Are Home Loans Really Expensive Now?

These days, you can say happy-unhappy talking about the World Cup and the rising cost of credit. Yesterday the World Cup ended, who decided whether he liked it or how satisfied he was with the end result. However, home loans and interest rates stayed with us. We would rather discuss this topic now, keep with us!

 

When is a Loan Expensive?

When is a Loan Expensive?

Now, let’s suddenly put aside the popular belief that credit is bad and we can only lose it. We wrote: Is the bank good for credit only? No, look at this! read if you think we will continue from here.

Loan is expensive if we do not hire the one who fits us best. If we are not doing our due diligence, we will choose which specific offer from which financial institution. Or another option when it is expensive to get a loan if you are not aware of the risks and accidentally crashes. Just like with the LifeSave loans a few years ago … You remember that?

The loan was also cheap until the Swiss released the exchange rate cap, which resulted in a huge increase in loan repayments. Although everyone was told in advance what currency risk is, people didn’t really take it seriously.

If not to that extent, we can still hit our ankles if we do not pay attention.

 

Let’s look at the numbers!

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The cost of credit is always a matter of comparison. Could it have been cheaper 1-2 months ago? May. Is it still cheaper to get a home loan now than 5-6 years ago? Much. Now, after all, we tend to tend to not have the cost of these loans now.

In the case of the LifeSave loans before the crisis, 10 million forints for 20 years cost about 75 thousand forints per month. Now , according to the loan calculator , we can borrow the same amount for the same maturity from HUF 52,795 per month. In fact, even the “most expensive” would cost us $ 61,493 per month.

These numbers all show that today’s credit is not expensive, and in fact, it is still very cheap. Therefore, if you are thinking about credit, do not hesitate to contact us! We are helping to make today’s cheap loans even cheaper

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