The bank’s lending to home loans is a matter of particular concern as the real estate market begins to recover sharply.
In 2016, the property market in our country has seen positive changes and a marked recovery. Accordingly, the demand for loans to buy housing increased, the interest rate of bank loans naturally became a special concern for individuals who are in need of owning a home for themselves.
Does the bank’s lending policy actually facilitate homebuyers?
At present, banks do not usually announce specific lending rates on websites, but in the first months of 2017, bank lending rates appear to be on the downward trend to stimulate demand for capital loans.
According to statistics, current lending rates range from 6% to 9% for short terms and 9% to 11% for medium and long-term. After the $ 30 trillion low-end concessional credit package ended, the state has also actively followed policies that encourage increased real estate purchases by lowering lending rates for homeowners.
However, there are many predictions that the bank’s lending policy does not really facilitate people who need to buy a house when interest rates can increase in the future. Then, the borrower will be subject to more pressure from the use of capital, the cost of buying up the house, the money paid to pay interest and principal also significantly more.
Notes when borrowing money to buy a home
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Since the money to buy a home is not small, before you decide to borrow money, take a close look at the loan policies as well as the interest rates spread between banks. Homeowners can find out about this information through real estate developers, reputable bank credit officers, interest comparison websites or financial advisors. In that, updating bank loan interest rates on these comparison sites is for reference purposes only.
Theoretically, banks can support up to 70% of the value of a home, but it is clear that if you borrow too much money to buy a home, only monthly interest is enough to be a problem. not small. Also, do not borrow money unless you are sure of a repayment plan. In some cases, people needing to borrow money to buy a home and then renting out the house of interest are also considered to be quite a feasible option, but only on a case-by-case basis.
The house is not a small asset, for people with average income down to accumulate money to buy a house that can take life, but thanks to the bank’s lending policy, they can be shortened quite a lot of time. Therefore, it is very necessary to grasp the situation of interest rate fluctuations.
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