Home Buying Advice - Stable Monthly Housing Costs
Why a fixed rate mortgage provides stable monthly housing costs.
Stable Monthly Housing Costs
When you are living in rented accommodation you can expect your rent to increase over time. If you buy your home and take out a fixed rate mortgage, you will have the same payment for the life of the morgage (with the exception of the property tax and home owners insurance portion which are usually included in your morgage payment).
How much will your rent payment be in ten or fifteen years time? Which makes more sense?Return to Home Buying Advice