MORTGAGE TIP OF THE WEEK

The Mortgage Tip of the Week is brought to you by

Northern Credit Union

Mortgages are a significant financial commitment and understanding various aspects of the mortgage process can help buyers make informed decisions! The Mortgage Tip of The Week is concise, informative, and provides new tips or insights each week into different aspects of mortgages leading to better financial choices!

This Mortgage Tip is brought to you by the Jefferson Lewis Board of REALTORS® and Northern Credit Union. As we celebrate America’s 248th birthday this week, the dream of homeownership is alive and well with 65.6% of Americans owning a home. Why is owning a home important? Hi, I am Lance Evans from the Jefferson-Lewis Board of  REALTORS®. Owning a home builds wealth. In a Federal Reserve comparison of median net worth, renters’ wealth increased $3,100
from 2019 to 2022 to $10,400 while homeowners’ wealth increased over $100,000 to $396,200. Earlier this month, Bankrate.com noted five ways to stay protected against inflation. One was to own a house. They noted that a fixed rate mortgage keeps your monthly housing payment the same which is not true of renting. Owning also gives you more freedom to decorate, have pets, and have privacy. Talk to a REALTOR® about how you can Dream It, Live It, Own It in Northern New York. This Mortgage Tip is brought to you by Northern Credit Union. If you are building, buying, or refinancing, we offer meet or beat rates, guaranteed!