When your mortgage application is finally approved and you can buy your own ideal housing, you will be greatly excited and satisfied. However, before becoming a homeowner, you must be aware of some important concerns to ensure that you have proper control over your finances and property。

After the mortgage is approved

Note the details in the text. Before signing a document, you need to ensure that all the details and terms of the mortgage agreement document are in line with what you know. If you feel suspicious or uncertain, do not shyly ask questions to the lenders. Issues to be clarified include the frequency and manner of payment of interest, ownership of collateral (usually your house), the amount of default money and the manner of use。

Plan your budget. It was important to maintain a healthy financial situation even after the mortgage had been approved. Make sure you have a viable budget after buying a house and always live on it. This covers not only the maintenance and repair of houses, but also other necessities such as utilities, insurance and property management。

Keep the credit good. Upon approval of the mortgage, keep in mind that a good credit record is maintained. As long as you do not violate any of the terms of the loan agreement, such as the timely payment of the repayment, there will be evidence that you are a good borrower, which will be very helpful to your future financial situation and will help you to obtain other loans in the future。

Establish an emergency fund. Related to the maintenance of a good credit record is the establishment of an emergency fund to deal with any unfortunate incidents that may occur, such as unemployment or illness. This fund would best be the sum of approximately six months ' share of your existing assets。