Renting can offer flexibility and lower short-term costs, while ownership may build wealth, reduce taxes, and become cost-effective over time for many households.
If a home fits your needs, compare lenders carefully and look for financing solutions aligned with your budget, goals, and buyer profile.
With current 30-yr fixed rates around ~6% to near 7%, affordability matters. A future refinance could help if rates cycle lower after purchase.
Adjustable-rate mortgages may also fit some current higher-rate environments, because payments can benefit when rates cycle lower under the right loan structure.
Prequalification is an educational first step, showing buying power, estimated payments, and loan options without creating a commitment to purchase right away.
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