Buying a house is a life-transforming event in terms of financial and social commitments as well as status. Here's the most common questions asked by a house buyer before he/she signup for the home loan.
Questions:
1. How much is the cost to buy a property?
2. How much can I afford?
3. How much can I borrow?
4. Margin of Financing
5. Loan Tenure and Features
6. How long does it take to process a loan?
7. What is the difference between conventional financing and Islamic financing?
8. Why do I need a valuation?
9. Do I need to appoint a lawyer? Can I choose my own lawyer?
10. Who pays for the legal fees and how much?
11. What if I run into financial difficulties and cannot meet my loan repayments?
12. Can I pay off my loan in full earlier than the agreed loan tenure?
13. House Insurance
14. Fire Insurance
15. MRTA
16. MLTA
17. Stamp Duty
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