{"id":1989,"date":"2017-10-30T10:00:13","date_gmt":"2017-10-30T10:00:13","guid":{"rendered":"https:\/\/thezakariagroup.com\/renting-or-buyingeither-way-youre-paying-someones-mortgage\/"},"modified":"2017-10-30T10:00:13","modified_gmt":"2017-10-30T10:00:13","slug":"renting-or-buyingeither-way-youre-paying-someones-mortgage","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/renting-or-buyingeither-way-youre-paying-someones-mortgage\/","title":{"rendered":"Renting or Buying\u2026Either Way, You\u2019re Paying Someone\u2019s Mortgage"},"content":{"rendered":"
\n

\"Renting<\/p>\n

There are some people who have not purchased homes yet because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage \u2013\u00a0either yours or your landlord\u2019s.<\/em><\/span><\/p>\n

As\u00a0Entrepreneur Magazine,\u00a0<\/em>a premier source for small business,\u00a0explained<\/a> in their article, \u201c12 Practical Steps to Getting Rich,\u201d<\/em><\/p>\n

\n

\u201cWhile renting on a temporary basis isn\u2019t terrible, you should most certainly own the roof over your head if you\u2019re serious about your finances. It won\u2019t make you rich overnight, but\u00a0by renting, you\u2019re paying someone else\u2019s mortgage. In effect, you\u2019re making someone else rich.\u201d<\/strong><\/em><\/p>\n<\/blockquote>\n

Christina Boyle, Senior Vice President<\/em> and head of the Single-Family Sales & Relationship Management<\/em> organization\u00a0at\u00a0Freddie Mac,\u00a0<\/em>explains another benefit of securing a mortgage vs. paying rent:<\/p>\n

\n

\u201cWith a 30-year fixed rate mortgage, you\u2019ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years \u2013 unlike rents which will continue to rise over the next three decades.\u201d<\/em><\/p>\n<\/blockquote>\n

As an owner, your mortgage payment is a form of\u00a0\u2018forced savings\u2019\u00a0<\/em>which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person with that equity.<\/p>\n

Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home.\u00a0Freddie Mac\u2019s<\/em><\/a> latest report shows that rates across the country were at 3.94% last week.<\/p>\n

Bottom Line<\/strong><\/h3>\n

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.<\/p>\n<\/div>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

There are some people who have not purchased homes yet because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage \u2013\u00a0either yours or your landlord\u2019s. As\u00a0Entrepreneur Magazine,\u00a0a premier source for small business,\u00a0explained in their article, \u201c12 Practical […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[98,99,104,101,111],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nRenting or Buying\u2026Either Way, You\u2019re Paying Someone\u2019s Mortgage - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/renting-or-buyingeither-way-youre-paying-someones-mortgage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Renting or Buying\u2026Either Way, You\u2019re Paying Someone\u2019s Mortgage - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"There are some people who have not purchased homes yet because they are uncomfortable taking on the obligation of a mortgage. 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