More
than two-thirds of Americans own their home today. And the number keeps growing.
There are a lot of powerful reasons for owning a home:
Building Equity. Over time homeowners build equity in their
homes, many people use this equity to help plan and pay for a child's
college education or retirement.
Tax Advantages. Because homeowners are allowed to deduct mortgage
interest and property taxes from their federal income tax (and some
state's income tax) they may be able to lower their taxes.
Payment Stability. With a fixed-rate mortgage homeowners will
know what their mortgage payment will be next month, next year and
five years from now.
But most importantly, owning a home is being a part of the American dream.
For more information about the homeownership process, from understanding
credit and the mortgage process to home inspection, use our online guide,
Buying
and Owning a Home.
