5 factors to consider when buying your home with a mortgage
STILL DON'T KNOW WHETHER OR NOT TO MAKE THE DECISION TO BUY A PROPERTY WITH FINANCING? CONSIDER THESE POINTS TO KNOW IF IT'S RIGHT FOR YOU. 
The commitment to acquire a house at faisal hills islamabad is one of the most important in life and you should only assume it when you feel really prepared. Building your wealth is not impossible, it only requires planning and commitment.
In case you still do not feel convinced to do so, we suggest you reflect on these 5 points that park view city specialists put on the table .
1) Calculate your saving / disbursement capacity
You can achieve this by analyzing your fixed income and fixed expenses from the last 6 months, start by registering them, you will see how that task makes you more aware of what you earn and what you spend.
Now, subtract your fixed expenses from your fixed income and divide that by six. That result, which represents your savings capacity, multiply by 0.25. The amount you get will give you an idea of what you can pay on a mortgage.
Remember that 25% to 30% of your income is what is recommended to spend on housing, paying more could unbalance your finances or your lifestyle.
2) First process the credit, then look for the house
Be very careful with this point! Avoid monthly payments like offered with ichs town payment plan, that are out of your capacities and do not compromise your financial stability in the future.
3) Post-purchase costs
There are costs associated with buying a home that you will have to take into account: moving , costs with your current landlord (in case you rent your current home and the delivery date of your new home is prolonged), maintenance fees of the new property, etc.
4) CAT, interest rate, amortization rate, monthly payment
Ask the banks where you quote mortgage loans to give you a financial run with the amount of the credit, the value of the property, monthly breakdown of the initial balance and the monthly payment specifying how much is going to insurance, interest , capital and fixed balance. So you can get what you are really paying.
5) Costs related to hiring
When processing the mortgage loan, it is important to take into account that not everything is included in the bank loan. In addition to the down payment, you will have to pay out of your savings between 4.5 and 10% of the value of the property, which corresponds to:
Notary fees : they imply an additional cost. In university town islamabad
it represents around 7% of the value of the property, while in the interior between 4.5 and 5%.
- Appraisal: On average, $ 3,500 pesos for every million pesos of the cost of the property.
- Commissions: financial institutions commonly charge you an opening commission that ranges from 1% to 2% on the amount of the credit to be granted.