Information in simple English

Buying house, Cash vs mortgage

Buying a house is as easy as it looks. Before buying a house, one thinks either he/she should purchase, it will cash or should take a mortgage loan. Both have different benefits. Just have a look at it before buying your dream house.


Buying a house with cash

  • Don't have to pay mortgage interest
  • Lower closing cost
  • Faster and easy closing


Buying a house with a mortgage

  • A large sum of money is used to buy a house, so it cannot be used for some other purpose.
  • Money invested in a house is not hard cash, in case of emergency one cannot sell and get cash as fast as compared to if he/she has that money in a saving account.