How should we prepare? Before buying your dream home

1. Know the information:
Choose a house that suits your repayment capacity:
First of all, we should have money saved before making a down payment on a house, at least 20%, and of course, the monthly payment should not be more than 1/3 of income. Otherwise, paying installments may cause a nightmare before getting a house.
Compare information from different banks:
Different banks have different promotions. Therefore, try asking for information on interest rates, loan amounts, and various conditions to compare first to see which bank is suitable to provide the most benefit to our financial plan.
Prepare documents: When applying for a home loan from the bank, The bank must bring personal information documents, income, debt repayment history, and various collateral information. We go into the calculation to consider the loan amount and the ability to pay back the debt. If we’re ready for a home loan, it’s no longer difficult.

2. Know the amount of debt:
We need to know how much our monthly home payment is divided into principal and interest. Importantly, we need to know the payment date and must pay in time. Our payment history will be clean.

3. Know about insurance:
Many people may think that it’s okay. But what if an unexpected accident causes damage to the house? Insurance is the thing that can help ease our burden. where we can choose our own insurance company It has nothing to do with the bank.

4. Know the consequences if you can’t pay the installments:
We need to know that if a debt default occurs, what expenses will be incurred, such as late fees? Increased interest rates as well as the length of time the contract can be canceled Including claims for damages from the lender bank. By expenses These must be charged no more than what is required by law.