 |
Home Loans | |||||||||||||||
|
|
||||||||||||||||
|
Home Loans
A home loan
or otherwise know as a "Mortgage" requires that the security the
borrower gives the lender to be registered against the title to the
property being purchased. (Note - the mortgage charges the title in
favour of the lender so that the property cannot be sold without the
loan to the lender being repaid and the mortgage discharged. Legal
ownership of the property remains with the owner, but in the event of
the owner failing to comply with the requirements of the loan, the
lender can, after giving notice and following the procedures set down by
law, take steps to sell the mortgaged property to recover the debt).
Most
major banks and financial institutions provide home loans to qualified
individuals. The better your credit
score, the better interest rate you will receive on your mortgage
and you will usually not have to pay points.
|
|
||||||||||||||
|
| ||||||||||||||||
