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Not everyone can pay all cash for a home purchase.  Even if you can pay all cash, it’s not always the best route to go.  Below are the advantages and disadvantages of paying all cash versus purchasing a mortgage.

The benefits of paying all cash for your mortgage:

Disadvantages of paying all cash:

Benefits of taking out a mortgage:

Disadvantages of buying a home with a mortgage:

The best of both worlds would be to take out a mortgage, pay a bigger down payment and pay more than the minimum payment each month. This way not all your savings is put into the property in case something happens and you need the cash later.  You can always invest the cash you would have used to buy the property.

If you aren’t sure which way to go and you have a property in mind, give Sonja a call today to help with your options.  She can be reached at 661-979-9000 or by email at [email protected].

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