reasons to own a home: One of the Top Reasons to Own a Home
- 09/19/19 12:08 PM
One of the Top Reasons to Own a Home
One of the benefits of homeownership is that it is a “forced savings plan.” Here’s how it works: You make a mortgage payment each month. Part of that payment is applied to the principal balance of your mortgage. Each month you owe less on the home. The difference between the value of the home and what you owe is called equity.
If your home has appreciated since the time you purchased it, that increase in value also raises your equity. Over time, the equity in your home could be substantial. Recently, CoreLogic revealed that the average homeowner gained … (3 comments)
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One of the Top Reasons to Own a Home
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