Tired of paying rent and ready to become a homeowner? Good news! According to Trulia’s recent rent vs buy report, buying a home remains a cheaper option than renting, thanks to relatively low interest mortgage rates and fast-rising rents. And, even better news, you’ve taken a step in the right direction when it comes to saving money — buying can be nearly 40% cheaper than renting.
But before you start picking out curtains and furniture for that new home, there are some financing decisions that need to be made. Determining what type of mortgage is best for you and your family may seem intimidating, but there is one out there that’s right for you.