♦ A higher down payment on your property now, means lower total payments on your property in the future.
♦ Loan to value (LTV) is a financial term used by lenders to express the ratio of a loan against the value of the home.
♦ While it’s tempting to apply for the highest LTV, it is advisable to pay a higher down payment and opt for a lower LTV, this helps in ensuring that future payments are manageable and also helps you save up money for other unforeseen and unavoidable circumstances.
♦ It can also help make a self-funded loan through rental income without having any burden on your disposable income.
♦ It also gives you immense flexibility to move for a better offer or pricing in case another bank is offering lower rates than your current home loan.
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