Thelma O'Reilly: Understand THIS before you get a Mortgage

Описание: Most people think a mortgage is just a loan to buy a house — simple, right? Not quite. A mortgage is one of the biggest financial decisions you’ll ever make, and the type you choose can affect your life for decades.

There’s no one-size-fits-all option. Fixed-rate mortgages give you predictable payments, but you might miss out if interest rates drop. Variable rates can start low but may rise over time. Then there are interest-only mortgages — lower monthly payments at first, but a larger balance later. Each type has pros, cons, and risks depending on your income, lifestyle, and long-term goals.

So, before signing anything, ask yourself: How long do I plan to stay in this home? Can I handle rising payments if rates change? Do I need flexibility or stability? Don’t just follow what the bank says — understand what you need.

A mortgage should fit your life, not the other way around. Get advice, do your homework, and don’t be rushed. You’re not just buying a house — you’re locking into a financial partnership. Choose wisely.

Let’s break it down together.
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