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Here’s what consumers hear: renting is cheaper than mortgage payments in 50 of the largest metros. Here’s what you need to know: everyone who lives indoors pays a mortgage. The question is whether you’re paying yours or your landlord’s. First American’s data: If you bought in 2006 and stayed, homeownership put $181,000 in your pocket. Renting costs $268,000.
The equity gains available to homeowners right now are exceptional.
The biggest misconception? Most Americans think it takes 20% down to buy. It doesn’t. Having the right mortgage professional who knows actual products available—not just conventional wisdom—makes all the difference.
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