–Data Released from First National Bank of Omaha’s ‘Mortgage and Money’ Survey–
OMAHA, Neb. June 14, 2018—In recognition of National Homeownership Month, which takes place in June, First National Bank of Omaha today released the results of its Mortgage and Money Survey. An inaugural initiative, the survey examined Americans’ preferences, experiences and plans related to mortgages and homeownership.
The study found that 61% of those who have taken out a mortgage have yet to pay it off. In addition, of those who have taken out a mortgage, nearly half (48%) have refinanced. According to the data, 79% view homeownership as a financial investment, compared to 21% who say financial liability.
“Taking out a mortgage is one of the biggest—and, if executed correctly, smartest—financial moves anyone can make in their lifetime, for themselves and their families,” said Jerry O’Flanagan, executive vice president, Consumer Banking Group, First National Bank of Omaha. “Our survey results reveal data on the current state of mortgages and homeownership in America, and on the importance of educating people on all their financial options, whether they’re pre-loan, post-loan or just starting to plan their future.”
Among the survey’s findings:
Additional data from the survey results is available upon request.
This report is a follow-up to First National Bank of Omaha’s Financial Literacy and Lifestyle Survey, released in April, which found that 50% of 18-to-60-year olds do not regularly contribute to a 401(k).
The study was conducted online using Survey Monkey. Over a thousand participants were polled, spanning across the United States. Participants were all over the age of 18 and represented a broad range in income, geographic location and gender.
ABOUT FIRST NATIONAL BANK OF OMAHA
First National Bank of Omaha is a subsidiary of First National of Nebraska. First National of Nebraska and its affiliates have more than $21 billion in assets and 5,000 employee associates. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas.