What are the advantages of using mortgage to buy a house?

[Ononivami]

The advantages is that it allows you to buy a house of your own house and make payment in a very flexible way. That's a great advantage. I have not seen mortgage banks function very well on my country.

 

[Bookwormlux]

It deprives you of the opportunity of how you can use your brain and come up with better ideas to resettle the loan instead of using a mortgage to purchase the house . There are so many advantages too.

 

[Syldan]

I dont think mortgage has any advantage to me personally for the purchase of a house. actually it can give you the opportunity to have a house within a short period of time but the debt is still on you for a very long time until paid.

 

[glitch]

You don't have to pay a huge sum out of pocket and if you are buying to invest, you can make the payment while using the rest of your money to fix the house up. Some people will do a mortgage and fix the house up in a few months, then flip it for a profit.

 

[Lens]

The advantages of using the mortgage is very enormous. You will have your dream home on a platter of gold and you will start to make payments gradually as it instalmentally.

 

[Ononivami]

The advantage of using mortgage to get a house instead you would get a property of your dream and you will pay installmentally. This is the advantage of using the mortgage loan.

 

[Sincerem]

You don't have to pay a huge sum out of pocket and if you are buying to invest, you can make the payment while using the rest of your money to fix the house up. Some people will do a mortgage and fix the house up in a few months, then flip it for a profit.

That's True, mortgage give you the freedom to raise or pay for your property or s period of time as agreed between you and the people giving you the mortgage. But this could also mean you are indebted untill you complete the payment for the property.

 

[Lens]

The advantage of using mortgage to buy a house is very enormous because you would have enough amount of money left when you get that out on a mortgage and it will be a house of your dream.

 

[Syldan]

Actually one of it, is that it gives you the opportunity to have what you want at the best time you needed but personally I dont really believe there us any benefit from such kind of transaction.

 

[Ektalakra]

There are many reasons why renting can be less expensive than purchase. Individuals in everyday contrast just the rental installments with the mortgage, while overlooking many secret expenses.
Buying or renting a house is less of a financial decision and more of an emotional decision. Your primary home is not really a prudent financial investment. It helps when you have a large family and want to build an experience for them. Just factor in what amount you are willing to pay for that luxury.
The key advantage that homeowners have is that they have significant political power and use that to write tax laws favorable to them. But, even with those tax laws, it is not really financially beneficial to own a house.

 

[Sincerem]

There are many reasons why renting can be less expensive than purchase. Individuals in everyday contrast just the rental installments with the mortgage, while overlooking many secret expenses.
Buying or renting a house is less of a financial decision and more of an emotional decision. Your primary home is not really a prudent financial investment. It helps when you have a large family and want to build an experience for them. Just factor in what amount you are willing to pay for that luxury.
The key advantage that homeowners have is that they have significant political power and use that to write tax laws favorable to them. But, even with those tax laws, it is not really financially beneficial to own a house.

Aside the convenience of having your own home it still doesn't really have any benefit to the individual especially when the house is bought with a mortgage this comes with as much disadvantages as renting a Home. But anyone has the liberty to choose which they prefer and which they can be able to afford.

 

[Ononivami]

The advantage of using a mortgage to get a house is very huge than the disadvantage that is involved in it because you would get a house of your dream and you will be paying installmentally. The disadvantage is the interest that will be put on it.

 

[Lens]

One of the major advantages of using mortgage to get a house is that you would no longer be a tenant and you would be a landlord but I will be making payment instalmentally for the house that you have gotten to the bank.

 

[tyrim88]

I believe that the greatest benefit of acquiring a home through a mortgage is that you will be stable in a place without having to look for rentals every so often, another very good reason is that instead of paying a monthly rent, you would be paying for something that will be yours and for your family. The important thing is to be responsible and not stop paying for the time it lasts.

That is definitelly why the issue of getting a home from mortgage is just the best idea,because the money you would have used to get an expensive accomadation would be chanelled towards funding the mortgage project.

 

[HK World]

What are the benefits of using mortgage financing to buy house that you know? Is it worth it that someone might be in debt for all his Lifetime because of mortgage payment?

Having your own home is a goal for many people in the UK. Yet, in order to buy a house, most of us will have to take out a mortgage.

Taking out a mortgage is a major life decision and one that should only be taken after much consideration.

Advantages of having a mortgage​

Easy to Repay - The mortgage is repaid little by little on a monthly basis.

Help to Buy - The government has introduced a number of initiatives in recent years designed to make taking out a mortgage more affordable.

Cost-effective borrowing – The interest rates on a mortgage are generally lower than for other types of borrowing.

 

[Chibson]

That is definitelly why the issue of getting a home from mortgage is just the best idea,because the money you would have used to get an expensive accomadation would be chanelled towards funding the mortgage project.

I think the idea of using mortgages to buy houses is a welcome development and I would really appreciate if it is so in this part of the world. It will give so many people the opportunity is to own houses.

 

[tyrim88]

I think the idea of using mortgages to buy houses is a welcome development and I would really appreciate if it is so in this part of the world. It will give so many people the opportunity is to own houses.

Well you could see the benefits that mortgage system will be bringing into the real estate sector,but that is not the case here,because there is no framework to allow this kind of system to work,and that is a big minus to the real estate sector.

 

[Chibson]

Well you could see the benefits that mortgage system will be bringing into the real estate sector,but that is not the case here,because there is no framework to allow this kind of system to work,and that is a big minus to the real estate sector.

The mortgage system can't work in some countries for sure but I think with time such things can be resolved. In countries where it works, almost everyone can own a real estate property.

 

[tyrim88]

The mortgage system can't work in some countries for sure but I think with time such things can be resolved. In countries where it works, almost everyone can own a real estate property.

That is as a result of a workable framework based on proper planning and popultion growth analysis.because if there is no adequate planning the issue of real estate for a number of persons will continue to be having deficite.

 

[Danny4cash]

It has many advantages. It'll make owing house become easy. The payment plan is easy. They give you enough to repay the house money and once you complete the money, you'll become the owner of the house. It has disadvantages also, but it's advantage overweight the disadvantage.