forgetting for a while
Never own your home immediately. Instead, you have a large 30-year mortgage, and you never pay. Regardless of your age and income. If you're like most people, you hate your mortgage, and you'd like to get rid of it as soon as possible. Each month when you receive a monthly annuity, agree a faint expression of your face and you will know that you will pay more interest over 30 years than the total value of your property. That's why you paid as much deposit as possible to make the mortgage as much as possible when you buy a property. It is possible that you are planning a mortgage loan that is repayable for 15 or 20 years after 7, or as soon as possible, with additional monthly payments to reduce your equity as soon as possible. It is a completely logical and natural way of thinking as soon as possible to resolve the housing issue for yourself and your family.
Still, the 30-year mortgage is the best
In today's economic environment, a large long-term mortgage is the best thing you can own. Instead, you should buy the cheapest one that meets your needs - and take the largest and most long-term mortgage loan. So do not fully pay off your mortgage. Refuse the 15-year credit facility and forget about additional payments for mortgage repayment. Before all this we have told you to discard, read this to the end - because we'll explain how your mortgage can help you earn incredible amounts. To begin with, realize that everything you know about mortgage and housing loans - in reality, is your fears about them - is wrong. However, loans are expensive and you prefer to avoid paying interest. That's why you like the idea of sending additional payments to reduce the principal. You know that early repayment of your loan can save you the large amounts you would otherwise have paid for interest. Although this is true, we must look at the other side. To help you, we will investigate and explain the ten major reasons why you should have a large long-term mortgage.
No. 1: Your mortgage does not affect the value of your property
You buy a property and because you think its value will grow over time. (otherwise they would hired.) So your real estate will grow or fall in value whether or not it is under a mortgage. That is why if you own a real estate right now and in full, it's like you've hidden your money in the pillow you're sleeping on. As the value of real estate increases with or without a mortgage, your property locked inside it does not earn any interest, ie it does not increase the value. If you do not put 15,000 euros in the pillow, why do you then let 150,000 euros inside the walls of the house? If you have a long-term mortgage, your property grows along with the real estate value.
No. 2: And without a mortgage you invest in your real estate
Many property owners are trying to increase their property by repaying mortgages. But it does not yield good results as compared to the property you will be creating as your house grows in value. So you own a mortgage because you will also invest in your real estate without a mortgage.
No. 3: The interest we pay for mortgage and housing loans are inexpensive
There is no way to avoid debts in today's world. Cars, schooling - and even buying a better TV requires a loan. And just mortgage loans are the cheapest money we can get on the market. The mortgage loan is the cheapest because the bank owns over your property and if we do not pay a bank loan, it sells our property in order to be charged.
No. 4: Mortgage loan increases tax incentives
Not only do mortgage loans have low costs, but the interest we pay we give is a tax return. So here we can earn 12,000 kunas each year, then we can invest or use it for some other purpose. This is another factor that reduces the cost of mortgage loans. Why then have credits on credit cards that cost 15% and do not have a tax refund, if we can have a 6% interest rate that allows us to refund tax? Your mortgage is the cheapest money we can borrow, why not use it as much as possible?
Reason no. 5: Mortgage interest has tax advantages
Suppose we have a mortgage with 6% interest and 6% profit on our investment. The mortgage gives us tax relief, and we do not pay the tax on the profits of the securities. Although we are not sure how long it will last, we can take advantage of such a favorable situation. In other words, tax relief can be another convenience for a long-term mortgage.
No. 6: Anuities over time become cheaper
If we pay today an anuity for our $ 500 credit, as time passes, these annuities are cheaper and cheaper. With inflation of 4%, over 15 years the value of those same
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