Home Savings or Home Loans? Both!

Home Savings or Home Loans? Both!

No question: Anyone who wants to create a home at current home prices should take every opportunity. Some people get more credit for the real estate they want, while others save well in advance by paying for their new home. There are also those who take advantage of government subsidies and use credit and home savings to buy at the same time, saving a lot on credit.

If you are looking for the best form of home savings, today you can obviously consider saving for a home, while if you need a loan, most will take out a home loan. Which solution is better? How do you combine the products? This is what we are doing now so that you can start planning your own family nest with the right financial plan.

Loan apartment? Cheaper and safer

Loan apartment? Cheaper and safer

Mortgages probably won’t need to be presented to anyone anymore, because one way or another, we’ve encountered them throughout our lives.

Whether our parents borrowed this type of loan or we are here in our lives, we have probably run into the issue of borrowing. Here’s a summary of what you should definitely know about home loans.

What, how much, for how long?

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A home loan, also known as a mortgage, is a special purpose loan, meaning the bank determines what it can be used for. This goal is typically the purchase of a home, ie we can only buy a home from the loan. As a property is not cheap, the amount of a home loan can be up to tens of millions of forints, and the term may extend up to 20 years.

With the best home loans you can save hundreds of thousands of HUF! Use the Good Finance home loan calculator to find the ideal loan for your home purposes!

What is cover?

bank

Since it is a large amount of credit, the bank needs some kind of guarantee in case you see your money back in case we fail to pay. Therefore, on the one hand, the loan application

  • we need a regular, regular income from which we can pay the installment

  • and you also need a real estate collateral, that is, we need to offer a property to the financial institution that you can turn into cash for non-payment.

The value of the property offered as real estate collateral is assessed by a valuer. The bank only provides up to 80 percent of the value of the dwelling, the rest being own funds. That is, if you buy a real estate for $ 20 million, if you offer it as collateral, you also have to put $ 4 million on the table. But from what source if we don’t have enough money?

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