Mortgaging your home to own it

Most people want to own their own home. To do that, you need that sum of money to invest in. Investing in a home is the largest investment they make. But many people who want to own their own home do not have that initial sum of money to invest. In order to get that sum, one has to save money and wait till that sum is available. But how long does one have to wait? And besides, keeping money for a long time is a bit insecure.

There is a better alternative- mortgaging. A home buyer or builder can obtain a loan from a financial institution to purchase a home, using that very home for security. Some people, especially banks use the term ‘house loan’ which is the same as mortgaging. The main difference between paying off the loan and paying rent is that the home is yours if you mortgage it. Whereas, the home you live in will be the house-owner’s and not yours in the latter situation. Hence it is always better to own your own home.

It is important however, to make sure that you have found the ideal home to buy and live in, as buying the wrong home is a costly mistake. For this, there are helpful realty agents available to guide you through finding the right home and finalizing the deal. They even help you securing the house loan. For example, the Santa Clara County in California has some excellent communities that make a wonderful atmosphere and place to live. Dale Warfel of Keller Williams Realty is a realtor in San Jose who specializes in homes for sale in Santa Clara county. He also has helped people securing loans with the right interest rates- not more than 6%, in relation to the present economical status. So if you are looking for Almaden Valley homes for sale or Los Gatos homes for sale or homes in any one of the beautiful communities of San Jose, you could approach Dale Warfel.