So, you’re planning on buying a house. 

Congratulations! 

You’re probably wondering what your financing options are. 

For most people, the best option is to take out a mortgage. 

But what exactly does that mean? 

A mortgage is the agreement between you and a lender, which gives the lender the right to repossess your property if you are unable to repay the borrowed amount plus interest. 

I know, right? 

Pretty heavy. 

That’s why it's essential that you take the time to get yourself the best deal possible! 

Here are a few things to look out for when taking out a mortgage:

• The size of the loan
• The interest rate
• The closing costs of the loan
• The lender's fees
• The Annual Percentage Rate (APR)
• The type of interest rate and whether it can change (fixed vs. adjustable?)
• The loan term (how long you have to repay the loan)
• Whether the loan has a prepayment penalty, a balloon clause, an interest-only feature, or negative amortization

Buying a home is a huge decision, and an even bigger commitment. 

Being educated about your decision is the first step to ensuring that you will be able to pay it off and own the house of your dreams!

We hope that you found this informative, and if you’d like to learn more about mortgages or need some guidance on getting the home you’ve always dreamed of, just reply to this email :)