Mortgages are considered “good debt” by lenders. Because the mortgage debt is secured by the value of your home, lenders see your ability to keep up with mortgage payments as a sign of a responsible loan. Mortgage loans are one of the safest types of loans that lending institutions can provide because the property is a guarantee that the money borrowed can be repaid if a problem arises. If you have a fixed-rate mortgage Roseville, you can roughly plan out the amount you'll be paying each month. If inflation increases, your payments stay the same. If interest rates spike, you are also protected against that. When interest rates drop, you can usually refinance to save money. Either way, your mortgage is on hold to protect you from uncertain economic times.
