Home Loan

Chapter 06

Home Loan

Factors to keep in mind before getting a home loan

1- Your income and your track record of repaying previous loans – this is obtained from the Credit Bureau.

2- Your current expenses including other loans you are servicing. The amount of loan related to the property value.

3- Ownership of the property – this means that the lending bank should be comfortable that the seller has full and complete ownership of the property.

4- Getting a loan depends on the report of the local bank surveyor who will inspect the property and give his recommendation.

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