About Jon Iacono
Jon Iacono brings his 21+ years of experience in the industry to Advisors Mortgage Group. Jon was born in Brooklyn, NY but has lived the majority of his life in Monmouth County, NJ. As a graduate of Monmouth University with a concentration in Management and Computer Science, Jon brings his training and education to Advisors Mortgage to help grow and manage the recruiting team.
Jon worked alongside many mortgage and real estate industry professionals previously with Mortgage Intelligence companies such as, Mortgage Market Guide, Loan Tool Box, Certified, Scripts for Success, CMPS, MBS Highway, Turning Point CRM and more. Jon gives back to his community and has been an active volunteer firefighter for the Colts Neck 84 -1 station since 2004. He enjoys staying active by playing golf, lifting weights, boxing, training Jiu Jitsu and most importantly spending time with his two kids Lily and Jonny Jr.
Home Equity Increasing
September 16, 2024
CoreLogic released their Home Equity report, and it showed that people who own homes with mortgages, which is 62% of all homes, gained $1.3 trillion in equity, or 8%, from Q2 of 2023 to Q2 of 2024. This brings the total home equity to over $17.6 trillion. Maine, California and New Jersey saw the largest average equity gains nationally. Homeowners gain equity when they pay down their loan and as their home’s value increases.
On average, homeowners with a mortgage have about $315,000 in equity, and they can borrow against it in the amount of about $200,000. It is also important to note that only 960,000 homes have negative equity, which is 1.7% of homes with mortgages or 1% of all owned homes.
Some facts about homeownership in the U.S.:
●136 million total households
●91 million homes are owned (67% homeownership rate)
●56.5 million homes have a mortgage (62%)
●34.5 million homes are owned free and clear (38%)
●45 million homes are rented (33%)
Sources:
