June is the best month of the year – It’s National Homeownership Month! As a local lender, we’re dedicated to helping people achieve sustainable homeownership and their American Dream. We believe in the power of owning a home, and we’re thrilled to celebrate the countless benefits it brings to individuals, families, and communities this month – and every single day of the year!
The Importance of Homeownership
Homeownership is more than just having a roof over your head – it’s a dream, it’s stability and control of your environment, and it’s a powerful tool for building wealth. Beyond the personal benefits, research shows that stable housing plays a crucial role in children’s well-being, strengthens communities, and contributes to a thriving economy.
We love telling the stories of happy homeowners, especially the ones that capture the joy and fulfillment that comes with ownership after overcoming challenges and hurdles. These new homeowners are the reason everyone at the NFM Family of Lenders is passionate about getting people and families into the homes they love.
The History of National Homeownership Month
To get a glimpse into why we celebrate Homeownership Month nationally, here’s a timeline of homeownership and this special month in the United States. These events have paved the way for more Americans to achieve the dream of homeownership:
Homeownership Rates in the US: A Reason to Celebrate
Homeownership rates in the US have steadily climbed over the years, offering a reason to celebrate progress. In 1900, the homeownership rate stood at 46.5%. By 2000, it had risen to 66.2%, and it continues to hover near that mark today. National Homeownership Month allows us to reflect on these gains and express gratitude for the increased accessibility of homeownership.
Here’s an interactive data visualization that lets you explore homeownership and renter-occupied housing rates by state.
Homeownership Rates Across Minorities
Single women can celebrate having the highest rate of first-time homeownership (19%) behind married couples (59%), and overtaking single men (10%). Especially since women in the U.S. were not allowed to finance the purchase of real estate without a husband or male cosigner until the 1970s.
However, despite overall growth in minority homeownership, racial and ethnic disparities persist. According to the Census Bureau, the homeownership rate for non-Hispanic White Americans sits at 73.8% (4th quarter 2023), compared to 63% for Asian Americans, 49.8% for Hispanic Americans, and 45.9% for Black Americans. We still have work to do in ensuring equal access to homeownership for all.
Net Worth and Homeownership: Wealth Building at Home
Owning a home is a powerful tool for building wealth, particularly for low and middle-income families. Statistics show a significant gap in net worth between homeowners and renters. In 2022, the Federal Reserve reported a median net worth of $396,200 for homeowners, compared to just $10,400 for renters. This means the average homeowner has nearly 40 times the net worth of a renter. (see graph below):
Here’s what Economist at First American Title, Ksenia Potapov, has to say about the wealth gap between renters and homeowners:
“Renters don’t capture the wealth generated by house price appreciation, nor do they benefit from the equity gains generated by monthly mortgage payments . . .”
So, what’s the secret behind the #1 wealth builder for low- and middle-income Americans? Here are some key factors:
Forced Savings: Your monthly mortgage payment acts like a form of forced savings. Unlike rent payments that vanish each month to build a landlord’s equity, mortgage payments contribute to your long-term wealth accumulation.
Equity Accumulation: When you own a home, you build equity as the value increases (appreciates) and through regular monthly mortgage payments. This equity becomes yours when you sell, providing a historically significant financial return.
Home Value – Loan Amount = Equity
Equity: the cornerstone of wealth building
Housing equity is the largest component of net worth for most owner-occupied households. Owning a home, even at a more affordable price point, can significantly contribute to your overall financial well-being through appreciation. This is especially evident for Black and Hispanic homeowners and those with lower-to-mid range incomes.
Benefits of Homeownership: More Than Just Financial Gain
Owning a home offers a variety of advantages that go far beyond just financial rewards. In fact, the impact on your physical, mental, and financial well-being can be life-changing. A 2013 study by two professors at the University of North Carolina at Chapel Hill documents a range of social benefits associated with homeownership.
Building Strong Families and Communities: The sense of satisfaction, stability, quality, freedom, and control that comes with homeownership extends to other important aspects of life, such as education, employment, healthcare, and retirement savings. Homeownership can also positively impact families and children.
Investing in Your Neighborhood: Studies suggest that homeownership can contribute to a stronger economy and a more vibrant community. Homeowners are more likely to be invested in their neighborhoods, which can lead to increased property values and a thriving local economy. They’re also more likely to participate in local activities and take pride in their surroundings, fostering a stronger sense of belonging and connection with neighbors.
Working Towards an Inclusive Housing Market
National Homeownership Month is a time to celebrate progress, but we acknowledge that significant barriers still prevent many Americans from achieving the dream of homeownership. Here at NFM Lending, we are committed to addressing these challenges head-on.
Recognizing that racial and social inequities, limited financial literacy, and systemic issues have historically disadvantaged certain communities in homeownership, we believe that advocacy and tailored financial solutions are key to closing these gaps. By providing access to funding for home construction and ownership, we can promote inclusive growth in the housing market.
We’re strong believers in creating a housing market that’s open to everyone. That’s why NFM offers special programs and resources to empower first-time homebuyers, low and moderate-income families, and communities of color. These initiatives aim to make homeownership a reality for everyone. And we want everyone to experience the joy and stability that comes with owning a home! You can learn more about our equity, and inclusion initiatives on our website.
Celebrating Homeownership and Looking Ahead
National Homeownership Month is a time to celebrate the power of owning a home and the positive impact it has on individuals, families, and communities. We’ve come a long way in increasing accessibility and equity in h, but there’s still work to be done. Here at NFM Lending, we’re committed to helping more people achieve their homeownership goals and build generational wealth in the process.
If you don’t know where to start, give us a call! We’re here for you before, during, and throughout your entire homeownership journey.
NFM Lending announced today they will make a $60,000 donation to St. Jude Children’s Research Hospital as part of its new “Chipping Away at Childhood Cancer” program, an initiative with PGA Golfer Tom Lewis. NFM, who is a corporate sponsor of Lewis, committed $2,500 to St. Jude for every birdie Mr. Lewis made in the World Golf Championships-FedEx St. Jude Invitational held July 30 – August 2, 2020 at TPC Southwind in Memphis, TN. Lewis made 24 birdies, the most of any golfer in the tournament, on his way to a 2nd place finish.
NFM Lending’s CEO, David Silverman, has been a big supporter of St. Jude and its mission for many years. “St. Jude has been a charitable focus for me since 2012,” said Silverman. “Their transparency on how donations are used to treat and cure children with cancer is unparalleled. I had the opportunity to tour St. Jude and it is inspiring and humbling. NFM is grateful to support this worthy cause.”
Mr. Silverman announced that the donation to St. Jude is just the beginning of a new level of support and partnership NFM will have with St. Jude. The “Chipping Away at Childhood Cancer” program will follow Lewis on the PGA Tour, and NFM will continue to donate money for every birdie and eagle he makes throughout the year. If he wins any of the PGA events, NFM Lending will make an additional donation of $100,000.
The new program is part of NFM’s C.A.R.E.S. initiative which focuses on the success of the family unit and the right of all people to have a safe, secure, and healthy place to live and grow.
To read about the groundbreaking research and holistic treatment of childhood cancer and other life-threatening diseases being performed by St. Jude and to make your own donation, please go to https://www.stjude.org/.
NFM Lending has completed its 11th Annual “Support Our Troops Drive”. On Friday, November 30, 2018, NFM sent 220 care packages to 110 groups of U.S. soldiers stationed overseas. Employees spent the months of October and November collecting items and filling boxes. Each soldier was sent two boxes: one with snacks, Ruckpack® energy drinks, holiday decorations, and a second with toiletries, puzzle books, socks, and more. Both included a hand-written letter, which were donated from students at local schools. These care packages were sent with the help of AnySoldier®. The soldiers receiving the packages are stationed around the world, in places such as: Kuwait, Qatar, Afghanistan, Iraq, Somalia, Bahrain, South Korea, Japan, U.A. E., and Jordan, just to name a few.
Since 2008, NFM Lending has sent over 1,250 packages to our service members stationed overseas. NFM Lending is proud to support the courageous men and women who serve our country, and wishes them a safe and happy holiday season.
LINTHICUM, MD, May 15, 2018—NFM Lending is proud to be the returning Presenting Sponsor for the third annual Stride and Thrive 5k and 1-mile run/walk on May 20, 2018. This event will benefit the Kelly Gynecologic Oncology Service in the Johns Hopkins Department of Gynecology & Obstetrics. This will be NFM Lending’s third year sponsoring the event.
The Stride and Thrive will take place at Homewood Field at Johns Hopkins University. Over 1,000 participants are expected to attend. The event is run by an all-volunteer staff, and all proceeds will support life-saving gynecologic cancer research, cancer survivors, and women undergoing cancer treatment. According to their website, “Every 5 minutes, a woman in the U.S. is diagnosed with a ‘below the belt’ gynecologic cancer. These cancers affect more than 100,000 women and cause over 30,000 deaths each year.”
“NFM is honored to be associated with such an amazing event,” said David Silverman, CEO of NFM Lending. “I am grateful we have so many caring team members that will donate their time to such a great cause.”
Mary Levinson, Branch Manager, coordinated NFM Lending’s involvement in the event.
“The Johns Hopkins Kelly Gynecologic Oncology Service is a world leader in surgery and oncology care for women diagnosed with gynecologic cancer,” said Levinson. “NFM Lending is proud to be the ‘Presenting Sponsor’ once again for the Stride and Thrive 5k and 1-mile run/walk. I am so inspired by the patients, their families, the doctors, nurses, volunteers, and all the participants that make this event so special.”
NFM Lending looks forward to being part of such an important and impactful mission.
About NFM Lending
NFM Lending is a mortgage lending company currently licensed in 29 states in the U.S. The company was founded in Baltimore, Maryland in 1998 and this year is celebrating its 20th anniversary. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.™” For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Twitter.
LINTHICUM, MD, April 2, 2018—NFM Lending is pleased to honor Colonel Erwin A. Burtnick, USA, Retired, as the NFM Salute for April 2018.
COL Burtnick served over 37 years on active duty and in the Army National Guard and the Army Reserve. Commissioned through Officer Candidate School, he has held numerous positions throughout his military career, including: Rifle Platoon Leader in the 115th Infantry, Adjutant of the 2122nd US Army Garrison, Secretary of the 2071st USAR School, Chief of the Evaluation Reports Branch (IMA) at the Military Personnel Center, and Director of Personnel and Community Activities (IMA) at the Supreme Headquarters Allied Powers Europe (SHAPE) in Belgium. He also commanded the 165th IMA Detachment in support of the Army Deputy Chief of Staff for Personnel at The Pentagon.
COL Burtnick is the recipient of 24 decorations, service medals, and ribbons, including the Legion of Merit. He was the first person in the Department of Defense to be presented the Military Outstanding Volunteer Service Medal (MOVSM), which was awarded for his work with the Committee for Employer Support of the Guard and Reserve (ESGR) in the Department of Defense (DOD). He received a second award of the MOVSM for his work with Veterans.
The longest serving ESGR member in the country, COL Burtnick was appointed in 1973 to the ESGR National Advisory Council and served as the chair of the central region of Maryland and an ombudsman. He is also a DOD Master Trainer. For his work with the committee, COL Burtnick has received numerous awards, including the Department of Defense ESGR Lifetime Achievement Award and the James M. Roche Spirit of Volunteerism Award, the highest award bestowed by ESGR. He was also previously designated the National Ombudsman Volunteer of the Year.
Commander of the Department of Maryland, Jewish War Veterans of the USA, COL Burtnick is also the chairman of the National Awards for Valor Committee. He serves on the National Executive Committee and is vice chairman of the National Finance Board. Active in numerous other veteran and military organizations; Colonel Burtnick is the commander of the General George G. Meade Chapter of the Military Order of the World Wars, the national membership chairman, and is on the National Executive Committee. He also serves on the Fort Meade Retiree Council. A commissioner on the Maryland Veterans Commission, he served as an ambassador in the Army Freedom Team Salute program. COL Burtnick is also an Advisory Board member of The Jewish Uniformed Service Association of Maryland (JUSA) and is the Military and Veteran benefit advisor. The JUSA provides current and retired men and women in uniform [Military, Police, Fire and Public Safety] of the state of Maryland with educational and social support and activities. JUSA’s motto – “Serving Those Who Serve Us” – reflects its mission to provide spiritual and counseling support to military members and Veterans and their families.
A graduate of The Johns Hopkins University, COL Burtnick lives with his wife, Janet, in Baltimore County. They have two sons, Jason and Scott. Jason is an aerospace engineer and Scott is an industrial/organizational psychologist.
COL Burtnick was nominated by his friend, Rabbi Chesky Tenenbaum.
NFM Salutes is an initiative in which one military member or Veteran is chosen each month to be honored as the “Salute of the Month.” Salutes are chosen from nominations on the NFM Salute website, www.nfmsalute.com. The “Salute of the Month” will be featured on the website with a brief biography and information about his or her service, and NFM Lending will make a $1,000 donation to a military or Veteran non-profit in the Salute’s name. COL Burtnick chose AnySoldier to receive this month’s donation.
Selected NFM Salutes may choose from one of the following three non-profits: Platoon 22, AnySoldier, and the Gary Sinise Foundation. NFM looks forward to the opportunity to continue to honor military and Veterans through the NFM Salute initiative.
About NFM Lending
NFM Lending is a mortgage lending company currently licensed in 29 states in the U.S. The company was founded in Baltimore, Maryland in 1998 and this year is celebrating its 20th anniversary. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.™” For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Twitter.
LINTHICUM, MD, March 23, 2018—NFM Lending is celebrating the two-year anniversary of its NFM Salute program. They honored their first NFM Salute on March 23, 2016.
NFM Salute is an initiative dedicated to recognizing the brave men and women who have fought and continue to fight for our freedom and our country. Every month, a nominated military service member or Veteran is chosen to be honored as the “Salute of the Month.” A brief biography and information about the Salute’s service is featured on both the website and NFM Lending’s social media. The Salute receives a gift and a donation is made by NFM Lending on behalf of the monthly Salute to one of three chosen non-profits: Platoon 22, AnySoldier, or the Gary Sinise Foundation. Since the start of the NFM Salute initiative, NFM Lending has donated over $50,000 to these military focused charities.
“Two years has flown by,” said Greg Sher, NFM’s Chief Business Development Officer. “The NFM Salute has fulfilled its promise to honor those who have and continue to serve our country. I just love reading the stories of our honorees and always look forward to the next one.”
NFM Lending is thankful for the opportunity to continue honoring U.S. military service members and Veterans through the NFM Salute initiative. Nominations are always welcome. For more information about the NFM Salute initiative, to read the stories of past Salutes, or to nominate a soldier or Veteran, visit www.nfmsalute.com.
NFM Salutes honored during the last year.
About NFM Lending
NFM Lending is a mortgage lending company currently licensed in 29 states in the U.S. The company was founded in Baltimore, Maryland in 1998 and this year it celebrates its 20th Anniversary. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.™” For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Twitter.
LINTHICUM, MD, March 22, 2018—NFM Lending will sponsor the Ronald McDonald House Charities of Baltimore’s (RMHCB) 7th annual Red Shoe Shuffle 5k Run and Walk. The event will take place on Sunday, April 8, 2018.
Each year, a group of NFM Lending employees and their family members participate in the Shuffle, either as runners, or as volunteers. This will be NFM Lending’s seventh consecutive year sponsoring this event.
The Ronald McDonald House Charities of Baltimore is an organization that provides a cost-free home away from home for seriously ill children and their families while undergoing treatment. They also work with and help fund programs in the local area that directly improve the well-being of children. Since 1982, the RMHCB has housed more than 35,000 families from not only around the country, but the world. Money raised from events like the Red Shoe Shuffle have allowed the RMHCB to start constructing an even larger facility to increase the number of families they are able to house every day.
“Once again, NFM Lending is proud to support Ronald McDonald House Charities of Baltimore,” said Gene DiPaula, Director of Marketing at NFM Lending. “The work they do with the children and families in our community makes a tremendous impact. The Red Shoe Shuffle is a fantastic event that NFM loves to participate in. Not only is NFM a corporate sponsor, but our employees love walking or running in the race and enjoy the feeling that they are making a difference in their community through this great philanthropic organization.”
NFM Lending is a mortgage lending company currently licensed in 29 states in the U.S. The company was founded in Baltimore, Maryland in 1998 and this year it celebrates its 20th Anniversary. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.™” For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Twitter.
LINTHICUM, MD, March 1, 2018—NFM Lending is pleased to honor Lance Corporal (LCpl) Joseph Fortuna as the NFM Salute for March 2018.
After high school graduation in 1992, LCpl Fortuna enlisted into the United States Marine Corps, where he served from 1992-1998. At the advice of his father, a Marine who served in Vietnam and Desert Storm, LCpl Fortuna became a Marine Automotive Organizational Mechanic (MOS 3521) and went to San Diego for training. Even after sustaining an injury during basic training and having to undergo rehab, he graduated and went on to Camp Pendleton, CA to attend the school of infantry with the 1st Marine Division. Afterwards, he continued to Camp Lejeune, NC to train as a 5 Ton/Humvee mechanic with the 2nd Marine Division. LCpl Fortuna was then discharged from active duty and reported to Headquarters and Service (H&S) Company 4th Marine Division in Chicago, IL. His unit was never activated for any combat operations and he was honorably discharged in November 1998. Since then, LCpl Fortuna has dedicated most of his time to supporting Veteran causes.
“…Not everyone has been as fortunate as me,” LCpl Fortuna explained, “Almost everyone in my family and circle of friends have served in the military in some capacity, including my daughter who just graduated from Paris Island last month. My dad would always say, ‘All gave some and some gave all.’ In the words of Veterans far greater than I, I’m definitely no hero, but I’m proud to have known some.”
LCpl Fortuna was nominated by his friend, Julianne Moore.
“Joe is an amazing man! He started a Motorcycle Club in 2003 called the Tunnel Rats, named after the Tunnel Rats in Vietnam, and the entire club is either active military or Veterans. With [Joe’s] help, all these men support and help Veterans in need. They donate money, ride in charitable rides to benefit Veterans, and take the time to help any in need. The Club has also made donations to Operation Combat Bikesaver, [where] Veterans help build bikes to help cope with their PTSD. All these things would not be possible without Joe’s inspiration and determination.”
NFM Salutes is an initiative in which one military member or Veteran is chosen each month to be honored as the “Salute of the Month.” Salutes are chosen from nominations on the NFM Salute website, www.nfmsalute.com. The “Salute of the Month” will be featured on the website with a brief biography and information about his or her service, and NFM Lending will make a $1,000 donation to a military or Veteran non-profit in the Salute’s name. LCpl Fortuna chose AnySoldier to receive this month’s donation.
Selected NFM Salutes may choose from one of the following three non-profits: Platoon 22, AnySoldier, and the Gary Sinise Foundation. NFM looks forward to the opportunity to continue to honor military and Veterans through the NFM Salute initiative.
About NFM Lending
NFM Lending is a mortgage lending company currently licensed in 29 states in the U.S. The company was founded in Baltimore, Maryland in 1998. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.™” For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Twitter.
Since our 10th Annual Support Our Troops Drive in 2017, we have received some great correspondence from some of the U.S. troop members stationed around the world. In December, we sent 200 care packages to 100 groups of soldiers. Today, we continue to send 4 care packages every month as a small way to show our troops how much their bravery and sacrifice is truly appreciated.
“We recently received a care package from you, thank you so much for the outstanding support! A little bit really goes a long way out here in Djibouti, Africa. Thanks again!”
“Thank you so much for thinking of me and the soldiers here overseas. We appreciate all of the support and kindness that you and your company have shown to us while we are currently stationed here. We hope you have a safe and a Happy holiday season.!! We also send our Blessing to you all into the New Year as well. Thank you!”
“I have received your 2 packages today. Thank you, the components were perfect & now we have a little something to decorate our office to make it feel more like Christmas here 🙂 Thank you very much for your support!”
“Thank you so much for supporting us troops here in Baghdad, Iraq! Your care package truly raised moral in our unit. We appreciate all the hard work, love, and patriotism it took to create and mail out the package you sent. All the items were distributed throughout our medical team. We are the 47th Combat Support Hospital based out of Fort Lewis, WA. We will be deployed until the end of June and appreciate your dedication to us deployed soldiers! Happy Holidays!”
NFM Lending sponsored and participated in the 6th annual Red Shoe Shuffle on Sunday, April 2, 2017. The Red Shoe Shuffle is an annual 5k walk or run around downtown Baltimore, benefitting the Ronald McDonald House Charities of Baltimore. This is NFM Lending’s 6th year sponsoring this event.
In addition to sponsoring the Shuffle, a number of NFM Lending staff members and their families participated as “Shufflers,” and employees raised $470 for the Ronald McDonald House Charities of Baltimore. In total, this year’s event raised over $310,000. To see Team NFM in action at the Red Shoe Shuffle, click here.
The Ronald McDonald House Charities is an international nonprofit that provide housing to families of seriously ill children while they undergo hospital treatment. The Baltimore chapter is located near many of the area’s hospitals, including Johns Hopkins, the Kennedy Krieger Institute, and more. The Baltimore Ronald McDonald House has been home to over 35,000 families since it opened its doors in 1982. NFM Lending is proud to sponsor this event, and to support this amazing organization.
