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How to ensure a large home loan doesn't weigh you down

Sure the bank will loan you it - but can you live with it? These days a large loan and home ownership go hand-in-hand. For some the burden of a large mortgage can be stressful, but it doesn't have to be. With good advice and careful structuring, managing a mortgage can be extremely rewarding - both in the short and long term.
Check out these four simple steps to stress-free borrowing:
Be really realistic
One of the first steps to getting a home loan is to establish a household budget. While it's a good idea to keep your budget tight, make sure you're realistic. Being unrealistic when it comes predicting expenses and being overly generous regarding income is never a smart move.
Anticipate issues
Life is never completely smooth sailing, and things don't always go as planned. Unfortunately if you're faced with issues such as illness or job loss it can put your home ownership at risk. The good news is that you can insure against these risks.
Think of the big picture
Try not to purely focus on your monthly repayments. Sure, you can reduce the amount you pay monthly by extending the life of your loan, but the longer the length of your loan the more interest you pay. The faster you aim to pay off your mortgage the better off you'll be. And remember, it can seem like a hard slog at the beginning, but it gets better - you pay very off your loan principal slowly at first, but it speeds up considerably towards the end. 
Get expert advice
While mortgages can be complicated beasts, savvy advisers know all the ins and outs. A switched on mortgage adviser can provide assistance that goes far beyond simply negotiating a competitive interest rate.
Make sure you're loan is really working for you and get in touch with your local Prosper adviser today.