how long time can you do repayment for a apartment?
@shangdinizaina (47)
China
1 response
@kykidd (6812)
• United States
6 Jun 10
If mortgages on apartments are the same as the mortgages on houses, then the answer would be 30 years maximum. Usually, in the United States, most people buy houses. It is only in the big, congested, cities, like Chicago or New York City that apartments are for sale. So I would presume that an apartment would be the same as a house in other cities and states.
However, most other parts of the United States people buy whole houses. Sometimes, like me, they buy a house that house multiple apartments. But the houses also are sat on a piece of land. So, you usually have a yard and the house.
Apartments, on the other hand, are usually rented instead of purchased. The owner of the property usually rents them, or leases them, to tenants for a monthly payment. You may need to sign a lease in order to live in the apartment. The typical term is one year. You agree that you will pay the owner of the property a certain amount of money each month for a term of one year, for example, and then after the year you will both decide if you will continue to live in the aparment.
I hope that this information is helpful to you shang. Have a great day!