01 Jan Holly Walther Lending Team Fun Fact Friday Buying Versus Lending
Holly: Hey guys, it’s Holly and little miss Daisy. And we are here with this week’s Fun Fact Friday. So guys, I was thinking the other day. You know, being in the mortgage business for over 23 years, I always take for granted that so many people already know what a mortgage is and the benefits of a mortgage. Over the next few Fridays, we thought we would do a series on why you should buy versus renting.
So, our first fun fact Friday is do you know, each month, when you are making that rental payment, you are paying your landlord’s mortgage, or if they don’t have a mortgage, you are assisting them in building well, how are you doing that? You’re making their mortgage payment and you’re helping them build equity in that property. So that means each month you pay them rent, they’re paying a mortgage, or maybe they don’t have a mortgage, but their mortgage or their loan amount is going down. Their equity is going up. So you are essentially making them rich.
Continue to tune in over the next few weeks, we will be giving you more tips on why you should be a home owner versus making your landlord rich. Have a great weekend, and happy holidays!