Disclaimer: This post is sponsored by Eave. All opinions are entirely my own.
I’m always on the lookout for the latest way to build wealth. You should be too. Whether it’s through social media, through online content, through cryptocurrencies or through whatever the world is going to throw out next, opportunity is never far away—if you’re prepared to look for it and seize it.
But that doesn’t mean you should ignore the old and the traditional methods. One of the best ways to build long-term wealth is still through home-ownership. Buy a home as soon as you can afford the down payment and the mortgage. Put those monthly mortgage payments into the walls instead of the pockets of a landlord, and know that the value of your asset will grow over the years even if the property market does dip occasionally.
It’s a great balance for your cryptocurrency investments. No one knows where Bitcoin or Litecoin will be in twenty years. I expect that their values will have risen but there are no guarantees. You do know exactly where your house will be when your mortgage is done and dusted.
That’s why I’m always impressed when I see innovation in homeownership opportunities. Where I live in Colorado, a company called Eave has been making things easier for people looking to get on the housing ladder. They do all the underwriting within a day so that buyers know exactly how much they can afford.
Eave is a luxury lender (suitable for mortgages above $650,000), and they guarantee a successful close, usually returning earnest money up to $100,000 if the deal falls through. Their lending rates are said to be among the lowest around and highly qualified customers can land some real bargains as a result of lender error. (That alone should be enough to make them worth a conversation.) They don’t charge lender fees and they can help borrowers craft offers that let them compete with cash buyers. (I love that. Taking out a home loan is a bet on your own future. People with the confidence and courage to take that bet should be rewarded, not penalized.)
And Eave is ethical. Not only have they managed to undercut bank rates and spread opportunity, they also make a “major donation” in the buyer’s name to build homes in India every time they make a loan.
6 Steps To Help Your Kids Become Homeowners from Eave, Inc. | NMLS # 1529229 on Vimeo.
Creating wealth is never straightforward. It’s rarely fast and it’s usually risky. Build a business and you never know what tomorrow will bring. You could find yourself running a large corporation in ten years’ time or you might have to fold it up and try another idea. That’s part of what makes entrepreneurism so exciting.
But home ownership is reliable and stable. It’s something that doesn’t require any special skills or training. All it demands is the financial discipline to build enough savings for the down payment, and the personal responsibility to continue making those payments until the home is paid for.
It also requires nerves of steel to get through the loan application and the offer process, and to figure out all the financial paperwork that buyers need to go through to become property owners. The fact that Eave makes that whole process so much easier is a hugely valuable service. The path from savings to reliable wealth development is now a great deal easier.
If only turning an idea into a profitable business were just as easy!
You may start the application process now and use Referral Code CWT-Z5G. When you do, Eave will make a donation to Home Aid (a national non-profit).
Note: I am not a financial advisor and this piece is my opinion only. It should note be construed as financial advice of any kind.