The benefit of homebuying vs. renting has increased! » Mortgage Masters Group

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If the rent is cheaper than the interest on the mortgage for the same property, should you rent? Asked by Jean Mckeller, Janesville, CA Mon Feb 20, 2012. What are the benefits and drawbacks of renting vs. buying if the rent is cheaper than the interest on a mortgage?

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Renting the home could enable you to hold onto it, even while you live elsewhere. You can’t afford the mortgage payment. Some individuals with high mortgage payments can rent another home for significantly less money and use the difference, along with the rent collected from the tenant, to cover the mortgage payment.

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Benefits of Buying vs. Renting a Home. Most people ask themselves this question at some point in life. Renting is often seen as a less expensive option since when renting you don’t pay a down payment, loan closing costs or home repairs. But although you might spend less out-of-pocket money renting a home, owning can be financially advantageous overtime.

These homeowners also said that they recognized the benefits of owning a home compared to renting. of Mortgage at TD Bank. "While the financial aspect remains daunting to many prospective young.

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Use the rent vs. buy calculator at realtor.com to make the right rent or buy decision. Find out which option is best for you, buying a house or renting a home.