We have discussed many times that credit is a good thing, because through it we can get to the real estate of our dreams (and then to the next). Of course, it is clear to all of us that there is a difference between loan and loan. Especially if you not only borrow a loan smoothly, but also “save” it in a variety of ways. Here’s a clever option:
Do we aim for a shorter duration?
It is often thought that we would rather take a higher monthly repayment to “get rid of the credit sooner”
Is it worth recounting that we are really doing better? Either we use almost all our money for self-sufficiency or is it worth setting aside some money for a good investment? In these questions, only numbers, specific numbers, can help us.
Credit for different maturities
We usually take home loans for 20 years. The monthly installment of USD 8 million is USD 42-45 thousand according to our loan calculator. At 25 years, it is only 35-38 thousand USD, and at 30 years it decreases to 31-34 thousand USD. That is, the difference between the 20-year-old and the 30-year-old installment is about 10 thousand USD. Let’s use it wisely!
Think of an apartment saver (calculator here). If we save the 10,000 forints saved on the loan to 20,000, we will have 3 million forints without the installment with a 10-year home savings. If we prepay it to our loan, we will have a debt of USD 4 million in the worst case, with a monthly repayment of about USD 20,000 for 20 years.
And this trick can be done once more, or even for shorter runs. We can either pay off the loan for less time or spend less money on it. Of course, the best solution is to start with an investment or savings with a shorter maturity.
We help you get the best of it
We also wrote this article specifically to help you see that borrowing is not just about finding the loan that gives you the smallest installment with the help of a calculator on the internet. It is worth looking carefully and finding a good solution and construction as soon as possible.
And you can’t find a better partner than us in your search. Loans do not exclude the possibility of saving, in fact, only in this way will it be really good. Contact us! And we bring you every opportunity to borrow money so that you are satisfied not only at the beginning but also at the end.