Email Address. Phone Number. Select what you need Apply for Product Enquire about the product. Please correct the highlighted fields. Thank you for your details. We shall get back to you. Such loans can be very advantageous for first-time borrowers because only paying interest significantly decreases the monthly cost of borrowing and will allow you to qualify for a much larger loan. However, because you pay no principal during the initial period, the balance due on the loan does not change until you begin to repay the principal.
If you're looking for a home mortgage for the first time, you may find it difficult to sort through all the financing options. Take time to decide how much home you can actually afford and then finance accordingly.
If you can afford to put a substantial amount down or have enough income to create a low LTV, you will have more negotiating power with lenders and the most financing options. If you push for the largest loan, you may be offered a higher risk-adjusted rate and private mortgage insurance. Weigh the benefit of obtaining a larger loan with the risk. Interest rates typically float during the interest-only period and will often adjust in reaction to changes in market interest rates.
Also, consider the risk that your disposable income won't rise along with the possible increase in borrowing costs. A good mortgage broker or mortgage banker should be able to help steer you through all the different programs and options, but nothing will serve you better than knowing your priorities for a mortgage loan. Federal Housing Finance Agency.
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Loan Types. Available in Multiple. Take advantage of our home purchase loan to own your own property. Our mortgage deal allows you to borrow higher loan amounts and use your existing property as collateral. Get access to a loan based on the amount settled from the mortgage after 24 months. If you already own a piece of land we will finance you to build your dream home. Consolidate your mortgage facilities and enjoy the convenience of managing one view account. Show more Show less.
FAQs What is a mortgage? What is a variable interest rate? Can I make lump sum payments into my loan account? What bank charges apply when taking out a personal home loan?
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