Available 7 Days/Week       MON - FRI  8am - 7pm       SAT - SUN  10am – 6pm
Call us (888) 259-2257
Apply Now

When you are ready to make the move!

Owning a Home is Different

When you’re renting, the landlord and property owner are doing a lot of stuff that you may not realize. Tenants pay the rent, take out their trash, and keep the unit in decent condition. That’s about it. The landlord does everything else. Property is a big investment. If you’re thinking about switching to home ownership for the first time, educate yourself about the differences and the new responsibilities you’ll take on.

 

When transitioning form renting to owning, get an honest idea of all the costs of ownership in money, time, and work. Consider all the ways owning a house is different from renting as well as the benefits of homeownership.

  • More upfront money: With renting, it’s first, last, and security deposit. But buying a house involves a lot more upfront money, including earnest money, down payment, private mortgage insurance, inspection, appraisal, and other closing costs.
  • More time: If your occupation or that of your spouse might require moving in the near future, buying may not be right for you. It’s recommended that you plan to invest at least 4 or 5 years in one place if you’re buying.
  • More work: If anything breaks, you have to fix it or pay someone else to do it. There’s also a lot of preventive maintenance to keep a house in good condition.
  • More commitment: You have a responsibility now to take care of the buildings and grounds. You’ll have an eye on resale value years in the future.
  • More worry: A house includes many different systems with various components in good working order to keep it habitable and comfortable. One pipe leak or bad storm can mean a stressful, expensive nightmare.
  • Less freedom and less flexibility: A house and its contents tying you to one place can be a bad thing and a good thing. It’s not so easy to pack up and move to a different city or state. But you finally have “roots” and a place to call your own.

The land and buildings are yours. You can do nearly anything you want to make it your home. Also in the long run, home ownership is more financially lucrative. As a renter, you’re paying someone else’s mortgage. As a homeowner, if values increase in the future, you’ll be paid to live in this house.

 

Preparing to Buy a House

There are a few practical preparation steps to get in position to buy a house:

Step 1 is getting your financial situation in order, which means paying off debts and improving your credit score. Your debt-to-income ratio and credit score are among the things lenders consider when deciding whether to loan you money and at which interest rate.

Step 2 is getting pre-approved for a loan. This process will help you get an idea of the lending process and factors. More importantly, it will give you a price range to stick to when shopping for a house.

Step 3 is budgeting for the whole process from house hunting, packing, closing, moving, and ownership. Will your mortgage require a down payment, inspection, appraisal? You’ll need to get used to all the additional expenses of home ownership that you never had to think about as a renter, including;

  • Monthly mortgage payments
  • Property taxes
  • Homeowners insurance
  • Utilities
  • HOA fees
  • Maintenance
  • Emergency repairs

Step 4 is learning as much as you can about the home buying process and all the costs, steps, factors, and instruments involved.

Step 5 is hiring an experienced, helpful real estate agent to offer advice and guide you through the transaction.

The home buying process is not as quick and easy as signing a lease. It requires months of paperwork, offers and counteroffers, negotiations, and inspections. You’ll need to muster the stamina, commitment, and organization to see it through to the end.

When transitioning form renting to owning, get an honest idea of all the costs of ownership in money, time, and work. Consider all the ways owning a house is different from renting as well as the benefits of homeownership.

  • More upfront money: With renting, it’s first, last, and security deposit. But buying a house involves a lot more upfront money, including earnest money, down payment, private mortgage insurance, inspection, appraisal, and other closing costs.
  • More time: If your occupation or that of your spouse might require moving in the near future, buying may not be right for you. It’s recommended that you plan to invest at least 4 or 5 years in one place if you’re buying.
  • More work: If anything breaks, you have to fix it or pay someone else to do it. There’s also a lot of preventive maintenance to keep a house in good condition.
  • More commitment: You have a responsibility now to take care of the buildings and grounds. You’ll have an eye on resale value years in the future.
  • More worry: A house includes many different systems with various components in good working order to keep it habitable and comfortable. One pipe leak or bad storm can mean a stressful, expensive nightmare.
  • Less freedom and less flexibility: A house and its contents tying you to one place can be a bad thing and a good thing. It’s not so easy to pack up and move to a different city or state. But you finally have “roots” and a place to call your own.

The land and buildings are yours. You can do nearly anything you want to make it your home. Also in the long run, home ownership is more financially lucrative. As a renter, you’re paying someone else’s mortgage. As a homeowner, if values increase in the future, you’ll be paid to live in this house.

Mortgage Calculator
$
%
Calculate
Helpful Tools
Get Pre-Qualified Prove you are ready to buy
See Current Mortgage Rates Compare today’s rate in real time
Mortgage Calculator Estimate your monthly payment
Affordability Calculator See how much you can afford.
Mortgage Glossary Read mortgage terms & definitions
See How Much You Can Borrow

You’ve estimated your affordability, now get pre-qualified by Fidelity Home Group to find out just how much you can borrow.

Get Pre-Qualified
Reviews

We deliver an unparalelled concierge experience for all of our clients.

See Our Reviews
Affordability Qualifier
$
$
Calculate

SEARCH FLORIDA COMMUNITIES

    .

*Assumes 2.799% APR, 20% down payment, and conforming 30-year fixed rate first mortgage on a single family, primary residence. The monthly payment you enter includes only principal and interest. Additional required amounts such as taxes, insurance, home owner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Not all individuals will qualify for a mortgage loan based on the payment entered. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice.  **Posted APR is based on Mortgage Assumptions
 
 
Copyright © 2021 Fidelity Home Group supports Equal Housing Opportunity | All Right Reserved  | NMLS Identifier 1834853. Fidelity Home Group is not affiliated with the Department of Housing and Urban Development (HUD) or the Federal Housing Administration (FHA). Fidelity Home Group is a Mortgage Corporation serving the state of Florida. Not intended for legal or financial advice, consult your own professionals if such advice is sought. This site is not authorized by the New York State Department of Financial Services. No mortgage loan applications for properties in the state of New York will be accepted through this site. Accessibility Statement  | Consent to Receive Electronic Loan Documents  |  Cookies Policy   |  Disclosures  | Email and Mobile PolicyFair Lending Policy  |  File a Complaint Mortgage Assumptions  |  NMLS Consumer Access  |  Privacy Policy  |  Terms of Use 

florida mortgage, florida mortgage rates, florida mortgage claculator, florida mortgage broker, florida mortgage lender, florida mortgage compamny, mortgage broker near me, mortgage brokers near me, orlando mortgage, orlando mortgage rates, the villages mortgage, the villages mortgage rates, the villages mortgage lender, the villages mortgage broker, naples mortgage, naples mortgage rates, naples mortgage lender, naples mortgage broker, florida keys mortgage, florida keys mortgage rates, florida keys mortrgage lender, florida keys mortgage broker, cape coral mortgage, cape coral mortgage rates, fort myers mortgage, cape coral mortgage lender, cape coral mortgage broker, fort myers mortgage rates, fort mayer mortgage, fort myers mortgage lender, fort myers mortgage broker, sanible island mortgage, sanibel island mortgage rates, sanibel mortgage lender, sanibel mortgage broker, anna maria island mortgage, anna maria island mortgage rates, anna marie mortgage lender, anna maria mortgage broker, clearwater mortgage, clearwater mortgage rates, clearwater mortgage lender, clearwater mortgage broker, bonita springs mortgage, bonita springs mortgage rates, bonita springs mortgage lender, bonita springs mortgage broker, marco island mortgage, marco island mortgage rates, marco island mortgage lender, marco island mortgage broker, st. augustine mortgage, st augustine mortgage rates, st. augustine mortgage lender, st. augustine mortgage broker, st. augustine beach mortgage, st. augustine beach mortgage rates, st. augustine beach mortgage lender, st. augustine beach mortgage broker, tampa Bay mortgage, tampa bay mortgage rates, tampe bay mortgage lender, tampa bay mortgage broker, st. petersburg mortgage, st. petersburg mortgage rates, st. petersburg mortgage lendser, st. petersburg mortgage broker, bradenton mortgage, bradenton mortgage rates, bradenton mortgage lender, bradenton mortgage broker, bradenton beach mortgage, bradenton beach mortgage rates, bradenton beach mortgage lender, brandenton beach mortgage broker, sarasota mortgage, sarasota mortgage rates, sarasota mortgage lender, sarasota mortgage broker, longboat key mortgage, longboat key mortgage rates, long boat key mortgage lender, long boat key mortgage broekr, key west mortgage, key west mortgage rates, key west mortgage broker, key west mortgage lender, key largo mortgage, key largo mortgage rates, key largo mortgage lender, key largo mortgage broker, isalamorada mortgage, islamorada mortgage rates, islamorada mortgage lender, islamorada mortgage broker, big pine key mortgage, big pine key mortgage rates, big pine key mortgage lender, big pine key mortgage broker, marathon fl mortgage, marathon fl mortgage rates, marathon fl mortgage lender, marathon fl mortgage broker, upper keys mortgage, upper keys mortgage rates, upper key mortgage lender, upper keys mortgage broker, lower keys mortgage, lower keys mortgage rates, lower key mortgage lender, lower keys mortgage broker, apalachicola mortgage, apalachicola mortgage rates, apalachicola mortgage lender, apalachicola mortgage broker, st. geoerge island mortgage, st. geoerge mortgage rates, panama city mortgage, st. geoerge island mortgage lender, st. geoerge island mortgage broker, panama city mortgage rates, panama city mortgage, panama city mortgage lender, panama city mortgage broker, panama city beach mortgage, panama city beach mortgage rates, panama city beach mortgage lender, panama city beach mortgage broker,

Fidelity Home Group
4700 Millenia Blvd Suite 175, Orlando, FL 32839

Hours of Operation:

Monday - Friday 8am to 7pm EST
Saturday - Sunday 10am to 6 pm EST