Here at People’s Choice Mortgage, us team members do what we do because we believe in the power of homeownership. It might seem cliche, but it is true that owning a home is a core component of the American Dream. Sadly, there are many people in this nation that do not think they will ever have access to that dream. They truly believe that owning a home is only for the wealthy and that they will have to rent for their lives. One of our missions is to fight for our clients and help them come up with a plan to own a home of their own. This is a powerful mission because the benefits of being a homeowner are powerful. Owning a home provides material and immaterial benefits that are truly life changing. That is why we believe that everyone deserves to own a home.

The Material Benefits of Homeownership

Many people think that they will never be able to own a home because they think it is only for the wealthy. However, just because wealthy people own homes does not mean that it requires wealth to buy a home. Rather, this is indicative of the fact that owning a home helps you build wealth. 

Home prices are expected to continue appreciating. A recent Home Price Expectation Survey showed just how fruitful it can be to own a home. When looking at the data, we see the potential wealth from buying a home. If a home was $350,00 in 2021, a homeowner could increase their net worth by over $82,000 in 5 years. Fannie Mae also reported that homes are a safe, high potential investment to make. Materially, every payment you make on your home increases your net worth and gives you property value. The potential growth for years to come makes home owning one of the best options that you can take to accrue wealth. 

The Immaterial Benefits of Homeownership

While the financial benefits of owning a home are significant and important, a house is more than an investment. Owning a house is also about having a place that you can call your own. It is about having a place where you can build lifelong memories with those you love. It is about security. It is about purpose. It is about so much more than mere dollars and cents. 

Your American Dream can be pivotal to the overall life that you live. Unison did a report on the state of the American homeowner in 2021. They reported that 91% of people felt more secure and stable and 70% of people felt attached to their home. The survey also found that 51% of people thought their home was a key part of their life. Owning a home alongside other homeowners fostered a sense of belonging and safety. These are core values that are not necessarily tangible, but are still important to experience. Purchasing a home is more than just gathering wealth, it’s establishing stability and community. 

Final Thoughts

The material and immaterial benefits of homeownership are so substantial that nobody should be denied the opportunity to own a home. Everyone deserves access to the American Dream. This is why we do what we do at People’s Choice Mortgage. Our mission is to help everyone have access to this dream. This is at the core of our values as an organization. It shapes who we work with, as well as how we work with them. 

We understand that not everyone is in a financial position where they are able to qualify for a mortgage today. However, we also understand that with proper planning everyone can put themselves into a position to buy a house in the future. Sometimes that means taking steps to enhance your credit so that you can meet lender requirements for a mortgage. At other times it means making a plan to save for a down payment. We love nothing more than helping our clients with that process and then seeing it all pay off when they get to close on a house of their own.

Many mortgage brokers are solely concerned with closing mortgages. When they meet with a potential client, they either qualify for a mortgage or they don’t. If they do not qualify, then their relationship is done until they come back at a future point and are able to qualify. That is not how we operate at People’s Choice Mortgage. Even if you cannot qualify for a mortgage today, you are still our client. We will help you in any way that we can to help you qualify in the future. We truly believe that everyone deserves to own a home. We will invest our time and resources into having that apply to you. 

So, if you have ever wanted to own a home, but do not know where to begin, contact us! We can give you a complimentary mortgage qualifier to let you know exactly where you stand in the home buying process. If you are not in a position to qualify for a mortgage today, that is okay. Together we can come up with a plan to give you a chance at the dream of homeownership in the future.