Housing loans: What do you need to know?

A housing loan is one of the largest personal loans that a person can take, often stretching over many years.

Because it is such a large financial commitment, it is important that you understand all the different factors involved before taking the leap.

In this video, we teach you about what you should consider before taking a home loan. What is your budget? Are you buying a completed house or is it still under construction? What are the different types of loans available? What other hidden costs are there?

You will also learn about fixed rate and variable rate loans, and the different payment plans available such as graduated and partial prepayments.

If you decide to take a housing loan, be sure to understand all the aspects of this large financial commitment.