*disclaimer: Not all individuals will qualify for each loan type and/or scenario. Please contact me to see if you'd qualify for these loan products and/or discuss your options.
We're only a few months away from graduations happening all over the country. For some, they're graduating high school and have aspirations to go to college, or begin working full time straight away. For others, they're graduating college and are excited to join the work force and not have to worry about school anymore.
Outside of finding a job or deciding on where you'd like to go to college, the next big step is to find a place to live.
For those going to college, the options you've probably found include apartments, dorms, shared housing, or fraternities and sororities.
For those who've graduated high school or college and are moving into full time work, the options you've probably found include apartments, shared housing accommodations, or rental agreements that will end up paying for someone else's mortgage.
What if you start the home buying process early? For those just graduating high school, you could find a home near a certain campus or within a big city and rent out the different bedrooms to friends to help pay for the mortgage. By doing this, you're able to earn equity, live with friends, and enjoy school or work life without the stress of having to pay a full mortgage on your own. By the time University finishes up and your friends move out, there's a good chance that you'll have a good amount of your mortgage paid off, and be well on your way to upgrading to a bigger home in the near future.
For those graduating from college, buying a home is one of the next big steps in life. To start out, you can still help out some friends by renting out rooms, but eventually, you'll want to transition into having a place of your own. Whether you purchase a townhome, single family home, or whatever other living accommodations you choose, it's smart to get into a home and start building equity as soon as possible.
For more information on purchasing a home and different options that are available to you, please give me a call! I'd love to help you start your journey towards becoming a homeowner.
*disclaimer: Not all individuals will qualify for each loan type and/or scenario. Please contact me to see if you'd qualify for these loan products and/or discuss your options.
Brayden Ramsay NMLS #1997195
Momentum Loans NMLS #1606597
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