6 Benefits of Getting a Mortgage

Lien has found her dream property; however, she lacks adequate funds to buy the property. Her bank came to her rescue by offering her a mortgage loan, which falls under the category of secured loans. This means that Lien’s property now serves as collateral to secure the mortgage loan, and the bank will have the rights to the property till Lien repays the loan in full. Since mortgage loans have a lower lending risk due to the presence of the collateral, lenders usually charge a lower rate of interest on them in comparison to unsecured loans. The repayment of mortgage loans is usually fully amortized and can be done via Equated Monthly Installments (EMIs) for a fixed period.

Benefits of Getting a Mortgage

Here are 6 primary benefits that you can look forward to when you take on a mortgage loan:

Purchase a property without cash

Purchasing a property requires a considerable amount of cash you may not have on hand. With a mortgage loan, you can purchase your desired property without forking out cash by pledging your property as collateral.

Build equity on purchased property

The value of the property you purchase by taking a mortgage loan will continue to increase over time, enabling you to build equity and make a profit on the purchase. You may even opt to refinance the property when interest rates are low in the future.

Continue using the property

Mortgaging a property does not end your ownership of the property, provided you continue to pay the EMIs on time. However, the bank may have certain rights on the property, and in case of default (failure to pay EMIs on time), the bank may take over the mortgaged property and recover the outstanding loan amount.

Interest paid may be eligible for tax deductions

The interest paid on the mortgage loan may be eligible for a tax deduction, which you may claim every year when you file your taxes.

High loan amount

You may be eligible for a mortgage loan of up to 90% of the property value at attractive interest rates, allowing you to own your dream home while significantly reducing your downpayment.


Mortgage loans have a long tenure, typically at least 15-20 years, so you may conveniently repay the borrowed amount with lower EMIs.

Final Thoughts

When you apply for a mortgage loan , the bank typically considers both your and your spouse’s income, age, and the value of the property to be mortgaged. If you intend to own a property by taking a mortgage loan, compare different mortgage options, look around for the best offers and familiarize yourself with the terms and conditions before you take the plunge.

Notice: Opinions, analyses, reviews, or recommendations expressed in this article are those of the select editorial staff alone and have not been reviewed, approved, or otherwise endorsed by any third party.

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Sonakshi Murze

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All Assembled, LLC

 “Times change and the ways to market or reach clients,” says Adam Tate, Owner of All Assembled, LLC which is a local handyman / furniture assembly business located in Hillsdale, New Jersey. For over 17 years, this business has expanded and contracted in size and scope due to changes in the economy and client need. It has weathered the Housing Bubble, the Great Recession, Super Storm Sandy, the COVID pandemic, the Great Resignation and now the Great Inflation and has managed to stay on top.

“We are focusing on the basics, what really made us stand out and providing exceptional, targeted services,” says Tate. The services he is referring to are Furniture Assembly, Elfa Shelving Installation and IKEA Kitchen Installation. “I get contacted to provide all kinds of handyman services and we can do them, but that is not really our niche. We want to focus on the things we do right and well. I love building IKEA and have probably built the entire catalog several times now. We must become more strategic and only accept jobs we feel confident in doing and in locations we feel comfortable visiting.”

Tate says he gets great pleasure out of helping people save their weekend from furniture assembly doom. “I show up and get right to work. I ask where the boxes are and get it done, clean, organized and quickly! Seeing peoples eyes grow wide when I am half way or done as soon as they return to the room gives me great pleasure. I know that the client is amazed and just saved themselves hours of frustration. I have all the tools and get it done fast and reasonably.”

As of recent, All Assembled has been collaborating with local home organizers in North Jersey to provide furniture storage and shelving installation services to enhance the speed in which these organizers can complete their jobs and offerings to their clients. “It is a win, win scenario! The organizer does not have to focus on another task of building or installing some product they are not familiar with, do not have the time to tackle and they get their project done fast. The home owner benefits from having a qualified contractor do the work and I win because I have a qualified client and receive residual work from that client.”

To learn more, please find them at https://goo.gl/maps/iE12zeBLvZ4PKMaPA.

All Assembled

17 Riverdale Street

Hillsdale, NJ 07642

(201) 960-5489

All Assembled

Adam Tate





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The Secret of Getting Fit After 40 with CollageVideo.TV

 Getting in shape after 40 reflects two main things: exercise and mindset. Life happens, and as we grow older, it is key to start a daily regimen to improve and protect your health. By adopting a healthy lifestyle and giving yourself time to exercise, you can turn back the clock and transform your body in ways you never imagined.

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Nisreen Damatti

(201) 488-6110 ext. 215




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