Welcome to Mortgage Guide
Mortgage Com Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Mortgage Loa Versus Renting
from:There 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 loa, 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 loa 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 Loa
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.
Mortgage Com Specific links
Mortgage Com News
Bankrate: Mortgage Rates Hold at Record Lows - MarketWatch (press release)
 Eastern Morning Herald | Bankrate: Mortgage Rates Hold at Record Lows MarketWatch (press release) NEW YORK, May 24, 2012 /PRNewswire via COMTEX/ -- Mortgage rates were little changed, remaining at record low levels. The average rate on the benchmark 30-year fixed mortgage rate was unchanged at the record low of 3.97 percent according to ... MBA Increases 2012 Origination Forecast By $200 Billion |
American Capital Mortgage Investment Corp. Announces Pricing of Public ... - MarketWatch (press release)
American Capital Mortgage Investment Corp. Announces Pricing of Public ... MarketWatch (press release) BETHESDA, Md., May 24, 2012 /PRNewswire via COMTEX/ -- American Capital Mortgage Investment Corp. (NASDAQ:MTGE) ("MTGE" or the "Company") announced today that it priced a public offering of 11000000 shares of common stock for total expected gross ... |
PRESS RELEASE: Freddie Mac Says Historic Lows For Fixed Mortgage Rates Hold Steady - Wall Street Journal
PRESS RELEASE: Freddie Mac Says Historic Lows For Fixed Mortgage Rates Hold Steady Wall Street Journal McLEAN, VA -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing the record lows for average fixed mortgage rates holding steady for the week. The 30-year fixed-rate mortgage ticked slightly ... |
American Capital Mortgage Investment Corp. Announces Public Offering of Common ... - Sacramento Bee
American Capital Mortgage Investment Corp. Announces Public Offering of Common ... Sacramento Bee By American Capital Mortgage Investment Corp. BETHESDA, Md., May 23, 2012 -- /PRNewswire/ -- American Capital Mortgage Investment Corp. (Nasdaq: MTGE) ("MTGE" or the "Company") announced today that it plans to make a public offering of 10000000 shares ... American Capital Mortgage Investment Prices Stock Offering |
Despite Home Value Gains, Underwater Homeowners Owe $1.2 Trillion More than ... - Sacramento Bee
Despite Home Value Gains, Underwater Homeowners Owe $1.2 Trillion More than ... Sacramento Bee By Zillow.com SEATTLE, May 24, 2012 -- /PRNewswire/ -- Nearly one-third (31.4 percent) of US homeowners with mortgages – or 15.7 million – were underwater on their mortgage in the first quarter of 2012, despite rising home values, according to the ... |