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In this article, we would like to share with you some notes when borrowing from banks to buy houses to achieve high efficiency as well as some reputable credit institutions so that customers can trust loans to buy houses.
Property financing business is said to be a relatively risky action. In fact, financial institutions and banks provide housing loans with interest rates ranging from 9 to 11% for real estate investment loans that are three times higher than normal loans. Therefore, to ensure that your investment is right and avoid losses or pressure when borrowing money from banks to buy houses and land. Investors in general and small customers should note the following issues:
In any business area, it is essential to evaluate items that are feasible. Nowadays, due to the procedures for bank loans or finance companies to buy housing is quite simple and quickly make many people decide to borrow money to buy a home quickly without regard to the consequences.
Example: Hai’s wife works in Linh Trung Export Processing Zone, Thu Duc District, the monthly salary of the couple is VND14 million. By the end of 2016, Mr.Hai decided to buy an apartment in Linh Tay Ward with the price of VND1.2 billion / unit, prepayment of VND200 million and installment payment of 10% at 10% a year. Thus, every month, he has to pay the bank VND9.1 million for the apartment, the remaining money of the couple is about VND5 million for the whole cost of eating, living, children … After only one year of buying the house, Mr. Hai could not bear the pressure to pay the rent, causing them to sell the house and suffer losses.
So in order to avoid a bad situation, real estate experts advise clients and investors when they want to borrow money from a real estate bank to hold at least 50% of their capital to avoid meeting pressure on interest payments or other risks.
Determining the investment property as well as its potential will make investing in real estate investment banking more profitable. Investors who have a broad vision of leapfrogging investment trends in real estate business will make the capital rotation and return on investment faster. That just ensures paying bank interest promptly and help them bring in huge profits.
You can read more information at Vietnam Real Estate News
In addition to securing capital and identifying real estate investments for investors when borrowing bank capital to buy land and houses, attention should be paid to a number of other factors when making investment decisions, including a condominium project; planning if land is the land of the project; public utilities, infrastructure … or legal documents .. to ensure accurate and efficient investment.
Techcombank is the leading bank in terms of lending to real estate business in our country with 17% of over VND24 trillion in 2016.
The benefits of borrowing real estate investment in Tecombank include: The maximum loan amount is up to VND10 billion with the term of up to 25 years, the preferential interest rate from 7.49 %. Payment method, simple procedure, lightweight. Customers aged 18 to 65 are eligible for loans.
In recent years, Techcombank has been selected as a reputable bank selected by many investors to invest in and trade in real estate.
Prosperous Vietnam Bank is a “young” bank among banks in Vietnam. In 2017, VPBank became one of the top 5 commercial banks in Vietnam and one of the top 3 retail banks in Vietnam with chartered capital of nearly VND11 trillion.
Vietnam Prosperous Bank is also the second largest bank after Techcombank in the field of investment loans for housing and real estate business, accounting for 12.3% of the capital of more than VND17 trillion in 2016.
VPBank has been increasingly demonstrating its prestige and strength to customers who borrow money to invest in real estate.
In addition, a number of commercial joint stock banks that provide real estate investment loans such as Viettinbank; BIDV; Vietcombank…
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