The American Dream
A Home Is Where Your Story Begins.
A home not only means security for you and your family, but also a place to call your ‘own’. No longer will you be subject to the whims of a landlord. A home invites you to be part of a community in which you and your family will develop relationships that will often last a lifetime. A home also provides stability for you and your family; according to studies, the children of homeowners tend to excel in their development when compared to the children of renters*. And when compared to renting, communities comprised of homeowners tend to be better maintained and safer.
Purchasing a home is often the most important investment decision someone makes in a lifetime. Most people understand that owning a home is a great tax shelter. But not all people understand how great these benefits can be.
Larger assets will grow more quickly than smaller assets such as mutual funds, even when the rate of appreciation is the same. In addition, because part of your mortgage payment goes to pay down what you owe each month, the effects of leverage are enhanced.
If you're careful when it comes to buying and owning a home, future financial security can be notable. By making your home's mortgage payments on time, you steadily build equity over the long term. The equity you'll have in your home will be the cash value you'll be able to pull from that home. Your home may also appreciate in value over time, giving you even more equity.
When your landlord raises your rent by 5%, the entire payment goes up by 5%. A fixed rate mortgage payment does not change, except for a small portion of the payment – the real estate taxes and insurance. This means that the mortgage payment goes up much slower than rent and thus provides protection against inflation.
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The Ultimate Rate
Protection + Flexibility
RateFlex gives you the protection of a rate lock commitment. If rates go down before you close, you get the lower rate.