Why rent if you could buy

Why Rent If You Could Buy?

Are you sick of throwing money away on rent and paying your landlord’s mortgage for them? Now might be a good time to ask yourself, “Should I rent or buy a house?

When it comes to renting an apartment vs. owning a home, there are a lot of misconceptions that can make home ownership seem like a distant dream to the average American. However, the days of needing a massive down payment or stressing about inflated monthly payments are long gone.

With dozens of different loan programs available, Veritas Funding makes buying a home more accessible and simple than ever before. Still not convinced that buying might be a better (and more realistic) option than you think?

A Quick and Easy Process

The Veritas Funding pre-qualification process and Purchase Booster Program are quick and easy. You'll quickly learn exactly what loan amounts and programs you're eligible for.

Just fill out a short application with some basic information, and a loan officer will reach out to you to get started! Then you can sit back while your Loan officer does the heavy lifting. That includes things like:

  • Verifying your employment and monthly income

  • Using the information in your credit to calculate all of your monthly debts and payment history

  • Running these numbers through a complex routine to establish your mortgage payment abilities

  • Compare a variety of loan types and see which is the best fit for you

  • and much more

Did we mention that there are no costs associated with a pre-qualification or a review of what size of home loan you would qualify for? The only fees associated with the loan process at all are calculated into your final closing costs (which are added when you find a home and close on it.)

There's no obligation, and we'll be happy to answer any questions you have. That means that even if you decide home ownership isn’t for you, our team will support your decision and can offer some advice for preparing for future homeownership.

No Savings Account Needed

Veritas Funding is committed to helping all homebuyers achieve their dreams of homeownership. No massive savings account? No problem.

Our  zero down programs are designed for buyers who may not have a large savings account, but still want to purchase a home without any down payment.

These programs offer a variety of flexible terms and competitive rates, making it easy to find the perfect fit for your needs. And because these programs require no down payment, you can be sure that you'll have the funds you need to make your dream home a reality.

Special Programs for a Variety of Credit Scores

Worried about an imperfect credit score or other debt holding you back? Here at Veritas Funding, we offer several specialized home loan programs that give a variety of buyers the opportunity to purchase a home, even if they may not be eligible to through more traditional programs.

At Veritas Funding, we understand that not everyone has perfect credit. That's why we offer specialized home loan programs that are designed to meet the needs of a wide range of buyers.

Whether you're dealing with student loans, medical debt, or any other type of financial obligation, we can work with you to find a program or solution to purchase a home.

Our programs are designed to be flexible and affordable, and our team of experts will work with you to find the best solution for your unique situation.

So if you're looking to buy a home but feel like your credit score is holding you back, contact us today and let us show you how we can help.

We specialize in finding creative solutions for buyers with less-than-perfect credit, and we're here to help you get the home of your dreams.

Low Closing Costs

We understand that taking out a loan is a big financial commitment. That's why we work hard to keep our closing costs low, so that our clients can afford their loan.

In many cases, your mortgage loan officer might even recommend wrapping your closing costs into your overall loan value, which could bring your overall costs due at closing to $0.

We want our clients to feel confident and comfortable with their loan, and our low closing costs are just one way that we can help.

In addition, Veritas Funding as a mortgage lender offers transparent costs throughout  the loan process. That means as your loan progresses you'll have clear documentation of all associated origination fees and costs and you will be made aware of any changes or adjustments.

Rent Increases Each Year

Rent prices are skyrocketing every year – According to a Redfin report, in 2021 rent in some U.S. cities shot up a staggering 35%! Meanwhile, in states like Utah, they saw rental fees grow 10-15% on average (which is still an extremely negative impact).

Even in less dramatic years, average rent continues to grow and grow. For people who are struggling to make ends meet as it is, these annual rent increases can put them in a very tough situation. Paying your bills can seem impossible.

Fortunately, Veritas Funding offers many fixed-rate mortgage loan options which means your monthly payment will not change over the life of the loan. For example, if you received a 30-year fixed rate loan, what you pay on the first month's mortgage payment will be the same as your last month 30 years from now!

You also have the opportunity to lower your mortgage payment in the future! There are a wide variety of ways to do this including:

  • Refinancing down from a higher interest rate

  • Refinancing to a new loan type like an adjustable-rate mortgage or interest-only loan

  • Paying down a portion of your loan early

By refinancing your loan at a lower rate in the future, or a wide variety of other means, you can actually save money on your monthly mortgage payments rather than seeing your rent go up each year.

The Many Benefits of Homeownership

Homeownership has many less obvious benefits, too: you could increase your credit score, qualify for tax write-offs, and enjoy the peace of mind and pride that comes with owning a house.

Why would you keep paying your landlord’s mortgage when you could buy and build your own equity instead?

Is Buying a Home Right for You?

The transition from renting to owning is a big one, but it’s worth it in the end. Let us help you make the change – Buy your first home with Veritas Funding today.