With the elimination of state subsidies for home savings, the question arises: what savings and loan options are left that can help us get to your home as soon as possible? With the help of the Good Finance loan calculator, we looked at the options.
Market-based mortgages are still cheap
Home mortgages are available in almost every bank and can be worth as much as tens of millions of dollars, depending on the amount of real estate coverage we offer and the amount of the installment payment. In recent years, mortgage loans have become very cheap due to the favorable interest environment for loan planners, whether we are looking for a floating rate or a fixed rate facility.
If you are looking for a safer, fixed-rate mortgage loan with a term of 20 years, with a 10-year interest period, depending on the loan amount, you can find an offer below 5% APR : at Goodbank we can charge HUF 10 million with a total refund of $ 5,000.
Among riskier, floating rate loans, we can go below the initial APR of up to 3 percent. K&H Bank offers a floating rate loan with a APR of 2.79%, with an interest period of 3 months. In this case, the monthly repayment installment will be HUF 53,430 and the total repayment amount will be HUF 13,004,120. An important factor is that this calculation does not take into account possible interest rate increases, as we cannot foresee them.
Declining borrowing costs
You are about to buy a home, but do not know which home loan is the best choice? Compare current best deals with the help of the Good Finance Home Loan Calculator with just a few clicks.
Based on central bank data, the average APR for housing loans was 4.66 percent by October 2018, compared with 4.81 percent for the same period a year earlier.
Home Creating Home Loans: The State Can Help You
Depending on the purpose of the loan, you can borrow home-creating loans for up to HUF 15 million. Their advantage is that the state takes over part of the interest during the first 5 years of the term , so the repayment installment is more favorable as a debtor.
The state rebate is activated if the interest rate on the loan rises above 6 percent. According to Good Finance, much more favorable credit facilities are currently available and, as we have seen from the above central bank data, interest rates are far from 6 percent, but who knows what the future holds.