Here’s Why Rich People Take out Mortgages on Their Homes — Even Though They Don’t Need to

<p>The first thing the bank is going to do is deem you a safe bet, the safest of safe bets. As a result, they are going to offer you a ridiculously good interest rate. This interest rate will probably be so good that over the course of the mortgage, you will pay a rate that will be below the rate of inflation.</p> <p>This really matters.</p> <p>To understand why, let&rsquo;s say that the bank offers you a 25-year mortgage.&nbsp;Let&rsquo;s say that as part of this, they request a 10 percent deposit. That means that the loan will be worth 9 million.</p> <p><a href="https://medium.com/the-knowledge-of-everything/heres-why-rich-people-take-out-mortgages-on-their-homes-even-though-they-don-t-need-to-7655bf28d6f7"><strong>Read More</strong></a></p>
Tags: Mortgages