A home loan is usually the largest financial transaction that most individuals will complete during their lifetime. Often the details are not seen as part of the big picture, with the focus being on how much the monthly payment will be and what deposit is required to secure the desired home.
An understanding of exactly what a home loan is and how it works is helpful in making the up front decisions that will have such an enormous impact on your financial health over the next few years, and your lifetime.
At New Zealand Home Loans, our managed loan