From tax benefits and financial stability to a simple sense of pride, homeownership is still the American Dream.
There are numerous financial benefits that come with buying a home. From building wealth through the home’s appreciation and loan reduction, to the valuable tax benefits, to the ability to tap into equity for college, home repair or emergency issues. Renting a home provides no possibility of profit or any tax benefits to the renters, and any home repairs or improvements only benefit the landlord.
In addition to the straight-forward financial benefits of homeownership, there are several quality-of-life benefits as well. Homeowners tend to have more of a sense of community and involvement in their neighborhood. Also, homeowners do not have the same restrictions as renters when it comes to pets or ability to personalize one’s home.
Renters are seeing a rise in rental rates. In 2017, San Diego County rental rates hit a record high, increasing 7.59 percent. As a result, many renters are making the jump to homeownership as prices are often not much more than renting.
Qualifying for a home has become easier, as there are more loan products available to lenders to attract a wider and more diverse buyer population.
To find out how you can make the jump into homeownership, contact San Diego Funding at 619-260-1660. Our experienced loan officers have in-depth product knowledge to evaluate every individual situation and provide the best advice and products.
For more than 30 years, San Diego Funding has been helping buyers achieve their dreams of homeownership by closing thousands of loans throughout the county. As a direct lender, we underwrite, approve, draw docs, and fund loans, all in-house. We are also partnered with numerous portfolio jumbo lenders to deliver the very best jumbo financing in the industry.