How to ease your stress on mortgage

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Ever since I was a kid I knew I wanted to have my own house I can call my own, coming from a very humble background this aspiration of mine always felt like a goal I would never reach. But as years went by and I started raising a family of my own, I never thought I would be able to achieve this goal, not just once but thrice. When I got married way back, I was able to save up enough money to buy small plot land for a considerably average price in the area.

Slowly but surely I slowly put up money for the completion of the construction of the small rental property that generates me money until today. However, that one small rental property wasn’t enough as my family continued to grow to 5 children.

The revenue that was being produced by that property barely put a dent on our family’s growing expenses, especially considering that to ensure a holistic upbringing, we made it a point to engage them in curricular activities that would help in their development. Because of this we decided to buy another plot of land and construct a small apartment building, but none of this would be as easy as the undertaking we took previously.

Even a small plot of land at this point was becoming very expensive and it was hard to raise money needed to finance this project along with the everyday expenses needed for raising five children. Because of this we decided to seek financial aid through bank loans for a majority of our financing for this new undertaking.

This being our first loan from a bank to finance a house was quite intimidating because of our fear that the interest of the loan would soon balloon and become harder to handle down the line. Due to this we had to hire outside help to figure out the amortization that we would face in the future, a service that was quite expensive at that time.

Fast forward 20 years and here I am standing in front of a new opportunity for me to achieve my goal a third time. This time however, being the second time I would be looking for bank loans, I figured that it would save me money and time if I figured out how much I would have to pay the banks first.

Obviously I turned to the easiest place to find information, the internet, and through scouring the web I was able to find mortgage calculators which I can link in this article. Making use of mortgage calculators definitely helped me be more confident with the next steps I had to take, considering that I would need to borrow figures in the millions, but this time I was no longer intimidated due to the tools I found on the internet.

Another reason I was able to find these tools easier would be due to my aunt-in-law living in London’s help, she pointed me towards a mortgage calculator, MortgageCalculator.uk. All of this happened during the Covid Pandemic, a time where more things became uncertain.

Owning a house in this time became more of a relief, as it meant that I would always be able to come home to something I could call mine. In fact we see a trend of many young Filipinos investing more of their hard earned money towards housing. Inquirer.net explained this phenomenon being brought about by the Work From  Home (WFH) scheme that had to be imposed. From spending their money for cars, gadgets, and other assets, it was explained that these people saw the importance of having a home they can call their own.

Most of these young Filipinos lived in rental properties sharing with others, or with their family. But of course this would mean that they wouldn’t have a space of their own and would constantly be invaded by others. Living in your own home has a different sense of accomplishment, and surely enough, more people are realizing this, and with the usage of many tools that you can find online, people are becoming more emboldened to buy their own homes.  

This article has been initially published last

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