Much has changed in the home mortgage market over the past six months, so blogger Gábor, a loan expert, has just posted a new article.
You can take out a home loan at up to 2.72% interest rate, but you have a fixed loan for well over 5 years for well under 4% if you are considered a good debtor. (Best available rates at the end of this article.)
Due to selling pressure, it is often suggested at the branch that it is mandatory to insure a life insurance or loan repayment insurance on a home loan, as often as it would be a requirement. Find out if you really need insurance.
If you purchase a lower interest rate on a product purchase
You may not end up with a cheaper loan if you include all the costs. Therefore, it is not enough to focus only on interest rates if you are looking for the cheapest loan.
You can also lose a lot in home insurance every month, it is worth not having to bribe the bank for the offer they are putting on you.
Most recently, I applied in early June for a market overview that listed the best available loan rates in the home loan market. Such a current snapshot is included in current writing. In connection with this, it is a preliminary point that all the data in the previous writing – except the interest-subsidized products that can be claimed in addition to the HUF 10 million CSOK – are obsolete and, for several interest periods, again significant interest rate reductions can be recorded.
The much more time-consuming part of summer writing than listing the best interest rates available, points out that we can make a big mistake by choosing a home loan based only on the interest rate of your loan offers, your APR or even the total cost of your loan, because it’s important to consider…
what commitments we make to the lender in the form of interest rate rebates and what happens if we fail to honor these commitments;
The cost of early repayment
Costs of other products, insurance, bank accounts related to the loan.
While I wrote about the first two points longer, I just mentioned the third. This time I am going to write some thoughts on loan-related insurance. It will not be about the insurance itself – because I do not know it – but about their insignificant influence on the total cost of the loan.
The topicality of the topic is that a credit product has appeared on the market where, if the customer undertakes to take out bank-broked home insurance and credit coverage (and credits at least $ 300,000 a month to his bank account), you get an interest discount so that the total burden of the loan can be lower than if you do not meet the discount condition if the insurance premium is taken into account in the comparison.
More important than comparisons within a financial institution’s
Offering is that it is competitive with all other banks’ offerings, but not nearly as outstanding as suggested by online loan calculators.
At a glance, a fixed rate of 3.99% for ten years seems to be the best on the market at first glance, but if you add the monthly amount of compulsory repayment insurance, which is 3.5% of the installment installment, there will be an offer on the market that does the same . That’s right, here’s our free insurance, if you like.