I have actually owned a house for over 20 years now... Oh my, how the time flies! (I feel so old.) A few years before this crazy real estate market began, I had walked away from the sale of my first tiny little house in Schenectady (purchased back in 2001) - with almost $50,000.00 in my pocket.

I can state with absolute certainty – that if I had not purchased that home, there would have been no possible way for me to ever acquire $50,000.00 – yet I did – just from owning my house. I had earned it, without even trying. Despite years of outstanding debts and facing financial hardships. Even paying my $450.00 mortgage had been a real struggle, after unexpectedly losing my job of 10yrs.

Fortunately the mortgage company was always willing to work with me - even through (too many) hard times. Had I just been a tenant unable to pay rent, I would have been simply evicted out on the street. 

Of course after 17 years of owning that house I had built up equity – 

But my buyer turned around and sold it again only 3 years later - for $40k more than they paid. Although I should be upset, I wanted to move – Kudos to them for taking advantage of the market! I also made a smart choice buying my current house, so all my equity continues to grow right here.

If you have reliable income, if you currently pay rent, if you pay your bills on time – even a little late! It costs zero dollars and a whole lot of common sense to find out if you can get a mortgage right now. Even if you do not qualify right now, or for as much as you had hoped – find out what you need to do!

Get started on building your financial security today. Know exactly where you stand - and what you should do about it. The answers may just surprise you. You do not need to have perfect credit, or thousands of dollars in the bank. Just because one lender or mortgage broker has denied you – don't give up - please try again! Buyers often have to speak with a few different mortgage professionals before finding one that works. I have a list of local lenders who have made real miracles happen!

Being responsible for a mortgage can be scary when your resources are limited, but you will always have to pay to live somewhere. At least when you own a home there are always options - you can rent out an extra room or that finished basement or garage, let someone park an RV or boat in your driveway or yard, perhaps if you have a big enough yard someone has a dog or kid that could rent it out hourly for the use. Yup, there is even an app for all of that!!

Maybe you should consider to purchase a two-or-three family home since the bank will actually consider your additional rental income from the units. This can take you from tenant to landlord in the blink of an eye. Owning an investment property is not for everyone, but it can provide alternative income solutions as well as supplemental housing for friends and family.

A mortgage is the largest amount of money at the cheapest rate that anyone is ever going to loan you! This is the only investment that you can acquire with as little as 3.5% down and the rest in 360 monthly payments – Be smart and use this money wisely to get the best return you can on your investment.

A mortgage loan is for at least 10 years, most often for 30 years - its 1/3 of your lifetime. If someone asked to borrow $1,000.00 with 30 years to pay it back at 3% interest you would laugh; However we ask the bank to do relatively the same thing, on a much larger scale just for our benefit.

We all know what the bank stands to gain should you default on your loan – but what you ultimately gain once that loan is satisfied is a whole lot more. Now is the time to take advantage of the cheapest money that you can ever qualify for, and use it to make the wisest investment you can - in real estate.

Owning property establishes personal wealth, and provides sanctuary for the future. Making your monthly mortgage payment is literally like putting your money in a savings account. Making improvements upon your property compounds additional interest to those savings. Don't just make improvements to your property just because you think it makes it more valuable – do it because you will enjoy it, benefit from it, and it makes you feel great to look at!

Below is a link to list of local Mortgage Experts that can help you take the next step to your home buying future!