The thing there is buying a house with mortgage help uou to saving while you own a property of your own because you pay bit by bit and still enjoy your apartment.
What are the advantages of using mortgage to buy a house?
- Thread starter Ralphjoe
- Start date
An expat real estate investor make use of mortgage to acquire property which is not within their capacity. And they will pay back with the rent they get from the tenants. And my complete passive income this way.
Wow that is true and people are looking for an opportunity to get their houses as soon as possible so having an opportunity like this to make such decision will not be something that a lot of people will find it very difficult to make.
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The one advantage is that you will acquire an asset within a possible short time. Personally, I don't prefer using mortgage to secure a property.
That is actually the best option if one wants to get a property in no distant time,because the period of waiting to accumulate money in large sum,might not be possible due to some other expenses,but with this it can be possible.
Lots of people were able to get a house through Mortgage financing. The benefit is outweigh the any other thing. As far as the payment play is flexible and you have a stable source of income and you want to own a house Mortgage financing is the best option.
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If you don't have a regular income, buying a house with mortgage is not recommended. However, if you have a regular income and if you can make regular repayment for mortgage, buying a house through mortgage can be really helpful.
I wouldn't advise installments payment for a house which is regarded as mortgage because of its high interest instead get a savings plan and buy a house
Mortgage allows you to buy house at the tiny fraction of the entire cost. You can spread the rest of the payment over several months or years depending on your ability.
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The advantage of using mortgage to buy your house is that you might decide to park into your house without making the complete payment for it right away. Because you'll only need to making the payments instalmentaly only
- Thread starter
- #151
This is very true as a lot of people makes use of mortgage financing to actually build or purchase their houses but one thing about this month get financing is that it is not that much in my country Nigeria and most people are always in the habit of saving up money to build up house instead of making use of the mortgage financing.
A mortgage makes house ownership more cheap: Because you can stretch the payments on your home loan over a longer period of time, the amount you'll pay back each month is more manageable and affordable!
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That's why most Nigerians can afford to buy a house. I don't think we have lots of mortgage banks and awareness on the importance of mortgage financing. Even the few we have, to get access to the loan is another problem on it own.
The best advantage is that the house or property will be yours within a short period of time and at the right location
Yes that is true, even me if I have an opportunity to see this offer and it is my location in which I am really interested I'll just take it without hesitation because no matter what I will be able to pay it back no matter how long is going to take.
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This is actually what an offer like this usually bring to the table,especially for those who might not be able to get that huge lump sum for a property,this package is in for them to leverage on.
- Thread starter
- #157
It is very pathetic that a lot of people in Nigeria cannot have their own property as a result of the fact that there are no more mortgage banks in the country and even the few that are available would not easily Grant the loans. I think Nigeria needs a lot more mortgage banks around and then more awareness needs to be created so that people can know the advantages that are inherent in using a mortgage bank to build or buy their properties.
Northgate gives you the opportunity to secure the ownership of a house even when you don't have all the money to pay in full. you can even spread the payments over a long period of time.
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Seriously a lot of people will be interested because it will relieve them the heavy burden of paying rent and they will rather be using that money to be paying out their house debt. It is even better than saving millions of naira to buy a land and so on.
Not everyone has the means to pay of for house ownership at ones. Mortgage helps those with limited means to acquire properties. You get to spread your pay which is easier. Just that some don't end up meeting up, hence become a lifetime debtor.
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