The great interest in home loans has not diminished, but rather keeps up with the growing number of contract deals, so we show you the current cheapest loans so everyone can quickly decide which one is right for them.
The following is a list of floating rate loans with a fixed interest rate of 5 to 10 years or with fixed interest rates.
- The cheapest loans, often with variable interest rates, can be taken at 2.5% APR.
- Anyone who does not take the floating interest rate risk will find a fixed rate loan for as long as the APR below 6%.
Interest in home loans has been as high as a few months ago. Actually, we are in an easy position because our monthly home loan list would give us accurate information, but now we can look at the list every 1-2 months, which summarizes the latest home loans.
Those who have dealt with home loans a little bit, obviously know that there are basically 2 types.
There are two types of home loan:
- floating interest rate within one year
- fixed rate loans for at least a few years and up to the end of the term.
The interest rate on a floating rate loan is lower at the start of the year, but you have to take a fair amount of risk, as the repayment rate may increase every 3 to 12 months due to the interest rate review and recalculation. We are better off if we start with a higher but initially fixed interest rate for a loan for several years or all the time. It is safe, balanced, no dangerous fluctuations.
Home mortgage loans are now winning, as evidenced by the last quarter’s clear statement.
According to the data provided by the central bank, in February the share of interest rate fixation of new loans granted was 68.4%.
46% of new loans are fixed-term loans with a maturity of 3-5 years, which is only safe for 3 and 5 years, but it is still the most popular.
For frequently changing loans, With a loan amount of 10 million for a term of 20 years, they increase to HUF 12,500,000 -13,376,335 until maturity, with a APR of $ 52,000 / month to HUF 56,800 / month with a APR of 2.53-3.23%.
Floating interest rates are the cheapest because we have to spend the least on startup, which changes every 3 to 6 months and at a 2.53% APR, which is expected to be a startling jump in monthly installments within 1-2 years.
Don’t forget the rule!
If the interest rate on the loan increases by 1%, then the repayment rate will be 8-9% according to the thumb rule.
This is a big risk, and when you want to pay off your loan accurately over the long term, try to fix the interest rate for as long as possible with a slightly higher down payment.
The value is only certain where we choose a 20-year interest period, which means a fixed repayment until the end of the term.
The difference in APR will be much smaller than that of variable and fixed loans.
Experienced experts believe that we expect a significant decline in housing prices in Hungary in the coming years.
There are few signs that real estate prices will change in 3 years, according to experts, even in 2018. Rather, we are reminded that it is worth buying real estate now, even as an investment.
The best three credits in the categories
- Its APR decreased rather than fast-moving loans, but remained below 0.25%, while its one-year average increased by 0.35%.
- Fixed loans showed an increase of 0.1-0.2%,
- except for fixed-rate loans, the interest rate decreased by 0.1%.
“By all categories, the best home loan today is a Central Bank-rated loan, so in most cases, when we choose a fixed loan, consumer-friendly home loan is what we are offered, and high interest means getting more and more qualified loans. That’s because there hasn’t been a major shift in the cost of loans since January, ”we learned from our independent expert.
If you are interested in home loans, GFIC, consumer friendly loans, consult our credit brokerage experts for free professional mortgage information!
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