How to buy a home without a bank loan and not worry about interest rates

In this article, Realestatevietnam will offer you a way to buy a home without a bank loan, without having to pay a monthly interest rate, but still be able to own high end apartments in big cities.

Current laws create opportunities for homebuyers without a bank loan

Under current Vietnamese law, foreign-invested apartments will be subject to a limited amount of pre-handover payments to the buyer. Depending on the construction progress, payment of contract value related to real estate formed in the future is carried out in different installments.

For foreign-invested investors, before handing over houses or works to clients, they shall only be allowed to collect up to 50% of the contract value. At the same time, domestic investors receive up to 70% of the contract value before handing over the apartment. This creates a lot of favorable conditions for the buyer. Let’s take a closer look at Realestatevietnam .

Opportunity for homeowners to own high end apartments without a bank loan

Buyers can take advantage of investment in real estate from foreign investors’ projects without having to borrow money from banks as well as pay interest.

The payment method for foreign investors is quite light, usually 45% in two years.

Thus, with a number of projects, the average monthly buyer only pay 1% of the total value of the apartment. No need to borrow from a bank and worry about the monthly interest rate, when buying foreigners’ apartments directly, buyers can take advantage of this to mobilize more funds over time. waiting for delivery and receiving home.

Foreign investors are allowed to collect up to 50% of the value before handover

In addition, projects with foreign investors often have very good quality. Compared with the quality of the projects of investors in Vietnam, the project of apartments of foreign investors are evaluated better. The names of some famous investors in the real estate market in Vietnam such as Keppel Land, Mappletree, Frasers Property, …

In particular, the real estate projects such as Palm City, The View Riviera Point, Empire City, … of the investor Keppel Land. It is one of the largest and most prolific foreign investors in Vietnam with real estate items and projects stretching from Hanoi, Ho Chi Minh City, Dong Nai and Vung Tau. The quality of the apartments in these projects are highly appreciated in terms of construction techniques as well as services, leading to new breakthroughs in lifestyle.

Currently, The View Riviera Point of Keppel Land is in the process of building Phase 2 and will be handed over to customers in Q2 / 201. The price at The View Riviera Point apartment is about VND35 million / sqm for delivery of raw materials (not VAT) and VND40 million / sqm for complete delivery apartment (not VAT). On average only about VND4 billion – 4.8 billion / 2- bedroom apartment. This price is considered quite good for a project coming from reputable foreign investors, beautiful design and favorable location.

In addition, Palm Garden is also under the Keppel Land owner with the price and payment method is extremely suitable for buyers who are not financially or do not want to bank loans. Pay only 1% per month for 2.5 years until the house. In addition, there are other apartment projects from foreign investors such as Frases Property’s Q2 Thao Dien, Mapletree’s One Verandah, Swan Bay’s Swan Bay, etc are also in the open.

The advantages and the suggestions that Realestatevietnam will give you more useful information on how to buy a home without having to borrow bank loans, mortgage trouble as well as high monthly interest rates.

Accordingly, when buying a house in the form of bank loans, the buyer must choose one of the three borrowing terms are 10 years, 15 years and 20 years. Many banks offer low interest rates and attractive rates ranging from 6% to 9%. However, this preferential interest rate is only applied from 6 to 12 months. After this period, customers will be adjusted interest rates, up 4% from the original interest rate.

As a matter of fact, mortgage loans are considered by the bank for consumption loans so the interest rates are quite high. Therefore, the buyer must carefully consider the real interest rate, at the same time, must ensure a strong financial resources to repay the bank including both capital and interest to avoid the risk.

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