Christian Mortgages is a type of mortgage which is bounded by the rules and regulations of the Christian society. It provides to the borrowers of the fund on the grounds of the Christian norms and principles. Most of these loans and mortgages services are only rendered to the customers who are Christian though there are also other organisation which lends these mortgages to other people of different region also.
When you are about to apply for Christian Mortgages, you must have to understand the principles that guides the procedure of the application and thereby having the loan amount transferred. It is important to note that these principles were incorporated since the time of the foundation of the Christianity and it has been same throughout all the years till date. The principles are enumerated as follows:
- In-Debt is a term that describes a person who has a liability of any loan or mortgage on him. In the principles of Christianity, taking loan for meaningful purpose and development is not a fault or any wrong thing to commit. It says that god doesn’t allow anyone to be a lender and there only chosen ones who can help others by lending mortgage money. One can easily avail the mortgage loan against their property and can get rid of the liability at any point of time if he or she gets an amount which is more than loan amount by selling the house.
- Planning the future is an important aspect according to these principles. It advises to evaluate the costs that are going to be incurred in the purchase or building of the houses and then the further costs for maintenance and all. One also needs to take in account the inflation rate and if everything falls within the budget of the person then only, he or she must opt for it.
- Affordability is another important aspect of the principles for the Christian Mortgages. It is always said that you must have such an amount of loan which you can repay that is the instalments are lesser than the earnings of yours. You must have to evaluate and analyse all your earnings and the costs of the mortgages and the monthly instalments and then only you must apply for it.
- Temptation should not be there in you and Christianity forbids it. If you availing the loan for your home, you must engage all into the process and not be tempted by the money. The money must be for a cause and meaningful purpose and not for just flaunting.
- Being Wise is the only way one can gain the inner peace and when dealing in mortgage one must not use any unfair means to avail the mortgage or deceive from repaying.
Christian Mortgages is not only a simple mode of financing; it is these values and the principles that make it different from other sources of finance. There are also refinancing options under these mortgage companies which one can avail.