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How To Get A Home Loan?

Do you want to buy a house? Worried about how to get a loan? This article will help you get your finances. Banks make money by lending to you at a higher level than they paid for the money. This means that they want to lend money.

There is one problem though: they make money strategy works only if you pay the money back. Most of the credit application process involves the bank to satisfy yourself you can, and will, pay them back.

You can also use home loan mortgage calculator to calculate total cost or visit

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Once you understand what this means, you only need to structure your affairs to ensure you will be 'bankable' and have your mortgage approved.

Three 'C:

• C is for Character: In bankers speak, this means: Are you a good credit history? Usually if you have not failed on any loan or payment obligations to anyone, your credit will probably be fine.

If you are not sure, obtain a copy of your credit report. This is easily done in most countries and sometimes charges a small fee.

• C is for capacity: In bankers speak this way: Can you afford the repayments? If your net income is more than all your expenses (including the new loan payment) this is a good start. Banks also use other tools including debt to income ratio.

• C is for Collateral: In bankers speak this means your mortgage. What could sell the Bank to ensure that the loan is repaid? Factors here are the appraisal (appraisal) of the house, and the amount of your deposit. Banks love 20% down.