Stearns Home Loans Celebrates Homeownership Month

You can do more than observe National Homeownership Month during June … you can celebrate! Here are some reasons why now can be a great time to buy, whether you’re a first-time buyer or already a homeowner.

Make 2019 a year to remember

A booming economy in 2017 and 2018 contributed to higher home prices and lower inventory in many areas, plus rising interest rates. This meant that many potential buyers decided to wait things out until the real estate and financial markets settled down.

If you’re one of those who’ve been waiting for a better time to buy, here’s some good news. Not only have home prices stabilized in many areas, interest rates have actually dropped as well.
More good news for homeowners

According to a Federal Reserve survey[1], an American homeowner’s net worth in 2016 was 44 times greater than that of a renter ($231,400 vs. $5,200). Interestingly, since the previous 2013 survey was published, a homeowner’s net worth increased by 15% … but a renter’s net worth actually decreased by 5%.
Now for the not-so-good news … and how we can help

Although 2019 brought good news for homebuyers, the news wasn’t good for many renters. In addition to their net worth decreasing, rent costs continued to rise. Some cities have been harder-hit than others – for example, Los Angeles, California tenants have seen rents rise over 14% for a two-bedroom apartment since March 2018 while renters in Plano, Texas faced price hikes up to 25.3%[2].

If you’re tired of watching more of your take-home pay going towards rent, why not check into your home financing options right now? Stearns currently offers numerous loan programs with low- or zero-down payment options for qualified applicants. Check out our blog article Don’t Fear the Down Payment to learn more.

8,260 individuals and families bought homes in 2018 with financing provided by Stearns[3]

Stearns has a branch near where you want to buy
Stearns Lending, LLC is licensed in 49 U.S. states (excluding New York), including District of Columbia, with over 90 branches across Alaska, Arizona, California, Georgia, Hawaii, Iowa, Idaho, Illinois, Minnesota, Missouri, North Carolina, New Hampshire, New Jersey, New Mexica, Nevada, Oregon, Pennsylvania, South Carolina, Texas, Utah, Virginia, Washington and Wisconsin. Contact a mortgage loan originator in your state to get started!
Ready to become a homeowner? What are you waiting for?

There’s currently more homes for sale than in in the previous two years[4]. Combined with our growing inventory of loans, we’re bound to have one that may help you qualify for financing your dream home.

Find out more about your homeownership options in minutes! Contact a Stearns Mortgage Loan Originator today and we’ll help you take the first step to buying your new home. Since our founding in 1989, we’ve helped over 909,250 individuals and families finance their homes. We’d like your home to be next.

- Jun 03, 2019