What is a financial loan when buying a condo? Is this loan service really guaranteed? What experience to borrow money to buy a secured apartment? This is a hot topic that many young families are interested in.
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The apartment is now a popular housing model, especially the majority of young people. Choosing an apartment means the choice of modern facilities and friendly living environment. In addition, if the purchase of land to build homes takes a lot of time and money, for apartments you do not need so much capital that can use the loan service is very convenient.
Borrow money when buying a condo and the situation
Buying a condo loan can be understood simply by borrowing money to buy an apartment. However, if the old people have to run around to borrow money, now finance companies, banks are willing to lend you money. Depending on the apartment block and the owner, the finance companies and banks decide on the loan amount. The majority of banks lend 60-80% of the value of apartments and buyers are paid in installments within 10-30 years depending on their income level.
At present, to save on the cost of living or the desire to settle down, many young families decide to borrow money to buy apartments. Having an early home will help them stabilize their lives, but for mortgage payments, banks or financial firms will have a method of calculating monthly payments that match your wages.
According to the latest real estate market survey, over 75% of people in need of financial loans buy apartments. This survey also shows that the apartment segment is under VND2 billion very attractive.
Note when borrowing money when buying a condo
Financial borrowing when buying a condominium is a new form of real estate trading in Vietnam. Therefore, many people do not have certain knowledge about this form. Here are some notes to make when buying a condo for those who are planning to buy a condo.
Self-assessing financial ability
It is very easy to get financing to buy a condo. However, paying for that financial loan without careful preparation will easily cause undue pressure on the buyer.
In order to avoid bad debts due to borrowing money when buying apartments, the buyer should have a certain amount of capital and should borrow no more than 50% of the apartment value to ensure reasonable payment. In addition, the buyer should also consider how to balance the monthly payments for financial loans to buy apartments and living expenses monthly.
In addition, the buyer should pay attention to the bank’s preferential services when borrowing money to buy the apartment to save the maximum payment.
Choose a reputable financial loan
Along with the prestige of apartment investors to ensure the progress of construction, the time of handover of houses and ensure legal clarity … the choice of financial loans to buy prestigious housing is also an important thing.
Choosing a financial loan to buy prestigious housing will help buyers enjoy the best and longest. Among the sources of financial loans to buy prestigious condominiums now include some units such as VPBank; Viettinbank; Vietcombank…
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Many people buy for their own sake and listen to the enticements of some financial companies lack transparency. These companies usually handle the procedure very quickly and attract customers with extremely attractive incentives. However, many cases after the loan are completed, such issues as high-interest rates, early term loan term … causing borrowers to dread.
Examine the loan agreement to buy the apartment
After deciding to choose a financial loan to buy the apartment. Buyers should carefully consider the contract that the lender offers. Factors such as interest rates, loan terms, term payables will be decisive factors.
In addition, borrowers may also propose to the lender to adjust interest rates, maturity payments to balance monthly income.
Financial borrowing to buy an apartment now is no longer a strange matter. However, financial loans are the best and most secure is always a matter of great interest. Some notes when borrowing to buy a condominium apartment above will definitely help those who are intending to buy a rented apartment with more knowledge and reasonable choice.
You are reading the article “Experiences Financial Loan To Buy An Apartment” in the section “Real Estate News” on the website: www.realestatevietnam.com.vn
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