Buy a House, Get a Raise!
July 21, 2009 by Eleanor
Filed under About Scores and Credit, Score Strategies
Buy a House, Get a Raise! I’ve told people this for years, and they don’t always understand. You see, when you purchase a house, it gives you a tax incentive, and so if you are paying $1200 a month for a mortgage payment you are likely writing off at least $400 a month in interest and taxes! So a house / mortgage payment of $1200 does not compare with a rental payment of the same thing!This blog is about CREDIT. Did you know that rental history is not adding anything to your credit – but homeownership does?Well, your landlord does not report to the credit bureau unless you’ve screwed something up! (then they become BULLDAWGS!) A mortgage company, reports an ontime, monthly installment debt. This can be a HUGE lift to your credit score! 8o))Just one more reason to call us about purchasing a home in NC! Steve and Eleanor Thorne, First Financial Services, Inc at 919-851-3031.
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