Frequently Asked Questions about Mortgages
Despite their prevalence, mortgages remain confusing for many. People ask whether they can qualify with irregular income, how interest really affects repayments over decades, and what happens if life throws an unexpected curveball. Lenders, on the other hand, wrestle with balancing risk, keeping up with regulations, and monitoring loans across multiple borrowers and markets. This […]
Are lenders evil for charging high interest rates?
The average lender today typically charges 4% ā 10% per month (48% ā 120% per year). Whoa. It makes you wonder how they recover loans at these rates. At first glance, it seems outrageous, even exploitative but thereās more to the story when you consider the risks and costs lenders face in Nigeriaās financial landscape.
What are the three Cās of credit and how do lenders actually use them?
Understanding this framework isĀ useful for lenders and equally strategic for borrowers. Knowing how the three Cās are weighed provides insight into what strengthens or weakens an application.
