Why do people in US go for mortgages?

Hi Venkatesh,

Having mortgage in US is quite common like other countries. And for US, I don't think we have any specific benefits to have it that others are not. Yeah, it may due to difference in government policies you may trace out some pros and cons of having mortgage in US. Otherwise, it helps us to build our home; even we don't have enough cash at the time of home purchase.

Hello Venkatesh,

In U.S many people apply for home mortgage as this opens the opportunity to own the house even if they have not enough money to pay the house in full. And there is no particular benefit from the Government on having a mortgage.

Hey Guys,

Thanks for the informaiton. I would be greatful.

Hello Venkatesh,

Welcome back to the forum.

It's great to feel that you have been benefitted from the community. If you have some further queries, please feel free to ask as the community will help you to find a solution.

Mortgage helps to get financial help by keeping the house as collateral for the loan. It has proved to be one of the popular sources of financing in the country allowing people to take large amounts as loans to meet their personal finance needs.

mortgage is one way of getting support for your financial needs. It affords people of owning a home without capital outlay.


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