| A life time investment | | | | advance payment. It is usual that you may have an |
| Taking out a home mortgage loan is a life time | | | | expected opportunity to make a lot of money in the |
| investment. You therefore have to show a lot of | | | | future. If you decide to use this to settle your debt, |
| caution when making a decision. This is because a | | | | there may be certain charges tied to this. It is good to |
| wrong step might haunt your financial life throughout | | | | know what and how much it entails. |
| the rest of your life. Carry out a detailed research and | | | | Also inquire if there is a possibility of you changing |
| get advice wherever things are not clear to you. You | | | | from one regime to the other in future. Your financial |
| have a duty of care to give yourself the best deal. | | | | situation might change. It therefore becomes imminent |
| Do you qualify for a home mortgage loan? | | | | that you will have to make an adjustment. This should |
| This is a question that you must address to a home | | | | be clearly stated in the home mortgage loan |
| mortgage loan officer. Take note that his answer will | | | | agreement. Avoid letting the lender coercing you into a |
| be dependent on your cooperation with the loan | | | | deal. |
| officer. Therefore you must be able to relate a | | | | Be prepared to sign the home mortgage loan |
| genuine account of your credit history to him. A good | | | | A home mortgage loan is always an exciting event to |
| credit history will convince him to give you a home | | | | a potential mortgagee. Most of them will always be |
| mortgage loan. But when your credits history proves | | | | excited about getting the loan. They will therefore be |
| bad, do not hide it from him. There are mortgage | | | | prepared to sign anything once the loan is approved. |
| arrangements for those with good credit as well as to | | | | Have you thought of going through everything in print |
| those with bad credit history. | | | | before you sign the paper? Keep in mind the some |
| What are your financial liabilities? | | | | unscrupulous lenders may exploit your excitement. |
| This question should be asked to be on familiar terms | | | | Take the pain of getting to understand every single |
| with the accurate cost of the home mortgage loan. | | | | phrase. Never sign a document with blank spaces. If |
| Make sure that the document states a precise amount | | | | you are not in possession of every credential, waiting |
| of payment and a precise period for payment. Inquire | | | | until everything is available. |
| what provisions, if any, are applicable in case of an | | | | |