The executives of our Police Mortgage, as well as those of our parent company – National Police FCU, have a philosophy about business and even life in many cases. That philosophy is “Don’t wait!”
It applies to many situations. Maybe you apply it to your love life. Maybe you are thinking of proposing to the love of your life but you can’t afford the ring. Don’t wait, just do it and figure it out as you go along if it truly feels right.
Maybe you have an opportunity to make a change in your career that makes sense. Don’t wait. Take the leap.
When it comes to getting preapproved for a law enforcement house loan and thinking seriously about home ownership, don’t wait. The older you get, the longer you wait, the harder it’s going to be.
The “don’t wait” philosophy isn’t impulsive. You also need to be clear about your goals. Is your goal stability? Is your goal to save the money necessary for a down payment?
Or does renting become a vicious circle that you can’t get out of because of all of your expenses? You can’t do it until you start doing it.
The “don’t wait” theory applies because the best time to buy a home is probably right now. Maybe what needs to happen is a movement towards that goal today.
A person in their mid 50’s may be in a tougher situation than someone in their late 20’s or early 30’s, theoretically. Fortunately, we do have 3% down options. So, let’s say you are looking at $200,000 property. That’s a $6,000 down payment. We may have a police home loan that works for you in that scenario.
Regardless of age, if you are renting you have to make a decision as to what your objectives are. It really comes down to the sacrifices you are willing to make up front. Call it what it is in that you may have to defer some happiness to a little bit later in life. I see this with very educated people. I think the more educated you are, sometimes the worse your perception is or what your expectations are of a situation may be.
Police officers and first responders seem to have a more practical view of things. They tend to realize that nothing is guaranteed in life. Even if you are a bit older and want to buy a house, a 3% minimum down payment, in my opinion, is not much to ask for.
As a fiduciary, Police Mortgage is going to present you with all of the options available. If you are renting, maybe for quite some time, we will present the hard truths that coincide with a “don’t wait” philosophy. There will likely be viable options but the person we are advising will have to be willing to hear them and be willing to take action.
Police Mortgage specializes in conventional mortgages, purchase money transactions, FHA loans, and VA loans. Led by founder and CEO John Aretos, Police Mortgage is known and respected for providing clients with exceptional service, customized terms, quick and easy closings, and low money down options. To learn more about Police Mortgage, call 312-499-8878.
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