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Updated: 2/14/2020
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  • You have to pay a mortgage when you rent a home, but don't when buying.
  • When renting a house, your landlord will ask you to make a security deposit, also known as a down payment.
  • When you rent out a home, you will have to pay a monthly payment, unlike buying, when you pay it all at once.
  • A landlord is a person who rents houses to tenants, you only have one if you rent, not buy.
  • Home equity is the market value of interest in a person's home, and is basically like second mortgage.
  • A lease is a contract where you covey a something, like a house, for a set period of time, this goes with renting.
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