A mortgage, basically speaking, is a loan. When you set out to purchase a home, no one expects you to have, say, $500,000 in cash. So that’s where a mortgage comes in: You borrow the extra money that you need to buy your chosen home, agreeing to pay it back in the coming years.
The huge debt a mortgage incurs can be seen as a burden. But its appeal lies in the fact that the mortgage helps you to buy an asset with the expectation that its value will increase over time, which adds to your financial portfolio, gives you a big tax break and, you know, finances a place for you to live.
Along with being expensive, a mortgage can also be complicated, so we’re breaking down the basics for you.
Want to read more...https://www.foxbusiness.com/features/mortgages-101-what-you-need-to-know
Author:Matthew OHare Phone: 201-954-2198 Dated: November 10th 2018 Views: 1,120 About Matthew: ...
View our latest blog posts in your RSS reader. Click here to access.
Great Article regarding tax law and owning a home. https://www.fo
"My husband and I feel lucky to have Will Alfaro as our real estate agent. He has helped our friend sold their place and they were extremely happy with him as well. As a result, when we have decided to put our house on market, we looked no further. From the beginning, Will has been professional, patient and a wonderful communicator! He is knowledgeable but his greatest quality is that he reads people and situation well. He is calm and level headed. Selling and buying a house can be a stressful and emotional event. He has been our rock during this process and helped us defog our minds to make sensible decisions that are to our best interest. He is a great guy and it has been a pleasure working with him! "