SANDY FLORES BROKER
International Real Estate
Contributor @TELEVISAUNIVISION KMEX 34 Los Angeles, El Gordo y La Flaca,
Santa Ana College
International Real Estate
Contributor @TELEVISAUNIVISION
KMEX 34 Los Angeles, El Gordo y La Flaca,
Santa Ana College Community Services Program
Two major banks have agreed to originate a new 15-year mortgage under pilot programs aimed at low- and moderate-income borrowers.
In addition, the creators of the so-called Wealth Building Home Loan, allows home buyers to build equity at a much faster clip than they would with a standard 30-year loan. Typically, the monthly payment on a 15-year loan is higher than that on a 30-year loan. But the loan amortizes much more quickly, meaning you build wealth — or equity — faster.
According to the latest Federal Reserve Survey of Consumer Finances, an owner’s net worth is 36 times greater than that of a renter. The survey found that the average owner’s net worth is $194,500, whereas a renter’s is $5,400.
Sandra M. Flores CA. DRE Lic. # 01122114 – NMLS Lic. #324482
Broker Officer at J.C. & S.M. INC. DBA. Real Estate On Demand & Home Loans On Demand Licensed by the
California Department of Real Estate Lic. # 01520569 NMLS # 235895
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