Despite the present inflationary economic state that the country is wrestling with today, most Americans agree that Real Estate shines as the most secure place to protect your wealth.
Inflation has reached its highest level in 40 years. We have all painfully experienced the increases in goods, services, housing costs, and more. The only one of these items that can have a locked-in price is housing because your monthly payment is shielded from escalation. James Royal, Senior Wealth Management Reporter at Bankrate, explained it like this:
“A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise, and other expenses may creep up, but your monthly housing payment remains the same.”
Home ownership eliminates the dread that today’s renters are suffering because of huge jumps in rents. Various cities in the country have seen increases as much as 50%!
As a homeowner, you have seen the record-breaking increases in appreciation just over the past couple of years. As prices rise, so does the value of your home, making buying a home a great hedge during periods of inflation.
In short, when you lock in a mortgage payment, you shield your housing cost from increases, and you own an asset that typically gains value with time.
If you have found it impossible to obtain a conventional mortgage, give Sun Pacific Mortgage a call at 707-523-2099 or visit www.sunpacificmortgage.com. We have been serving Borrowers in California for over 34 years. Whether it is your own home, an investment property, or land, we offer firsts, seconds, bridges, and refinances. And on top of that, we’re really fast (sometimes we get a loan completed in as little as 1 week)!