The Borrowing Process in 2019 – Loans
In common parlance, now everyone is a little salted. We are being bombarded with a level of government support in the news that has never been seen before. That way, even those who don’t really plan to buy a new, bigger home will be tempted to buy one. Of course, there is no problem with this, since everyone has the right to decide when to switch. And now the opportunities are really good. However, hurrying is by no means a mistake, because then you can make mistakes that can cost you a lot of money. Or the fact that we don’t have the real estate we look for. Come with us and you won’t make a mistake!
Just to give a brief description, the Family Home Creation Benefit , the Family Protection Action Plan , and the Baby Waiting Loan in particular, provide an opportunity that can give us up to $ 20 million. And then we did not even talk about CSOK-related soft loans, which could be up to another 15 million HUF. In addition, the village CSOK comes .
And, which is also very important. The central bank base rate is still 0.9 percent, which means that interest rates on loans are low, ie cheap. But the borrowing process still has its difficulties.
The first important thing to do
Let’s do a credit pre-qualification! This is a process that is completely free. We have to go to the bank and go through our financial due diligence. This is a great advantage because we will know exactly how much credit we can earn. This way, we will only look at properties that we can really afford. In addition, banks retain this for up to half a year. So when it comes to borrowing, you don’t have to do it again, which saves you a lot of time. But which bank should we go to?
Compare first and foremost
The best way to find the bank that works best for you is to use the credit.com calculator. Here we can compare the loans in every possible way. It may even be that we require a CSOK for our credit . Long or short interest period.
It should be noted here that the results should not be discussed with an expert . On the one hand, one or two conditions will be easier to understand, and on the other hand, there are tricks that can make the loan even cheaper.
Contract, valuation and others
These are very important elements of borrowing. The bank needs a contract of sale to borrow. Each bank will provide you with information on exactly what should be included in the document. To do this, insist that you do not slip into buying real estate!
Valuation and credit assessment are at the heart of everything. If all is well, there are only formalities left. For Qualified Consumer Friendly Home Loans , this process is extremely fast as it is regulated by law.
Once you have signed the contract with the bank, you only have to do two small things before the notary and the bank will tell you. Suppose everything has gone well so far. We signed the contract. Typically, we need to take out a home insurance policy for our new property and assign it to the bank. This is because we give the bank collateral for the property in exchange for the loan. The other task is to put a stamp on the property’s title page. That is, to make it appear in official form, the credit.
However, these are really little things that you can no longer slip into. So that’s the story in a nutshell. If you still have questions or want to know more details, contact us! We will help you from the very first step until you have repaid your entire loan.