• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Pacific Funding Group

Your Professional Mortgage Resource

Talk to a loan expert today.
Call (888) 663-9350
better business bureau A rating

Top 100 Mortgage Lender Badge

Follow Us On Facebook

  • Home
  • About
    • PFG Careers
  • Loan Programs
  • Apply Now
  • Divisions
    • Builder Division – New Home Financing
    • CU Lending Division
  • PFG Blog
  • Contact
  • Do Not Sell My Information

Why Homeownership Matters Now More Than Ever

February 13, 2019 By Pacific Funding Group

Why Homeownership Matters Now More Than Ever | Simplifying The Market

Study after study shows that no matter what generation Americans belong to, the vast majority believe that homeownership is an important part of their American Dream. The benefits of homeownership can be broken into two main categories: financial and non-financial (often referred to as emotional or social reasons.)

For Americans approaching retirement age, one of the greatest benefits to homeownership is the added net worth they have been able to achieve simply by paying their mortgage!

The Joint Center for Housing Studies at Harvard University focused on homeowners and renters over the age of 65. Their study revealed that the difference in net worth between homeowners and renters at this age group was actually 47.5 times greater, with nearly half their net worth coming from home equity!

Why Homeownership Matters Now More Than Ever | Simplifying The Market

Homeowners over the age of 65 are much more financially prepared for retirement and often own their homes outright if they were fortunate enough to purchase their homes before the age of 36.

Their 30 years of mortgage payments have paid off as they gained equity through their monthly payments and as home values appreciated.

It is no surprise that lifelong renters have had a hard time accruing net worth as the latest Census report shows that the Median Asking Rent has been climbing consistently over the last 30 years.

Why Homeownership Matters Now More Than Ever | Simplifying The Market

Bottom Line

Your monthly mortgage payment is a form of ‘forced savings’ building your net worth with every payment!

Filed Under: PFG Blog

Primary Sidebar

Prequalify for A Loan Today!

Complete this form and get prequalified for a loan in 2 minutes!

  • By clicking the "Get My Free Quote!" button, I acknowledge that I agree to receive a phone call from 1 Loan Specialist at Pacific Funding Group at the number provided. Consent is not a condition in order to qualify for a loan. Your information will never be shared with any third party. Ever. 128 bit Encryption.

Footer

Walnut Creek

1261 Locust St #2424
Walnut Creek, Ca. 94596

Walnut Creek

325 N. Wiget Lane STE 130
Walnut Creek, Ca. 94598

Antioch

5123 Lone Tree Way
Antioch, Ca. 94531

Loan Programs

  • Home Mortgage Loans
  • Loans For Our Heroes
  • FHA Loans
  • Home Loans
  • Reverse Mortgage Loan

Home | About | Calculators | Loan Programs | Mortgage FAQs | Fair Lending Statement | Apply Now | Loan Lock Form

Copyright © 2023 · All Rights Reserved · Privacy Policy · Pacific Funding Group · Site by Clifton Creative Web

Equal Housing Opportunity Lender. Not a commitment to lend. Rates and programs are subject to change. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. AGV Grouppe, Inc. dba CU Lending; Pacific Funding Group | 1261 LOCUST ST #2424 WALNUT CREEK, CA 94598 | DRE License ID: 01796227 | NMLS ID:2258009

equal housing opportunity logo