Why a Home Loan is the Smart Choice

Making your first home within reach

August 1, 2023 | by HC Mutual

Creating an ideal haven for you and your loved ones is one of life’s milestones. Buying a house is always included in almost everyone’s list when they start their careers.

Your first home is a big purchase so it can be a bit stressful when you realize that it will take years before you can afford your chosen property. Waiting for the time when you have saved enough money before buying the property is quite impractical. It can lead to spending more money on rent or spending a longer time living with your parents – which is something not everyone is comfortable with. It may even come to a point when there will not be enough time to enjoy the home that you worked hard for if you get stuck waiting.

Why a home loan is the practical way to go

Fortunately, there are available home loans that can help you acquire your chosen property even if you cannot fully pay for it outright. Many financial institutions offer various types of home loans that make buying a house more feasible. Simply put, a home loan is a financing option that can be used to finance your house, vacant lot, condominium unit, townhouse unit, or apartment unit.

Things to consider

Home loans usually check the following for eligibility: age, employment, income, and citizenship. It is best to do a self-assessment first before you search for the applicable loan for you. Take note that you are not only considering your current financial capacity when you avail a loan but also your future capacity since you will be paying it for years.

Here are some things to consider when you start looking for a home loan:

HC Mutual KayaMo Home Loan

HC Mutual offers KayaMo Home Loan that can help you start buying or building your first home. As an HC Mutual Member, you can have access to a reliable and hassle-free home loan and enjoy the following:

PHP 450,000 to PHP 20M loan amount per member
Easy application after one (1) month of membership
Access to our partner developers and a wide range of brand new homes
Payment holidays extension in case of emergencies
Welcome gift upon moving in and 1-year Accidental Life Insurance coverage worth PHP 500,000

It is important to choose a home loan that is practical and manageable so you won’t have a difficult time paying for it for a certain number of years. Getting a home loan can be rewarding because you can finally make your first home within reach.