The number of people interested in mortgages and borrowers is constantly increasing and this is pushing banks to compete. But it is not at all important that when we are buying a home, we are borrowing and from which bank. There are considerable differences between bank offers. This time, we show you how much it takes to get a $ 10 million home loan for 10 years today, and as we approach the last month of the year, we look at how much this has changed compared to the beginning of the year.
Even then, we were examining 10 million forints home loans in several ways. We looked at the offers for 10 and 20 years, with shorter and longer interest periods. In this article we only focus on the 10 year maturity and focus on the reason for the interest rate period .
When looking for an apartment for our dreams
Of course, staying on top of reality, let’s get started first! We on real estate.com tried to find out what kind of flats in Budapest we can find between 15 and 20 million HUF. We started our search by first narrowing down to the 5th district flats, where the largest of the 12 results is 32 square meters, but 24-25 square meters are more typical. So in the city center we can buy small, mostly one-room apartments for that money.
In the outer districts of Budapest you can already find larger flats for this, but the standard deviation is very high depending on which outer district we are talking about. The IV. Filtered by district we immediately found 500 results. We can find almost any size of floor space, from small one-room apartments to more spacious 75 square meters homes, but there are apartments for sale over 100 square meters in the district.
In our examples above, besides the limited price, we are now looking for real estate by two criteria, location and floor space, which does not give a nuanced picture of what real estate can be bought for this money in the capital. Of course, everyone can choose the right apartment for their needs, needs and opportunities.
Let’s take a look at what banks are offering to take a $ 10 million home loan
We assume that the rest of the purchase price is self-financing and we do not count on CSOK. When choosing a 10-year term, we need to decide whether we want our monthly installment to be the same throughout the 10-year period, even if it means a higher monthly expense and more overall repayment burden; or we insist on the lowest initial monthly installment payment , committing that the bank can only provide it for a shorter period .
Home loans with a 10-year interest period
Thus, the interest period can be a very decisive factor in loan selection. It is a risk-free decision to choose a 10-year interest period , ie a fixed installment until the end of the term.
This eliminates the risk of rising interest rates over the years. Our repayment in the 10th year will be the same as in the 1st month.
Home Loans for Buying a Used Home, 10 Million HUF for 10 Years, with a 10-Year Interest Period and a Monthly Net Income of under 250,000 HUF.