Advantage of mortgages

[Ralphjoe]

Mortgage is a loan given by mortgage bank to an individual so as that individual can own a home. It can pay for upto 80% of the total value of the house.
Now from these, what do you think is the benefits of mortgage to the real estate business?

 

[chalcedony8]

a mortgage is an effective way of borrowing, the most important advantage of mortgage is that it's interest rate tends to be lower than other forms of borrowing.

 

[Alexandoy]

We bought our present home courtesy of a bank loan as a benefit of my employment in a commercial bank. Prior to that purchase by mortgage we were renting for 7 years. Our last rent was 8,000 pesos a month while the installment to the mortgage was 11,000 a month. Isn't it just a slight difference? But after 10 years of paying 11,000 per month the home will be ours. Actually it was fully paid more than 5 years ago and we already have the title of the property to our name.

 

[Nicklas22]

A mortgage is a cost-effective way of borrowing:
Interest rates on mortgages tend to be lower than any other form of borrowing because the loan is secured against your property

 

[Highflyer]

Owning a commercial property has its benefits including:



Lower interest rates
Capital gains
Renting potential
Financial planning
Cost-effective borrowing – The interest rates on a mortgage are generally lower than for other types of borrowing. Lenders can offer a variety of mortgages such as fixed-rate, tracker or discounted deals. Interest rates on mortgages tend to be lower than any other form of borrowing because the loan is secured against your property.

 

[Suba]

Home Ownership Loans are a type of mortgage loan that has been popular for decades, in my opinion, the benefits of a mortgage for business real estate (mortgage loans) are: The payment process is light because it is paid in installments every month for a long term of 3 to 15 years, because currently it is difficult for us to buy a house in cash.

 

[Adeyoola7]

A mortgage is a cost-effective way of borrowing:
Interest rates on mortgages tend to be lower than any other form of borrowing because the loan is secured against your property.

 

[Maliha]

Advantage of mortgage os that you will get the loan at very low interest rate and you can easily return it on every month in an affordable monthly Installment.but the problem is that if the borrower failed in paying off the loan then their property gets into risk of loss,

 

[Nurudeen]

There are a whole lots of benefits that comes with getting a mortgage loan from banks. First and foremost, educationist will say the three basic things of life is food, clothing's and shelter. As a family or family man you should be able to provide all these basic things for your family especially shelter. If you have shelter your family will be respected more and it will lay you off any dangerous event in the society.

 

[giddy]

Simply put, a mortgage is the loan you takeout to pay for a home or other piece of real estate. Given the high costs of buying property, almost every home buyer requires long-term financing in order to purchase a house. Typically, mortgages come with a fixed rate and get paid off over 15 or 30 years.

 

[GIFTMICHAEL]

Advantage of mortgage or borrowing in the bank for the purposes of owning a property in the future is that it has a low interest rate.
It enable you to own a property by paying gradually in an installment rate.

People who could not be able to afford property before can now have one.

 

[Sariana23]

The benefits of a mortgage for real estate companies is that most people do not have the resources to buy a home. Therefore, they go to the banks so that through said mortgage they can acquire it. What gives benefits to entrepreneurs in the sale of their properties and to clients of acquiring a home and paying it in installments to banks.

 

[Mawome]

Sir the advantages is more than the advantages am telling you what I saw which I will explain hereafter, a man in my area borrowed some money from the bank it's about 6 billion naira in my local currency, they gave him twenty years to pay back, sir do you know that the man couldn't pay up, unfortunately he died without paying the money, now the bank has already confiscated all his property

 

[Rameez0007]

A home loan makes house purchasing moderate:

Purchasing a house is probably going to be the greatest buy you'll at any point make and a home loan will be your biggest obligation. Since you can spread the reimbursements on your home credit over such countless years, the sum you'll repay each month is more sensible, and moderate!

Generally, when individuals take out their first home loan, they've would in general select a long term. Nonetheless, there are no standards about this and as we are living longer and the retirement age is going up, 30-year contracts are getting more normal. This can help cut your regularly scheduled installments down, however on the other side you'll be burdened with the obligation for more.

 

[Alexandoy]

A home loan makes house purchasing moderate:

Purchasing a house is probably going to be the greatest buy you'll at any point make and a home loan will be your biggest obligation. Since you can spread the reimbursements on your home credit over such countless years, the sum you'll repay each month is more sensible, and moderate!

Generally, when individuals take out their first home loan, they've would in general select a long term. Nonetheless, there are no standards about this and as we are living longer and the retirement age is going up, 30-year contracts are getting more normal. This can help cut your regularly scheduled installments down, however on the other side you'll be burdened with the obligation for more.

You are right that a long term loan for buying a home is the only option for those who are not rich. It took us a long time to buy our own home because it was not easy to obtain a housing loan even if I had my connections. The mortgage we took was 13 years to pay in the initial term.

 

[Mostee501]

A mortgage is another type of loan given to help facilitate a house project either building or buying a home and is affordable and flexible to beneficiaries compared to other forms of borrowing platforms.

 

[Adventurer]

Mortgage is a loan given by mortgage bank to an individual so as that individual can own a home. It can pay for upto 80% of the total value of the house.
Now from these, what do you think is the benefits of mortgage to the real estate business?

Of course the mortgage make their money from the interest on the amount paid. It's just like borrowing money from a bank, there is always an interest to be paid back. But it's really worth it because you become a house owner via this means.

 

[Tinaconcept]

If you are a tenant in some cities where renting a house is so expensive you will appreciate mortgage loan because unlike renting that after payment of huge sums the house is still not yours, in mortgage loans after paying instalmentally the house automatically becomes yours.

 

[Victor72]

Mortgage is very beneficial especially home mortgages, imagine you been a home owner within a little space of time especially when you have a steady source of income that will help you pay off your mortgage in no time.

 

[Richard92]

Mortgage is very important because it helps the individual to pay insulmentally and also helps you to own a good property even though you are not earning much.