Finance > Insurance > Home InsuranceFind an Affordable Home Loan Package by Comparing Online Posted by Mawazna in Finance on June 28th Nike Air Max 97 Silver Bullet Pas Cher , 2017
The road to owning your own home isn’t an easy one – the buyer has countless decisions to make and even more mistakes to avoid or else, their hard-earned money would be simply wasted on a worthless asset. The task of choosing the right property to buy is one thing – you also need to figure out the proper way to manage the finances pertaining to this purchase. For most buyers, taking a home loan is the only way they can manage a purchase this humungous in nature and size. And when it comes to home loans, affordability happens to be the most important factor to consider. In this article, you will find tips and guidance on finding affordable home loan packages by online comparison.
Compare home loan packages - Why?
Consider the market scenario – how many banks and financial institutions are currently offering home loans? Now consider the different home loan products that each bank is offering. Do you think it is wise to simply apply for a home loan with your current bank and ignore the many options that are available out there? This is your hard-earned money at stake here and finding the best deal in the market will only be a thing of prudence. Thankfully, the option of online comparison will make the task easier for you – giving you a one stop solution for all the information you might need to make this decision. Using reliable online comparison websites can let you analyse and evaluate different home loan products and choose the one that best suits your needs and budget.
Compare home loan packages – How?
With affordability being the most important priority in mind, there are many factors on which you should evaluate each home loan package that is available in the market through easy online comparisons. Here is a list that you can follow for your purposes:
# Interest Rates: The most bothersome factor of any home loan product is the interest rate charged by the bank. Different banks fix different interest rates for different products they offer. This will turn out to be the biggest financial outlay, second only to the principle amount of your loan and therefore, choosing a lower-interest-rate-home-loan will have a substantial positive effect on the affordability of your purchase.
# Type of interest: Home loan products can be subject to different types of interest rates – fixed and floating. The fixed rate category will carry the same interest percentage throughout the tenure of the loan while the floating rate alternative will change as per specified economic factors. Your choice here will depend on prevalent and projected market movements and your own risk taking ability. Choose wisely.
# Applicable charges: Every bank levies different kinds of charges, fees and costs on the loan amount for the service they are offering. From loan processing fees to customer credit evaluation charges, annual service costs to early repayment penalties – banks have the right to decide and charge a host of different payments from their borrowers and these additional costs can prove to be a significant burden on your pocket. This is another factor to look out for when judging the affordability of your loan.
These three are the most important factors that will determine the affordability of a home loan package. Use online comparison websites like Mawazna to evaluate different product and banks on the basis of the above.
About the Author
Mawazna is a rapidly growing financial services & products comparison platform based in Pakistan. The platform is owned and operated by ‘Finovators Digital Pvt Ltd’ – a team of highly experienced financial services industry and business experts. Mawazna provides a digital comparison facility to its customers enabling them to compare all the retail banking (car loans, personal loans, home loans, credit cards and bank accounts) and insurance products such as car insurance, travel insurance and health insurance.
"
JOHANNESBURG, May 28 (Xinhua) -- South Africa's Sports and Recreation Minister Fikile Mbalula on Thursday dismissed allegations that the government paid bribes to host the Soccer World Cup 2010.
This came after South Africa has been sucked in the FIFA scandal which led to the arrest of seven people in Switzerland on Wednesday.
It had been alleged that South Africa paid 120 million rand (about 10 million US dollars) in kickbacks for hosting the event.
Mbalula said his department is yet to receive a copy of the allegations from the United States and promised to do everything in its powers to unearth any shenanigans.
""South Africa's Department of Sports and Recreation hereby indicates that all funding by government was transferred via the National Treasury to the national Department of Sports and Recreation and that no such amount was paid by the department Sport and Recreation and the government of SA to any individual,"" he said.
""Our financial records and books for the 20102011 financial year for the period of the 2010 World Cup have been audited by the Auditor General of SA and no such amount has been found in our books,"" he told reporters in Johannesburg on Thursday.
When contacted for comment by Xinhua, the South African Football Association' s (SAFA's) spokesperson Dominic Chimhavi declined to say further rather than saying: ""I' m not aware of anybody being investigated at the association"" .
All financial records were audited and there is no record of fraudulent payments for the 2010 FIFA World Cup, Mbalula said.