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Starting to look to buy a new house for the first time? Overwhelmed by the types of decisions and underwhelmed by your knowledge about these topics? I knew I was when I bought my first house, solely relying on good faith in the (random) financial advisor I had hired. This article is to give an overview of the different topics discussed on this site regarding basic mortgage philosophies and regulations.
To start to make sense of mortgages I am presenting a series on the basic variables important in a mortgage, this will include (a possibly growing list):
- Loan amount
- Loan term
- Mortgage types
- Fixing the interest rates
- Tax benefits
- Mortgage insurance
- Other obligations (loans, alimony)
I will of course attempt to include as many different financial philosophies along the way, although this is a topic where I cannot avoid regional specificity when it concerns rules and regulations that apply to various parts of this discussion.
However, as the majority literature references the U.S. situation, I will balance this with providing the U.S. situation next to the Dutch situation (to the best of my capacity). Hopefully you can enjoy and learn a lot during the way – I know I will!
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