Who Should Take Out a Mortgage?
Option One Mortgage encourages consumers to pursue their
goal of homeownership. It is not difficult to understand how
owning your home as opposed to renting makes a big difference
in your family’s future financial health.
Think of the “balance sheet” of your family’s
budget. By turning the liability of renting into the asset
of owning, you turn a negative into a positive. Also, if you
choose your new home carefully, perhaps with the help of an
experienced real estate agent, its market value is likely
to appreciate over the years, making homeownership an excellent
investment both financially and in the quality of your family’s
Many people who are currently renting an apartment are taken
aback to learn that the expense of rent and the amount of
the monthly payment they would be required to make on a mortgage
loan are often quite similar.
You can get a rough comparison of the two scenarios by using
an online mortgage calculator. Your favorite online search
engine is a good source for finding one to use. The mortgage
calculator will give you a rough estimate of what your monthly
payment on a mortgage loan would be depending on how much
you plan to borrow, how long you plan to take to pay it back,
and what interest rate the loan will carry.
The results might surprise you – you are closer to
homeownership than you might think. Option One Mortgage wants
to give consumers the opportunity to make their money work
for them. Taking out a mortgage loan instead of renting just
makes sense. Let Option One Mortgage show you how to make