My little rant on home loan
If you are in a position to purchase a property with cash and the price is reasonable in the current market, buying your home will probably trump renting. Most people, however, obtain a home mortgage to purchase a house. The expenses incurred with a home mortgage may tip the scales in favor of renting in many situations. When a consumer obtains a home mortgage, the majority of the payments each month goes toward interest. Interest does not go towards equity; it is simply money paid to the bank.