• PhlubbaDubba@lemm.ee
    113·
    7 months ago

    How? Mortgage is the same risk exposure as rent with a “landlord” who holds even less responsibility to maintain the quality of the place than in a rent arrangement.

    • helenslunch@feddit.nl
      5·
      7 months ago

      A mortgage broker is not a landlord. Not even close.

      They hold 0 responsibility because they don’t own the property.

      How? It’s called building equity. Every payment you make contributes toward your ownership of the property. Something you can borrow against at a low rate or cash in at any time.

      When you move out of your lease you take nothing with you.

    • jj4211@lemmy.world
      1·
      7 months ago

      No.

      Rent will be a bit higher than comparable mortgage payment.

      A mortgage payment actually ends one day.

      If you move out, you get to sell your house and get a lot of money “back” compared to renting, maybe more than you put in even.

      Even without selling, you have “equity” you can leverage to have secured debt at very attractive rates.