Why Approach a Mortgage Loan Company if You can Pay Cash?

Not many people have hundreds of thousands of dollars just lying around to buy a home with cash, but even if they do have access to such amount of cash, they prefer to approach a mortgage loan company and get their homes financed. Don’t believe us? Here is a fun fact – Facebook founder and CEO Mark Zuckerberg also has a mortgage loan of $5.95 million on his Palo Alto, California estate.

You might be wondering that why would a billionaire like Zuckerberg will go to a mortgage lending company to take a mortgage when he can just pay cash for his house. Well, apart from financial flexibility, here are a couple of reasons why taking a mortgage makes more sense than paying cash for your home.

     Inexpensive Financing: Mortgage rates are at an all time low currently. As of 30^th August 2016, you can easily get a fixed rate mortgage at an interest rate of less than 3.5%.

     Financial Flexibility: If you are planning to buy a home with cash then it is safe to assume that you have done extremely well for yourself and can easily pay $300,000 for a house. However, doesn’t it make more sense to keep that money with you to do as you please instead of tying it down in the house? If you take a mortgage, you can do whatever you do with the money while still making the mortgage payments.

    Tax Deductions: This is common knowledge that mortgage payments are tax deductible. With a mortgage loan, you’ll be able to deduct your interest payments from your taxes.

For best rates on home mortgage loans, contact All Western Mortgage today. All Western Mortgage is a pool of best online mortgage lenders that has been helping people buy their dream homes since 1981. Call us on 702-850-2790 or visit http://www.awmlending.com/