If you have made the decision to buy a residential property this is probably one of your biggest lifetime decisions. This also means that you will need to look at the amount of money you’ll need to pay as monthly repayments for the duration of your loan, which could last as long as 25 years. You will need to examine your home loan choices very carefully.
1. Be sure to compare the various rates that are available. Different financial institutions will have competing interest rates. You may discover that bank A offers much better rates of interest on a home loan for a 15 year term while bank B may offer better rates if you obtain a mortgage for 25 years. You should analyze your ability to make payments on a home loan and search for the lender with the
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