Have you been thinking it might be time to stop paying rent and buy a home? Do you like the idea of investing in your future? We will show you three key areas of your life you need to assess to help decide if now is the time!
The decision to buy a home is major. Maybe you are going to open houses or looking at available houses online and excited, but at the same time you’re overwhelmed by the financial responsibility you will take on with a mortgage.
Mortgage Protection Insurance can help you to protect not only your investment but your loved ones as well. 20/20 Mortgage Protection Insurance provides:
- The financial security that allows you to choose your beneficiary
- Financial freedom, allowing your loved to spend the payment in a way that makes the most sense for them (paying off the mortgage, taking time off work to look after children, going back to school to advance a career)
20/20 Mortgage Life Insurance Offers Your Family the Financial Protection
At AIME, we have designed 20/20 Mortgage Life Insurance, a flexible, affordable, and transparent product that can be customized to suit all your unique needs.
Want to know more?
A home is a huge investment and buying your first home will require time and patience in addition to money. There are many factors to consider before making the move from renting to owning a home. When the time is right, with the right information and preparation, you can make the move confidently!
RENTING VS BUYING: WHICH IS RIGHT FOR YOU?
Want to Buy a House? 3 Key Areas of Your Life to Assess
1. Your Income
- You should not put more than 30% of your income toward a mortgage payment.
- You have been employed in the same position for the past 2-3 years. There are no guarantees but the longer you have been with an employer, the more stable your income looks at the bank.
- You are confident your current employment is reliable and will continue.
- You have received a raise or promotion and your income has increased.
2. Your Money
- You have a history of paying your bills consistently on time without fail. This will affect your credit rating in a positive way and prepare you to make the additional payments required when owning a home including utilities, insurance, and taxes.
- In addition, you have managed to pay off other big long-term debts including student loans and car loans.
- You have saved a significant amount for your down payment. Being able to put down at least 20% gives you lower monthly payments, and also gives you the option to purchase Mortgage Protection Insurance rather than the bank offered Mortgage Insurance.
READ MORE HERE ABOUT THE BENEFITS OF MORTGAGE PROTECTION INSURANCE
3. Your Future
- You know for sure that you want to be in the same location for a period of time. A home is an investment and in order to make the most from the money you put into it, it is best to plan to remain in the same home for at least 5 years.
- You know that your future goals will not require any large expenses, or you have planned for them in addition to your mortgage. This might include starting a family (and taking time off work) or going back to school.
Call Today
To find out more about our Mortgage Protection Insurance products, contact us at 1-844-974-2020 or fill in our online contact form.
