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Homebuying, Selling & Relocating
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Homeownership is Proven to Build Wealth & Premia Mortgage Can Help!
In September 2020, the Federal Reserve published the results of a three-year study on consumer finance which indicated that homeownership continues to be a factor in building wealth at all income levels.
The report showed:
The median homeowner has a household wealth of $254,900 compared to $6,270 for renters. That is a difference of 40 times!
Homeowners are wealthier than renters at every income level. For homeowners at the lowest income level, the value of their home made up 92% of their net worth.
Between 2016 and 2019, housing wealth was the single biggest contributor to the increase in net worth across all income groups. For lower income households, homeownership made the largest impact by increasing wealth by $21,000 – more than all other asset types combined.
If you are considering homeownership but feel limited by your current financial situation or mortgage understanding, you may be surprised! Here is why:
Low and no down payment options are available.
Credit challenges may be overcome with flexible credit scores and debt-to-income ratios.
Products and programs exist to keep money in your pocket. We will provide options.
Our knowledgeable team and
technology make the process easy.
June is Homeownership Month, so be a part of the celebration! Our team can help you determine your purchasing power.
Call 866-590-2951, press "3" to speak to someone immediately.
“Changes in U.S. Family Finances from 2016 to 2019: Evidence from the Survey of Consumer Finances.” Federal Reserve Bulletin, Board of Governors of the Federal Reserve System, Sept. 2020, www.federalreserve.gov/publications/files/scf20.pdf.
- Apr 15, 2021
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