There are other forms of investments by which one can build equity including: -
Savings Plan tied to future investment;
The ability of an individual to generate savings is a measure of discipline. It is a commitment and it is a sign of thrift. It means that you have managed your resources very well.
What you Should Know or Investigate?
The following are some activities borrowers should undertake: -
Find out what are the requirements of lending institutions. These vary from institution to institution, therefore it is important to shop around for the best alternative.
Find out what are the policies of the lending institution. Every organization is governed by a set of rules, policies, and guidelines.
Try to establish whether the policies of financial institutions are likely to change in the near future and the effect on one’s ability to repay the loan obligation.
Visit the lending institution to discuss with its lending
materials. Study the literature to ensure that you 13