ABSTRACT
This chapter discusses the housing finance market and associated developments. Housing finance schemes have become very common ways of funding house purchases. A careful management of the housing finance and prudent decisions at important junctures of the loan life cycle is important for stability and improvement in personal wealth through housing. Much development in financial and mortgage markets have happened and significantly changed housing market dynamics across the world. For households, a mortgage loan is perhaps the most significant and sizeable financial commitment and liability. Mortgage enables prospective homeowners to afford to purchase a house by paying the loan obligation with small portions each month. The main types of mortgages are as follows: annuity mortgages; and balloon mortgages. A healthy and well-functioning secondary mortgage market can keep the housing market accessible for a lot more households and enable them to realise their homeownership dreams.
