Owning a home matters. It can change lives and enhance futures. That’s what the National Association of Realtors wants us to know, and why they’ve designated June as National Homeownership Month.
Becoming a homeowner is the classic American dream and a timeless value. Responsible home ownership has been cited as the key to building wealth and a strong middle class. It encourages families to get involved in their communities and provides opportunities to fulfill creative impulses as homeowners design, remodel or build the home of their dreams.
The National Association of Realtors says the benefits of home ownership make a positive impact on every member of the household.
Their studies show owning a home can benefit families with:
- Higher student test scores
- Higher rate of high school graduation
- Children more likely to participate in organized activities
- Children tend to spend less time watching television
- Better health outcomes including better physical and psychological health
- Lower teen pregnancy rates.
Owning your own home builds wealth over the long run and is more cost effective than renting. The most recent Federal Reserve Survey of Consumer Finances shows that in the past 15 years, the net worth of the typical homeowner has ranged between 31 and 46 times higher than that of the typical renter.
Now is a great time to buy your first home. If you’re thinking about buying or selling soon, contact your Resource Financial Services mortgage banker to discuss your home loan options. They can help you with a wide variety of loan programs tailored to meet your financial needs and get you into the home you want faster – with quicker closings, same-day pre-approval, five-day processing and guaranteed lower rates.
Call toll-free at 877.797.4545 to speak with a mortgage banker or visit Resource Financial Services online at rfsmortgage.com to learn more.