Why should I offer my house as collateral?

Because the lender will offer you a much better rate on your loan if he has the strong collateral of the house to fall back on. If you could qualify at all for a personal loan to buy a house, it would likely be short term and carry a high interest rate. In contrast, mortgage loans are among the most attractive loans available for any purpose, and typically have extremely low interest rates when compared to other forms of financing.

 

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