Buying a home is a long-term investment. Although the market’s gone up and down over the decades, U.S. home prices appreciated at an annual growth rate of 4.8 percent. Even at a mere 3 percent, the home that costs $150,000 today will be worth $364,000 in 30 years.
It dramatically raises your net worth. A recent comparison of homeowners vs. renters by the Federal Reserve Board of Consumer Finance put the average net worth of homeowners at $184,000 compared to just $4,000 for renters.
Remember that as a direct lender, we have access to a wide array of loan programs. All of our underwriting and processing is done in-house, which means you’ll experience a quick and efficient process with the best available terms.
If you ever need more information or help comparing loan products, don’t hesitate to contact me.