Mortgage paymet

Mortagage finance is help you to get your dream home which is very helpful for you and your family.

This is one part of the coin second part is that mortgage finance will eat up large portion of your income every month ,which will affect budget of your family.Most of the people try to get of the mortgage debt as soon as possible there fore they fix lower maturity period fix higher EMI .When you go for anyone of this option think twixe ,Its true that these all option helpyou to get out of the debt as soon as possible but this will creat a financial burden on you. Yes its true that your salary or your income will increase with time but its also true that your expenses increases with time period .When you go for the mortgage finance you are single but after some time you married and after some time you become a father which wil increase your expenses many time and charges of the medical bill exstra increases.Suppose when you apply for the mortgage loan interest rate is very high and it will reduce after some time so if you wait some time you can get the advantage of the reduce interest rate.

Your income not always same it will increases with time which can give opportunity to pay higher installment .There is also the possibility you lost the job.

Your family income may be increases after marriage and you can able to file higher installment than before but there is also possibility that your income reduce after divorse from your wife.

So,Its better that you can fix 40 % of your income as payment of the installment.