Meet your Lender: Doug Anderson
Doug is an Appalachian State University graduate. He enjoys fitness, traveling with his flight attendant wife, hanging out with friends, and was voted dad of the year by his 2 daughters. Doug has nearly 2 decades of mortgage lending experience.
Good news on owning a home- Ownership builds Wealth and often is less expensive then renting.
The Federal Reserve’s Survey of Consumer Finances has consistently found a huge gap between the wealth piled up by homeowners and that accumulated by renters. Average net worth of homeowners vs. renters at various annual income levels:
Income: $80,000 and up Owners’ average net worth: $451,200 Renters’ average net worth: $87,400
Income: $50,000 to $79,999 Owners’ average net worth: $194,610
Renters’ average net worth: $25,000
Income: $30,000 to $49,999 Owners’ average net worth: $126,500 Renters’ average net worth: $10,600