Wonton Wealth: Insights into Commercial Real Estate Investing & Beyond

What Is A Mortgage?

Listen

Description

A mortgage is a long-term loan that allows individuals to buy property by promising to pay back the bank over time. Mortgages make property ownership a reality for those who don't have the cash upfront. There are different types of mortgages, including fixed-rate mortgages, adjustable-rate mortgages (ARMs), and interest-only mortgages. In the residential space, mortgages typically have longer terms, while in the commercial realm, the terms are usually shorter. It's important to be mindful of the terms and potential changes in interest rates when taking out a mortgage.

Takeaways

  1. A mortgage is a long-term loan that allows individuals to buy property by promising to pay back the bank over time.
  2. Mortgages make property ownership a reality for those who don't have the cash upfront.
  3. There are different types of mortgages, including fixed-rate mortgages, adjustable-rate mortgages (ARMs), and interest-only mortgages.
  4. In the residential space, mortgages typically have longer terms, while in the commercial realm, the terms are usually shorter.
  5. It's important to be mindful of the terms and potential changes in interest rates when taking out a mortgage.

Chapters

00:00 Demystifying Mortgages: Understanding the Basics

02:01 Unlocking Property Ownership: The Role of Mortgages

03:12 Navigating Mortgage Options: Exploring Fixed, Adjustable, and Interest-Only Mortgages

🔋 Support My Channel 🔋

Bitcoin: bc1pe8ejjypqem83tupwurs68jlchwsh0889mfjgpxss7xentgcfwkpstv5y2h

Sats via Strike: https://strike.me/tanh

Dollars via Paypal: https://www.paypal.com/paypalme/tanht

Dollars via Venmo: https://account.venmo.com/u/tanh-truong

🌍 Website: https://www.wontonwealth.com

✖️ X: http://www.x.com/tanhtruong

📷 IG: http://www.instagram.com/pro_tanh

🤓 LinkedIn: http://www.linkedin.com/in/tanh-truong-30a18ab0/

❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by Wonton Wealth. Written permission must be granted before syndication or rebroadcasting.