Do you Pay Rent? Buying Versus Renting

One thing I have come to realize looking back, single young woman in 2006 was the beauty of saying it’s all mine. So one morning I asked myself why pay someone else’s mortgage when I can pay my own mortgage and considered buying versus renting a home. Most people do not realize it’s the same exert process, paying for someone’s equity or building one for yourself. If you can afford to pay rent, you can own a home. Not just owning the home, it saves you a lot of money on the taxes you have been giving the Landlord for years. Don’t let anyone tell you cannot do it, I beg to disagree. Call or text me, I will help get you prepared for home ownership. Do you need a lot of money to buy a home? No. FHA only requires a 3.5% down payment where in many cases renters need to come up with security deposit, first month’s rent and last month’s rent to move into a rental and this can be equivalent to a down payment on a home purchase.

I Have Considered Buying Versus Renting But I Have Bad Credit

Most people will use the credit excuse as a reason why they cannot buy. Having bad credit is like having a bad hangover. Even if you do nothing to improve your credit, your credit scores will naturally go up as the derogatory credit items ages and as it ages, the bad derogatory credit items will have little or no impact on your credit scores. After 7 years from the date of last activity, derogatory credit items will fall off from your credit report. Bankruptcies will remain on your credit report for 10 years.  However, there are simple tricks of expediting boosting your credit scores. Credit scores will instantly be boosted by paying down debt and for those with no trade lines, open up some.  Paying down maxed out credit cards can easily boost your credit scores by 50 plus FICO points. If you have no active credit tradelines, just opening up one secured credit card will easily boost your credit scores by 20 or more poings.  However, don’t get carried away and incur more debt before you buy the home, as that is some of the reasons people end up in foreclosure.

No Money For Down Payment And Closing Costs

FHA financing which is the most popular out there amongst first time buyers and home buyers with prior bad credit and higher debt to income ratios, requires just a 3.5% down payment. Start saving on time, skip some night outs, some shopping trip and put that money away. With a great  experienced real estate agent by your side, you can always get the seller to pay closing cost through a sellers concession.  FHA allows gift funds to be used for down payment on a home purchase. Mom, dad, grandma, grandpa can gift you 100% of the down payment. If by chance you live in a rural community, or one you will love to move to, (not country; country lol) find out from an agent what constitutes a rural community and it will surprise you. USDA Loans are zero $$$$ down, same goes for VA. Don’t let anything stop you, and don’t be your own enemy.

A Little About Bennie Chukwurah

Bennie Chukwurah is a veteran licensed realtor in the state of Texas and a licensed mortgage loan originator. Bennie Chukwurah believes a knowledgeable realtor in all aspects of real estate is a must to best represent home buyers and home sellers. Since financing plays a major role in representing home buyers and home sellers, Bennie Chukwurah decided to go to mortgage loan officer school to get her mortgage loan origination certification so she can sit for the federal mortgage NMLS examination.  Despite her busy schedule, Bennie Chukwurah was determined to study and pass the difficult federal NMLS mortgage exam and passed it on her first try. Bennie Chukwurah was hired by The Money Store, a full service mortgage banker known for its no mortgage lender overlays, and is not just a mortgage loan originator but also a team leader and training director due to her positive attitude and her leadership abilities. Bennie Chukwurah is a natural leader, not just in real estate and mortgages, but in general.  Colleagues and business associates of Bennie Chukwurah naturally gravitate towards her.  All of Bennie Chukwurah’s clients become her lifelong friend.

Bennie Chukwurah NMLS 1412937

Home Ownership And Mortgage Expert


Century 21 Olympian

3424 FM 1092, Suite 250

Missouri City. TX 77459


The information contained on Gustan Cho Associates website is for informational purposes only and is not an advertisement for products offered by The Gustan Cho Team @ Gustan Cho Associates or its affiliates. The views and opinions expressed herein are those of the author and/or guest writers of Gustan Cho Associates Mortgage & Real Estate Information Resource Center website and do not reflect the policy of Gustan Cho Associates Lenders Network, its officers, subsidiaries, parent, or affiliates.


  1. Homebuyer15 says:

    On my way to being a home owner, thanks to real estate savy Bennie! She offers priceless advice and literally holds your hand throughout the process. She demystifies the home buying experience and makes it seem super easy. Highly recommended!

    • Gustan Cho says:

      Bennie Chukwurah is not just a top producing Texas licensed real estate agent but a true friend, advisor, and Angel to all of her contacts. Bennie Chukwurah is someone who will go beyond her call of duty to help anyone in needs. Bennie Chukwurah is always studying and researching in areas of real estate and mortgage lending because she feels that knowledge is king and since all of her clients depend on her, she needs to be an expert in all areas of real estate which includes mortgage lending. Bennie Chukwurah has passed the rigorous NMLS federal examination and is now a federally licensed mortgage loan officer and team leader with The Money Store and Gustan Cho Associates on the non-conforming and commercial lending side. Bennie Chukwurah is respected by every real estate, mortgage, legal, title, and insurance professional nationwide. The Money Store is licensed in most of the 50 states and is known for not having any mortgage lending overlays.

  2. Hannibal Young says:

    Hello, Mr Cho, this is Katrina Smith’ s husband, we are working aggressively with Kay and Su who have been extremely helpful and responsive throughout the process. Our loan is being reviewed by the underwriter who is concerned with our collections. keep your fingers cross!