Should You Buy a House with Cash or Get a Mortgage?
Should You Buy a House with Cash or a Mortgage When buying a residential property for personal or business use, mortgages are the go-to solution for families and entrepreneurs. The reasons for obtaining a mortgage are fairly obvious: it lets you purchase a home without having the entire amount of money on hand, and it allows investors to capitalize on a property without spending the full amount up-front. There are even more reasons to buy a home with a mortgage, but there’s a growing trend among homebuyers in the United States to buy using cash. Which is the better option? It depends on your circumstances. Mortgages versus Cash Purchases All-cash home purchase rates have skyrocketed in the U.S. over the last couple of years. According to data compiled by RealtyTrac, 38.1 percent of residential properties in the United .... Read More