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’s say that the bank offers you a 25-year mortgage. Let’s say that as part of this, they request a 10 percent deposit. That means that the loan will be worth 9 million.</p>
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