When you rent, your monthly payments go to the landlord—helping them build wealth, not you.
When you own a home, each mortgage payment builds your equity—the portion of the home you actually own. Over time, your equity grows as you pay down the loan and as your property value appreciates. It’s a form of forced savings that can help you build long-term wealth.
1. Build Equity Instead of Paying Rent
One of the biggest benefits of this strategy is financing. Lenders offer more favorable terms for owner-occupied homes:
- Lower down payments (as little as 3% with conventional or 3.5% with FHA)
- Lower interest rates
- Easier qualification standards
💡 Important: Most lenders require you to live in the home for at least 12 months to fulfill your primary residence occupancy requirement. You’ll usually sign a document at closing agreeing to this.
2. Stable Monthly Payments
Rent can increase every year—or even mid-lease. Homeownership, especially with a fixed-rate mortgage, gives you predictable monthly payments on principal and interest. While property taxes and insurance may change, you control your mortgage payments, helping you budget better.
3. Tax Advantages
Homeowners may qualify for tax deductions on mortgage interest and property taxes, reducing their overall tax burden. These benefits can make owning a home more affordable than it looks on paper.
4. Creative Control and Personalization
Renters often face strict rules about decorating, remodeling, or even having pets. As a homeowner, you have the freedom to:
- Paint walls any color
- Renovate kitchens or bathrooms
- Landscape your yard
- Make the home truly yours
This personalization makes your house a home.
5. Greater Stability and Community Connection
Owning a home usually means staying in one place longer, which helps you:
- Build stronger community ties
- Get involved in local schools, neighborhood groups, and events
- Enjoy a stable environment for your family
6. Potential for Passive Income
If you buy a multi-unit property or have extra space, you can rent out part of your home and generate income—something renters can’t do.
First-time homebuyers can qualify for a mortgage with as little as 3% down* and HomePerk can help you cover the downpayment or closing costs.
7. Protection from Inflation
As rents rise with inflation, your fixed mortgage payment remains the same, protecting your housing costs against inflation over time.
8. Pride of Ownership
There’s something special about owning your own home. It’s a place to build memories, grow roots, and create a space that reflects who you are.
How Homeperk Helps You Own, Not Rent
We understand that buying a home can feel overwhelming—especially if you’re worried about credit, down payments, or qualifying for a mortgage.
That’s why Homeperk offers free assistance to help you:
- Improve your credit score
- Access down payment and closing cost assistance
- Connect with lenders who understand your needs
- Learn everything you need to become a confident homeowner
🏡 Final Thoughts: Renting Is Temporary, Homeownership Is Building Your Future
Renting has its place, but if you’re ready to stop paying someone else’s mortgage and start investing in your own future, homeownership is a powerful step forward.
Ready to explore what it takes to buy your first home? Contact Homeperk today—your path from renter to homeowner starts here.
*Down payment assistance offered pursuant to your employer’s down payment assistance benefit plan and is accomplished through an unsecured down payment assistance loan. The down payment assistance loans may be provided by CharlieMike Financial, Inc. or other partner banks or credit unions. Certain restrictions apply. Subject to borrower qualification and subject to obtaining a mortgage from an eligible mortgage partner.
$0 down is based on obtaining a mortgage for 97% of the purchase price of your home from an eligible mortgage partner and funding the other 3% of the purchase price with a down payment assistance loan. The down payment assistance loan has a term of 60 months and the borrower experiences an interest rate of 0% (actual note rate 12%), assuming all principal payments are made when due by the borrower, as the result of the rate being permanently bought down. Buydown funds may not be redeemed for cash or credit and are nontransferable. The monthly payment on a $10,000 loan at 0% interest for a 60-month term is $166.67. Subject to certain conditions.