What ever we do in our life always has two sides or two parts same as Coin, In that one side may be helpful or beneficial for us and at the other hand another side may be useless or harmful for us.
Whatever is done by us for good result it may have (I think must have) bad impact also, either at present or in future.

If some one is dreaming for his/her Dream House or any Dream Properties, and not having enough cash, Then it is possible or quite simple to make their Dream come true by using “Mortgage Home Loan”.
By using the services of mortgage loan anybody, who is able to pay money can apply for the Mortgage Loan. In that you no need to invest lots of money, You can return money by easy Installments.
So If we see at this side, there are so many advantages of mortgage loan. But same as Universal Rules as I told in first paragraph, Is there any disadvantage of Mortgage Loan? List the both advantages and disadvantages of Mortgage Loan.

Thanks.

Hi,
Benefits: your payments do not change, so you don't have to worry about what the future may bring.
Downside: you will not get any savings when rates decline.

Best plan: if you don't expect to have the house longer than say 5 years, get the variable/interest mortgage.


Thanks!!!

Mark,
You are right and there is not doubt that consumer loans was the reason of high consumption level in UK and USA but on the same side, it is the main reason of default and stress. All depend how well and appropriate you utilize your sources.

oh great information, can anybody suggest more advantages and disadvantages of mortgage loan and suggest that how can we prevent its disadvantages.
Thanks.

(07-17-2010 11:28 PM)hardik soni Wrote:  oh great information, can anybody suggest more advantages and disadvantages of mortgage loan and suggest that how can we prevent its disadvantages.
Thanks.

Yeah,I can suggest you a bit about Fha loans.The Federal Housing Administration, generally known as "FHA", provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories.FHA loans are available to anybody but are used most often by first-time home buyers and low- to moderate-income buyers.

Quote:By using the services of mortgage loan anybody, who is able to pay money can apply for the Mortgage Loan. In that you no need to invest lots of money, You can return money by easy Installments.

Getting a mortgage these days is NOT just a matter of being able to pay. Generally, you now need to have good credit and be able to put at least 10% down... many lenders requiring 15-20% down.

The exception is an FHA loan which still allows 95-97% financing and accepts people with less than perfect credit. But then there are FHA loan limits that apply which differ by the state/county where the property resides.