03-22-2018, 06:22 PM
[quote quote=1642]This is a very critical decision to make but I believe it depends on a lot of variables for me to conclude on the decision to use my house or landed property to secure a bank loan.
Now the first thing to consider is the amount of money involved with the loan I needed. If it’s a substantial amount of money, then looking at using my house or landed property as collateral should be a reasonable option.
Secondly, the means or method of payment of the loan and the duration of the loan. If these conditions are favorable, I will possibly consider the options.
Then finally, my purpose of needing such loan. If it’s something that I have analysed properly and everything pans out well that investing such loan would bear more profits, then I’m all in with getting such loan with my house or landed property as collateral.[/quote]
I think that you made a very strong case on things to consider before making a decision on getting a bank loan with one's house or landed property. If one makes sure to follow all these steps in securing the loan, I definitely think it's worth giving a shot.
Bank loans aren't easy at all to secure, so it's very important to ensure that all angles are covered before getting them or otherwise, it's going to be a bad decision for that individual.
Now the first thing to consider is the amount of money involved with the loan I needed. If it’s a substantial amount of money, then looking at using my house or landed property as collateral should be a reasonable option.
Secondly, the means or method of payment of the loan and the duration of the loan. If these conditions are favorable, I will possibly consider the options.
Then finally, my purpose of needing such loan. If it’s something that I have analysed properly and everything pans out well that investing such loan would bear more profits, then I’m all in with getting such loan with my house or landed property as collateral.[/quote]
I think that you made a very strong case on things to consider before making a decision on getting a bank loan with one's house or landed property. If one makes sure to follow all these steps in securing the loan, I definitely think it's worth giving a shot.
Bank loans aren't easy at all to secure, so it's very important to ensure that all angles are covered before getting them or otherwise, it's going to be a bad decision for that individual.