Fees that are paid at the closing of a real estate transaction. This point in time called the closing is when the title to the property is conveyed to the buyer. Closing costs are incurred by either the buyer or the seller.
A mortgage is a loan in which property or real estate is used as collateral. The borrower enters into an agreement with the lender (usually a bank) wherein the borrower receives cash upfront then makes payments over a set time span until he pays back the lender in full.
BUY vs. RENT
More fixed costs for term lease
Not gaining equity
Not losing equity
Equity may go up, down, or stay tangent
When lease is up- move