Mortgage Loan

Beginners’ tutorial to home loans – MoneyWeek expense tutorials





A house house loan is the most significant personal debt most of us will ever acquire on. So choosing the ideal 1 is vitally important. Tim Bennett points out the principles of home loans and highlights the most important pitfalls to stay away from.

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34 comments

  1. Read these scenarios if you want to understand what's really going on:
    1. Wealthy person buys $300,000 home with cash. 20 years later sells the home for $600,000. Profit: $300,000 (minus home ownership expenses)
    2. Middle class person who can't afford to pay $300,000 cash for a home (99.99999% of the middle class) gets a mortgage from the bank aka wealthy people. 20 years later middle class person sells the home for $600,000 but ended up paying the bank $600,000 over the course of the mortgage. Profit to middle class person: $0. (You might consider that free rent for 20 years, but that's in a perfect world. That's also a 20 year struggle to make the monthly payments and if most of your money over the course of those 20 years goes towards home payments, then by the end you are technically considered worthless despite the fact that you own a home. Regardless, you earn nothing) Profit to bank aka wealthy people: $300,000.
    3. Lower class person rents a home or apartment valued at $300,000, which is owned by a wealthy person who paid cash for it, for $1000/month for 20 years. After 20 years wealthy person sells home for $600,000. Profit to lower class person: -$240,000 (that's negative $240,000 to clarify). Profit to wealthy person: $540,000.
    Conclusion: If you can't pay cash for a home, or anything for that matter, then you are getting screwed no matter what. Your nothing unless you own something. Having a roof over your head is one of the most important factors of life. This is why certain groups of the wealthy make it one of the most controlled, manipulated, and hard to obtain objects. This is a huge factor for how the rich get richer. By holding down everyone else by using everyone else as a means to make them richer. Do you see the cycle? Not all wealthy are to blame entirely for intentionally and directly doing this just because they're wealthy, it's how the system works. But since the system was developed by wealthy people for wealthy people, well….you get the point. Now wake up people.

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  2. Anyone who talks with their hands as much as their mouth automatically has my undivided attention. Excellent video!

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  3. You're a really good teacher, definitely would have listened to you at school if they taught this!

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  4. So let's say you've gotten the 125% ltv like he says. What's keeping you from making 25 grand let's say… Invest 100k so it doesn't look fishy, let them take it and keep the 25k. Free 25k anyone? xD

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  5. great info and well presented

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  6. great class!

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  7. You're a wonderful teacher!

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  8. Thank you

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  9. Thank you so much ! Keep making such videos. Put some Aads i will click one everyday.Very good Video.

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  10. Really helpful video. Thank you for sharing.

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  11. Thanks for that

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  12. can anyone tell me where to find a mortgage if I want to put my existing home as a deposit without paying any money upfront? And what is the term for that sort of morgage, coz I can't find it on the net?

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  13. Hello, thank you to make this possible. I am a financially uneducated person with a good graduate salary that is struggling to understand all these technicalities and you are making it easier for me.

    What is an arrangement fee that you mentioned in 11:24?

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  14. sounds like a rubik's cube nobody wants to solve because your room mates are all coming down from a night of snorting coke. a place to live shouldn't require a math degree and more planning than a mission to mars. fuck it i'm staying at my parent's house.

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  15. Thanks for making this really simple and easy to understand x

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  16. really helpful video. thanx

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  17. Thanks very much.

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  18. Excellent video

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  19. Thank you very useful!

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  20. don't get anything he's saying its too fast and annoying

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  21. thanks

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  22. Good shit. Thanks for the lesson!

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  23. Thank you

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  24. So helpful, really opened my eyes. Everyone keeps telling me to buy a house because renting is dead money, and a mortgage really isn't a big deal. Don't know what they're on about as it obviously is a massive deal, glad to have informative videos like this.

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  25. It was indeed very helpful, and it would be great if you could kindly make a part of this mortgage deal. Thanks

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  26. You've been really helpful thanks

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  27. opened my eyes, was naive to mortgage. hope can get a house soon.

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  28. do we need to buy our homes ? it's not called a 'death age ' for nothing 😂

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  29. Very good video.

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  30. I'm trying to scrape up some money for a down payment, who has 500k I can borrow?

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  31. Very helpful Tim. Thank-you very much for making this video!

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  32. why use a foreigner??

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  33. book yourself a holiday lmfao!! How?? what was the economy?

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  34. Reply

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