Buying real estate
Would like to obtain bank financing for buying real estate?
You should consider the followings by all means!
The amount of the monthly installment will highly depend on the product construction chosen and on your entitlement for particular constructions!
Attention: the announced favorable interest rates usually relate to the first interest rate period, after that the interest rate can rise significantly. So the installment of the HUF-based loans could increase as well!
The definition of the new home is written in the law. Depending on the amount of your self contribution, on your income accepted by the bank, on your requirement of financing based on HUF or foreign currency, buying of the new home can happen by mortgage or by leasing.The type of loan can be with market based interest or even state-supported. More
We recommend financing of home buying by loan for those, who’d like to apply for a HUF-based loan without exchange rate risk, and for whom the early acquisition of the proprietorship is important.
Advantages of the loan:
- In the case of a loan the whole purchase price can be financed by the involvement of an additional real estate.
- The term of the loan can be even 35 years, so the monthly installment can be decreased.
- In case of a home loan the proprietorship is transferred to the buyer, the bank gets an alienation prohibiton registered on the real estate.
The state provides interest rate subsidy by state-supported loans if certain conditions are met. Because of the governmental interest rate subsidy more favorable conditions are available than by market based interests loans: better loan interest rate, lower installment. The monthly installment of the loan can be calculated for a long term, as it can be required with even a 5-year-interest rate period. It is a HUF-based loan, so it is safe, because there is no exchange rate risk. More
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