One of the largest assets most Americans will ever have is their home. Yet most of us don’t see our home like we do other assets – even those using a financial manager typically aren’t maximizing the wealth in their homes. According to a recent US Census report, by the time the average American reaches 65 years of age, 65% of their personal wealth is in their home equity. That’s a huge part of your retirement that’s not being actively managed!
Maximizing the wealth in your home goes well beyond refinancing. It includes the larger financial picture, including home improvements and even rental potential. That’s where Homebot comes in … this technology empowers homeowners by capturing lending insights and applying them to their specific home loan scenario every month.
Building Your Wealth
Founded in 2015, Homebot is a customizable robot that gives you the ability to manage your home as an asset. It provides monthly information to you that includes:
- The current value of your home
- Your equity position
- Short-term rental potential
- Refinance options
Each month, Homebot updates your personalized web page that monitors and optimizes every home finance decision for building your long-term wealth. The information is specific to your home. Not only does it track your home’s value, mortgage(s) and market conditions, it also gives you advice about when to buy or sell your home, when to refinance, when to drop your mortgage insurance, how to save by strategically paying your principal payments, and even how much you could make if you rented your home on sites like Airbnb!
Homeowners Leave Wealth On The Table
Homebot estimates U.S. homeowners loose out on $100 billion every year by not maximizing the wealth in their homes. Here’s one example from Homebot that shows how a homeowner can loose money by not managing their home as an asset.
Left $125,543 On The Table By Not Refinancing
In this scenario, had Joe (the homeowner) refinanced four years ago, he’d be $125,543 richer at the end of his payments. Since he didn’t have the time or confidence to understand the market and finance variables, he missed out on this opportunity. Homebot could have helped him understand his current position, including rates, term, equity and then compare this info to current market data. That way he would know precisely when to refinance and at what terms — and how much wealth he’d build as a result.
How Can You Get Homebot?
Homebot does not market to the consumer. It’s available today exclusively through your lender or real estate agent. As a provider of this service, The Christiansen Group @ Citywide Home Loans vision is to empower homeowners to make smart decisions, save money and build wealth faster. We’ve made Homebot available to all our past, current clients and future clients.
Get A Snapshot of Your Home’s Wealth
Installing this free app now allows you to start making financial decisions to better your future.
Questions? Contact us and we’ll be happy to help!
Homebot is not affiliated with Citywide Home Loans. Citywide Home Loans is not responsible for accuracy of the information provided by Homebot. The Loan Officer is not an employee of Homebot.