When buying a home, where to borrow is always a very important question. We are quite rightly raised in our commitment to 20-30 years. In addition, it may not be the cheapest loan that you really get the best deal on. Let’s look a little deeper.
Why borrow now?
First of all, the extremely low interest rates should be mentioned. The central bank base rate has been around 0.9% for about 2 years, which means that the interest rates on the loan are also lower than, say, five years ago.
Suggestion: You may want to replace your previously taken loans for cheap low interest loans!
In addition, with so much money, the state supports you to own your own home . Which, as we know, is not a negligible factor, especially if we talk about more than 10 million HUF.
Consumer friendly credit
A Qualified Consumer Friendly Home Loan is a market loan that has to meet serious conditions to qualify for this indicator. This includes, for example, accelerated credit management, maximized interest rates, or free cash savings from cash registers ; and repayment . Many people have already liked it, since the vast majority of loans are such consumer friendly loans.
Calculation is important
Before you go into anything or go to a bank, count on the credit calculator! You will see that there are significant differences from the very first installment. And as we wrote in the introduction, this is just the beginning, as it doesn’t matter how long that specific amount is to be transferred to the bank each month.
Pay attention to the interest period!
We should focus on the interest period when comparing two loans with nearly similar installments. It does not matter that it is 3 months or 10 years, for example. Simply put, the interest period means that our installment will not change during this period. Thus, even though a loan may seem a little more expensive at first, if you have a much longer interest period, we are better off with a rise in interest rates.
In a nutshell, these are worth paying attention to when thinking about credit. Of course, if you need help then we are here, contact us! Our experts will try to answer you the most precisely.