Welcome to Mortgage Guide
Home Mortgage Loan Rate Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Mortgage Loan Versus Renting
from: Mortage & Debt FactsThere is a big debate these days whether it even pays to take out a mortgage loan or if renting ends up being cheaper.
Since most people can’t buy a house outright with cash, and depend on getting a mortgage loan, there are some reasons that might make renting more attractive in the short-term. However, if you are looking for stability, a way to build wealth and a home you can call your own – a mortgage loan is the way to go.
The Benefits of Renting
Renting allows a certain mobility in your lifestyle. You sign a lease for a particular timeframe, and if you have to move you can still leave by paying a penalty. On the other hand, if you own your home, you can’t get out of your mortgage simply by moving. You have to sell the house and that can be a problem if your job takes you to many places.
If you are very mobile, it’s difficult to make up the 6% you will have to pay the real estate agent to sell your home.
You do have fewer maintenance issues when you rent. If something breaks, you just call the landlord. A mortgage loa does not cover the monthly expenses of maintenance and they can cost a lot. If your roof needs to be replaced, you will spend in the thousands of dollars. However, if you rent the maintenance and appliances are taken care of by the leasing company.
The Benefits of a Mortgage Loan
While these types of benefits for renting are huge, there can be even bigger rewards for buying. When you rent, all of the money you spend for rent is not tax-deductible and does not serve to build up equity for you.
In that sense, rent can be like throwing your money away. If you buy, you can find ways to generate equity and use the interest on the home mortgage loa payments as a tax write-off too. This can put you in a lower tax bracket and easily save you thousands, on top of the thousands you make in equity in a rising market.
There are many different types of mortgage loans out there. You can get an adjustable rate mortgage loa or a fixed rate mortgage. Often, the payments you make on a mortgage can be less than what you would pay for an apartment. However, this all depends on the housing market.
Right now, there are some markets where rentals are cheaper than buying, so be sure to check your local market to find out which is best for you.
Home Mortgage Loan Rate Specific links
Home Mortgage Loan Rate News
Freddie Mac: 30-year mortgage rate down a tick at 3.78% - Los Angeles Times
 OregonLive.com | Freddie Mac: 30-year mortgage rate down a tick at 3.78% Los Angeles Times The typical rate on a 15-year fixed loan held steady at 3.04%. Sales of new homes were rising in a recent survey, with the low rates helping to make housing more affordable. But many homeowners are trapped in homes worth less than their mortgages, ... US 30-Year Mortgage Rate Falls to Record 3.78 Pct. Mortgage Rates for 30-Year US Loans Fall to a Record-Low 3.78% |
Fantastic Home Loans Mortgage Rates in New Zealand - PR Web (press release)
 PR Web (press release) | Fantastic Home Loans Mortgage Rates in New Zealand PR Web (press release) The new site is Fantastic Home Loans and the result is a program that lives up to its name. Fantastic Home Loans would like to provide you with an insight into what is happening with mortgage rates in the last week, as homeowners with mortgages or new ... How to reduce mortgage interest payments Are We Facing a Student Loan Bubble? |
Despite Home Value Gains, Underwater Homeowners Owe $1.2 Trillion More than ... - MarketWatch (press release)
 Los Angeles Times | Despite Home Value Gains, Underwater Homeowners Owe $1.2 Trillion More than ... MarketWatch (press release) Despite the high rate of negative equity, the majority of underwater homeowners are current on their mortgages. Nine in 10 continue to make their mortgage and home loan payments on time, with just 10.1 percent of underwater homeowners more than 90 days ... Percentage of underwater homeowners still growing Zillow: Phoenix has second-highest rate of underwater homeowners Underwater Nation: 16 Million Borrowers Owe More on House Than It's Worth |
Mortgage Rates: Low Mortgage Rates Spark Increase in New Home Sales - FreeRateUpdate.com
 Best Syndication | Mortgage Rates: Low Mortgage Rates Spark Increase in New Home Sales FreeRateUpdate.com Sales were up in all regions except the South, which was hit extremely hard during the housing crisis. Today's 30 year fixed mortgage interest rates are at 3.375% and 15 year fixed mortgage rates are at 2.750%. 5/1 ARM loan rates are at 2.125%. HSH.com Weekly Mortgage Rates Radar: Fixed Mortgage Rates at New Record Low Again Mortgage applications up on refi demand: MBA Current Mortgage Rates: US Bank, Fifth Third Bank and BB&T Home Purchase Rates ... |
Clients enjoy mortgage 'craziness' - Stuff.co.nz
Clients enjoy mortgage 'craziness' Stuff.co.nz With fixed home loan interest rates at historic lows and banks further undercutting advertised rates for those that ask, mortgage holders have never had it better. But some warn the "craziness" cannot continue, and people should consider fixing their ... BNZ grows residential mortgages with loan-to-valuation ratios above 80% in ... |