Mental Health Mortgages

If you are already a homeowner or planning on becoming one, you’ve probably read many books on home loans and the like. One type of mortgage is absolutely critical, but you never read about it. This mortgage is known as the mental health mortgage. The mental health mortgage refers to how you feel about a mortgage two months after you agree to it. In our consumer society, there is often an urge to get the most you possibly can. Many borrowers make the mistake of doing this and then really regretting it a few months later when their finances are pushed to the limit. This leads to sleepless nights and…poor mental health! When borrowing money, remember the issue is not how much the bank will let you borrow. It is how much you can COMFORTABLY afford to pay each month. Owning a home should be a positive step in your life, not something that stresses you out.

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