Looking for a home loan – where should you start?

Published in Loans

Most of us are just waiting for the day when we can finally turn our hard earned cash into real estate. But we’re also quite unprepared for the amount of sheer hard work that turning our dream into reality entails. It’s not only about finding the right property; finding the right home loan is also essential. There are dozens of products on the market and sifting through them is a tricky business.  

 

Here are 5 tips for help make finding the right mortgage for you a little less painful!

  1. Down payment – how much can you afford? Be realistic and start saving! The bigger the deposit, the better mortgage deal you’ll get and the cheaper your monthly repayments.

  1. Your credit score – how good is it? Check, check and double check! Your credit score will affect the bank’s response to your loan application, whereby you might get approval on a lower amount than needed and in some cases, you might even be refused a loan outright.

  1. Financial documents – where are they? Most of us have some papers here, some papers there but can you actually put your hand on them? If you can get your affairs in order, your loan application will be processed much more quickly.

  1. Bnooki – have you tried it? Bnooki has a range of home loan services including interest rate trackers, mortgage calculators and loan comparison tools to make searching for the perfect loan just a little bit easier.

 

In Lebanon, there are a variety of housing loans available. Check out Bnooki’s article Types of Housing Loans in Lebanon for details, but a summary is provided below:

  • Iskan loans – for Lebanese citizens, granted by banks and the government. Maximum loan amount: LBP 270 million. Repayment period: 30 years.

  • BDL subsidized loans – for residents and expats, granted by banks, lower interest rates. Maximum loan amount: unlimited. Repayment period: up to 20 years

  • Bank offers – criteria and conditions differ from bank to bank depending on who you are, your profession, the amount you need to borrow etc. 

For more information and to find the right home loan, visit Bnooki.com.

http://www.bnooki.com/forms/housing-loan-form

 

09 Dec 2014
(2 votes)
Read 3600 times
 
Looking for a home loan – where should you start?

Most of us are just waiting for the day when we can finally turn our hard earned cash into real estate. But we’re also quite unprepared for the amount of sheer hard work that turning our dream into reality entails. It’s not only about finding the right property; finding the right home loan is also essential. There are dozens of products on the market and sifting through them is a tricky business.  

 

Here are 5 tips for help make finding the right mortgage for you a little less painful!

  1. Down payment – how much can you afford? Be realistic and start saving! The bigger the deposit, the better mortgage deal you’ll get and the cheaper your monthly repayments.

  1. Your credit score – how good is it? Check, check and double check! Your credit score will affect the bank’s response to your loan application, whereby you might get approval on a lower amount than needed and in some cases, you might even be refused a loan outright.

  1. Financial documents – where are they? Most of us have some papers here, some papers there but can you actually put your hand on them? If you can get your affairs in order, your loan application will be processed much more quickly.

  1. Bnooki – have you tried it? Bnooki has a range of home loan services including interest rate trackers, mortgage calculators and loan comparison tools to make searching for the perfect loan just a little bit easier.

 

In Lebanon, there are a variety of housing loans available. Check out Bnooki’s article Types of Housing Loans in Lebanon for details, but a summary is provided below:

  • Iskan loans – for Lebanese citizens, granted by banks and the government. Maximum loan amount: LBP 270 million. Repayment period: 30 years.

  • BDL subsidized loans – for residents and expats, granted by banks, lower interest rates. Maximum loan amount: unlimited. Repayment period: up to 20 years

  • Bank offers – criteria and conditions differ from bank to bank depending on who you are, your profession, the amount you need to borrow etc. 

For more information and to find the right home loan, visit Bnooki.com.

http://www.bnooki.com/forms/housing-loan-form

 

Last modified on Thursday, 15 January 2015 08:17

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