Buying yourself a house is a big decision. When you are doing it alone, it is an even bigger decision and a lot of time and thought has to go into it.
If you are a single woman, planning to buy your own home, here are a few mortgage tips to help you out:
- Ask Banks
Ask various banks about the mortgage offers and policies they have. Do not restrict yourself to just your bank. You would never restrict yourself to one brand of a bag and would check LuxTime for other options; it is a similar situation here. Different banks have different policies and you may find something much better than what your own bank is ready to offer you.
- Check Rates
Do not sit back and accept the rate quoted to you by your bank or the broker. Ask around and find out what are the going rates in the market. Ask friends and family to know if they have gotten better rates. You can take help or tips from them and ask for better rates.
- Check For Women Special Rates
Some banks may have special discounts and rates just for women. This is not a gender bias but this is a move to improve the lifestyles and independence of the womenfolk. See if you have a good offer in such a manner and make use of it.
- Involve Your Employer
When you take a loan, you need to pay it back with interest. Involve your employer and discuss with him about your plans, so that he knows you are taking up a financial responsibility so that he can offer you a better paying role if he has one to offer. However one has to be careful here. If you do not have a very good relationship with your employer, it may not be a good idea to tell him you are getting financially vulnerable.…