable thought to their living accommodations.  It's true that more often than not the "first home" for a married couple is temporary, even if that might mean several years.  Therefore they "rent" an apartment or house thinking it to be the best solution to the question: "Where are we going to live?  Your place, mine or somewhere else"?  A couple may not have sufficient funds for a down payment and the money needed for "closing" costs.  Also, they may yet to establish the necessary credit rating.

If you are going to live in a place for more than three years, then your money may have greater value if you put it into something permanent.  Too, we are in a period of lower interest rates.

If you don't have a long-term or a good credit rating, consider trying to get a "stated income" loan.  It may mean that you will have to pay a higher interest rate or put up a lager down payment, but you will have the opportunity to build a good credit rating.  And, in just a few years you will have something that has increased in value and a better return on your monthly payments for rent/mortgage, i.e. you will have a piece of property that you can sell or trade in on another home when you are more established and settled.

 
 

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