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Buy condominium installment and these taboos

Buy condominium installment and these taboos

What is the problem with buyers of condominiums and what are the solutions to them?

Most mortgage buyers face problems with monthly delinquency, unexpected delays or delinquency payments leading to fines. The following article will help you anticipate the risks associated with obtaining a home loan for better preparedness:

Consider monthly payment capability

Your mortgage payment should be broken down into monthly payments to determine whether the payment is adequate. That means that the redundancy after spending must be greater than the payroll, not to mention the additional income to prevent the months of extra cash.

Consider the possibility of monthly payment to select the right mortgage loan package
Consider the possibility of monthly payment to select the right mortgage loan package

Buying a home should also be based on monthly income. As a bank usually only lends 50-80% of the value of the house, unless it has a 100% real estate mortgage. Therefore, if your family earns less than VND15 million per month, you should only choose a cheap apartment from VND14 – 20 million /sqm. Income from VND 15-20 million / month can buy mid-range apartments VND20-25 million / sqm. Apartments ranging from VND25 million to VND33 million / sqmare often served for families earning VND30 million / month or more.

Choose the right loan package

This is the mistake that many people buy the apartment or pay most often because there are too many packages that cause you to jam. Typically, low-income people will choose a long-term loan package so that monthly financial pressure is not too heavy. However, if you set aside enough money to pay before maturity, you will not be able to pay, otherwise you will be fined by the bank.

Choosing a long-term or short-term loan package should be calculated in detail to avoid having to pay but having to look at the loan principal or make enough money to make enough money to pay.

Thorough review of the loan agreement

Bank loan agreements always have a lot of agreements. If not done properly, you must pay a fine, even be held responsible for civil law. As a result, the buyer of the apartment should read carefully every word of the contract to ensure that it understands its meaning. Also, with agreements that feel unreasonable, difficult to meet, you can negotiate with a bank employee before signing.

Thoroughly review the loan contract for buying a condominium apartment before signing the contract
Thoroughly review the loan contract for buying a condominium apartment before signing the contract

To make wise decisions when buying a mortgage installment, you should refer to the experience of those who have gone ahead, thoroughly researched the loan packages of many banks or questioned real estate professionals.

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