Can I Buy a House for Three Years?
Mortgage House offers an array of mortgage products. Among them are the Affordable First Home Buyer Special, Advantage Investment Standard Home Loan 90, and Advantage 3 Years Fixed.
Several Mortgage House home loans include introductory rates, discounted rates, and introductory terms. For example, homebuyers can enjoy an interest-only mortgage. It provides one to five years of interest-only repayments. This structure provides a monthly savings of $100 to $500.
Investors who seek to buy a house for three years can with low overhead. If they opt for the interest-only home loan, it lowers the upfront costs. Investors require time to find a tenant or renovate a property. During this period, the property produces no income. Thus, they maintain a limited budget.
Some homebuyers don’t intend to purchase a home for only three years. They aim to live there at least 10. Sometimes the economy makes decisions for homeowners. If the labor market shifts or an opportunity comes up, homeowners have to make choices.
Owner-occupiers don’t build enough home equity in a property over three years. Industry insiders believe that it takes five to build meaningful equity. Nonetheless, things happen. If you can only own your home for three years, Mortgage House helps you make your next financial move.
Check out our Mortgage House mortgage repayment calculator.
Purchase a House for Three Years Conclusion
It’s possible to purchase a house for three years. Investors do this on purpose. Some homeowners find out that they must relocate. Mortgage House works with homeowners and investors. Contact our lending team to start your financial journey.