A Mortgage or Housing loan is a good debt where you are able to borrow money to gain a higher return versus the lower mortgage interest rate, especially when the interest rate is lower than the inflation rate.

In addition, you can better protect your family with mortgage insurance for the mortgage house.

Purchasing a property can be a very stressful financial event in a person’s life. It is a good practice to obtain an in-principle loan approval from the bank for your mortgage loan, before proceeding with the property purchase. With an in-principle loan approved ahead of time and understanding your property budget, you can keep your stress level to a minimum and focus on selecting your dream house and completing the purchasing process.

You can work with a Mortgage Broker for loan analysis as well as to compare the mortgage packages that various banks are offering.

By Eileen Tan and Ui Wei Teck, property investors and authors of Enjoying Mid-Life Without Crisis.

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