For most folks, renting is likely a short-term situation. In the long run, you can recoup money and build equity by owning a home. Houses typically appreciate in value as well. Neither scenario takes place while renting however. In some cases and in certain areas of our country, your mortgage payment may be cheaper than rent, like right here in Northeast Ohio. When you own a home, you do not have to worry about the landlord increasing rent costs unexpectedly. Mortgage payments and terms are fixed most of the time, changing very little at all. And with loan programs like FHA, less money is required up front at closing. You can even renovate a home and cut down on maintenance costs with an FHA loan. Want to buy a house and enjoy some easy, cheap living? Getting educated on the loan process allows you to make smarter financial decisions. Ask us how.