What I would check on a Loan agreements

When you're signing that loan agreement, whether it's a car or a house loan agreement, that agreement itself can be so intimidating. It's got so many things in it that it feels like, oh, where to start going through it. But it is important to go through it. Here a few things that I would go through in that agreement to make sure that I'm happy. Number one, it's making sure that the numbers make sense. The interest rate is what we agreed on, the loan amount is what we agreed on, the term is what we agreed on. So the financial part would double check that. Right? Number two, I would double check default. What happens, right? Go to a section that speaks about default or ask them, show me the section that speaks about me defaulting. What happens? No one goes into an agreement thinking they're going to default, but it happens, right? So you wanna read up and just understand quickly what is sitting in that default section. Another thing that I would look at is penalties. What kind of penalties come with this agreement? What am I gonna be penalized on? You might be surprised what the penalties are. So go through that. Ask them, where is the penalties section of this agreement? I want to see what penalties apply, um, to my agreement. And, uh, those are the things that I would look at. Have a good day, guys.