The Right Mortgage for Every Lifestyle
Who has the cash to buy a house in full?
Hardly anyone. And that's why mortgages play such an important role in making homeownership a more attainable dream for more people.
But that's not how many consumers looked at mortgages in the heat of the housing bubble. Too many consumers started to think of mortgages as just another form of investment, and like any investment, were disappointed when they the housing market took a tumble. Homes might have become more affordable, but too many consumers failed to look at the total costs of homeownership over the long term
Fast-forward to the present, it's a more realistic home-finance era. Today many real estate brokers are not only advising on how to make a home more affordable, but how to think about your lifestyle, your financial expectations, and how you can expect your family to grow over the time you live in your new home. Will you be having children soon and need more space in five years? Have you relocated frequently for your career? What if you lost your job? Could you hang onto your home?
With that in mind, we've come up with some thoughts about which mortgage products are right for different lifestyles.