The advantages of buying a home with mortgage is that you can do it even without adequate funds. Once you have gotten the house, you can gradually pay off your mortgage.
What are the advantages of using mortgage to buy a house?
- Thread starter Ralphjoe
- Start date
Mortgage is another means if borrowing but make sure you have the needed collateral , before collecting the deal ,so you would not be rejected
Mortgage is another means if borrowing but make sure you have the needed collateral , before collecting the deal ,so you would not be rejected
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Mortgage is another means if borrowing but make sure you have the needed collateral , before collecting the deal ,so you would not be rejected
One of the advantages you can get from using montage to buy houses is that the pressure will be low and also it is very easy for individuals to own the house.
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Using mortgage to buy a house is very good especially for those who cannot afford to build or buy a house with their finance easily. Building your house with mortgage makes you to feel fulfiled in achieving things you wouldn't have achieved easily with your savings or salary.
To be frank I think before answering this question one need to be economical and business inclined they are lots of benefits associated with it actually .
- Thread starter
- #86
The thing is using Mortgage to acquire houses comes with a lot of disadvantages and so this led me to start inquiring what might the advantages be.
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Exactly, this is what most people who I know that lives abroad makes use of when it comes to buying and paying for their house. They don't stress too much about it.
Using mortgage financing to buy a house is somehow risky and not adviseable , so if someone doesn't have the tendency and means of paying back a mortgage, it's better not to borrow mortgage money.
Well, if you don't have a good and steady source of income for you to be able to make use of in paying off your house mortgage, it may end up making you lose the house on the long run.
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Mortgage is a easier way for you to acquire a housing property because you pay installmentally, mortgage is very important especially to those who are working for them to acquire property.
- Thread starter
- #91
I don't think any mortgage company would even grant your mortgage request if they noticed that you do not have a steady source of income whereby you can pay off your mortgage fees as Time goes on.
Exactly, it's how it works because they are definitely going to be looking out for their company in such a way that they would not have to incur loss when they initiate a bad business deal.
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To me borrowing is borrowing irrespective of the form it takes either a mortgage or loan. The only advantage is the ability to acquire or access found when needed. Apart from this I don't see other advantage in it because you must still pay back the money in due time.
Well simply put, getting mortgage to actually get a house is more or less like you taking a loan to get your house and it's definitely going to come with interest because you definitely have to pay back on the long run.
Having your house through mortgage definitely has it's advantages and also there are disadvantages too attached, you might get to pay little for starting but the payment might drag on for a long time
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One of the advantages of using mortgage to acquire a house is that you will have to be able to have cash at hand to be able to get your house instead of when you don't have mortgage.
If you are renting a house for 5,000 and the loan you can get can buy you a house, probably a smaller one then check the monthly installment payment. If you can afford the monthly installment then you can go with the loan, move to the new house and you will not spend for the rent anymore.
exactly you're very correct in your assessment because it's what people need to look out for when they actually getting mortgage to buy houses but some are in a haste and they make mistake of not checking all those things and it makes it difficult for them to pay the mortgage in the end.
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- Thread starter
- #99
The fact that pain of this instrumental payment monthly we're also equate to paying monthly rental fees for the hell is quite a good advantage for purchasing a house through mortgage. I have never thought of it this way before.
well no matter how you look at it there's always a negative and positive side to everything so what you are going to consider is how much negativity is involved?
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