Delving into Mortgage Loan Interest: Rates, Variations, and Factors
Many property owners make the terrible mistake of not unlocking the value locked in their property. Life is unpredictable and no matter how well you plan it, sometimes you find yourself in need of urgent funds.
During such a situation, most people avail themselves of a personal loan. Unfortunately, personal loans are never a smart choice for they attract a very high rate of interest, involve a short loan tenor, and invariably a small loan amount. Compared to a personal loan, mortgage loans are a far better deal.
Mortgage loan interest rates tend to be low; the loan tenor can stretch up to 20 years; borrowers can borrow up to 75% of their property's value as a loan; and the loan funds come with zero end-use restrictions, thereby making it possible for loan borrowers to use the funds ava...