Buying a house? Consider how to finance it. Most banks offer mortgage loans, opening up the number of options available.

Like consumer products, bank services cater to specific needs. So, first determine what it is your really want in a mortgage loan. Would you like to invest in a house or do you just want to mortgage your existing house? Do you want predictability and security in your loan? Do you want an interest rate fixed for a certain number of years? Know what questions to ask before you jump into action.

Except for their interest rates, banks seem to offer the same mortgage services. Some institutions have lower interest rates and while those would be cheaper to maintain, it isn't the only aspect to consider.

Until they mature, home loans have interest rates re-priced annually. Often based on current market rates (treasury-bill rates plus a percentage spread), interest rates on home loads are affected by events in the country and the world. Because of the unpredictability of interest rates and the volatility of the market, home loan clients usually dread re-pricing.

To address this concern, a number of banks have introduced a "fixing" period for home loans. This fixed period ranges from two years to as long as five years, giving the borrower the convenience of being able to determine cash flow needed for his loan.

These products offer the security of maximum interest rate for the first five years, allowing you to plan ahead and budget your money. In the midst of all the uncertainty in the banking industry, a maximum rate imparts peace of mind. No matter what happens monthly payments will not go beyond what is budgeted. It is an added bonus, however, if they can go lower.

For borrowers, fixed-term interest rates eliminate anxiety as day of re-pricing draws near. It provides the security of guaranteed maximum interest rates giving the best scenario in projecting payments for a given period of time.

With products like these, having a home loan will no longer be a source of apprehension for couples and their families.