Acquiring a home is a pivotal decision that necessitates considerable time and careful consideration of various factors, including the property's title, quality, size, location, environment, and financial plan. First-time homebuyers may encounter challenges such as limited knowledge regarding the risks associated with the property title, the intricacies of legal processes, or the challenge of identifying a suitable financial institution that aligns with their income level.

"Purchasing a home offers safety and happiness to your family; moreover, it serves as a potentially profitable investment in the future. Therefore, we encourage you not to delay your home purchase until you have accumulated sufficient savings, as financial assistance from a lending institution is available," stated Mr. Heng Sakada, Head of Credit at First Finance Microfinance, which specializes in providing housing loans to low- and middle-income families in Cambodia.

Mr. Sakada further elaborated, emphasizing that when seeking a mortgage loan from a financial institution, it is crucial not to focus solely on the interest rate, particularly for low- and middle-income families. Several factors should also be taken into account:

1. Repayment Options: Assess whether the payment process is convenient and efficient, or if it necessitates frequent visits to the office.
2. Fees: Understand all associated costs, including any extra or hidden fees that may arise during the loan process.
3. Loan Tenure: The duration of the loan can significantly affect the monthly payment plan; longer terms generally reduce the monthly burden.
4. Partial Prepayment Conditions: Evaluate whether the terms for partial prepayments are reasonable and straightforward, including the amounts that can be paid down early.
5. Repayment Methodology: Ensure that clients have access to flexible repayment plans that align with their cash flow and payment capabilities, such as fixed principal payments or equal monthly installments.
6. Favorable Conditions: Inquire about the presence of a grace period for clients who may experience temporary financial difficulties, as well as options to adjust their payment schedules.

Mr. Sakada noted that purchasing a home typically involves a long-term loan tenure, often lasting up to 15 years. During this period, clients may encounter financial challenges, underscoring the importance of selecting a financial institution that offers favorable conditions and possesses the expertise necessary for providing housing loans. This ensures that clients receive excellent guidance and appropriate legal advice throughout the process.