Questions to consider while taking a Mortgage

Taking a mortgage is one of the biggest financial commitments you would make in your life. While you would largely be focused on securing the home finance and concerned mainly on the amount you can borrow, you should be clear on all the mortgage options available and the various types of home mortgages. Therefore, it is critical for you to know the key questions to ask before taking the plunge.

Below is a list of basic questions you should ask when taking out a home loan:

1. How much can I borrow and how does the bank calculate this amount?
2. What is the mortgage loan down payment requirement?
3. Is there a minimum threshold that I have to adhere to?
4. What is the down payment amount I need to make?
5. What is the lowest home loan interest rate currently available in the market?
6. For how many years can I avail the loan?
7. What are the current mortgage rates?
8. Can I prepay the loan and what are the pre-payment fees?
9. What other fees and charges I should be aware of?
10. Are life and property insurance mandatory?

Our role as professional mortgage advisors is to take all your stress away by guiding you through all the mortgage requirements, clarifying all doubts you may have, clearing any misconceptions and making you feel confident about all aspects of the mortgage process.

At Windsor Premier Mortgage Team, we put our financial expertise, market knowledge and professional advice into your service. We believe that you deserve to benefit from the best offer when it comes to your mortgage, with terms that suit your specific needs perfectly.