Sometimes it is said that credit is the privilege of the rich. Well, that’s a pretty interesting statement, but it’s true that borrowing isn’t really a free process. We can save an enormous amount of money from the choice of loan to the disbursement if we take due care. Let’s look at these costs!
The credit selection
The first, and perhaps most important, is finding the right credit. That’s why it’s a good idea to use the loan.com credit calculator , as we find astonishing differences in loans. Let’s take an example: Take a $ 15 million loan over a 20-year period!
According to the loan calculator, the first offer is the Budapest Bank Forint Equity Market Equity Loan, which costs us $ 80,733 per month and returns a total of 19,404,743 to the bank in 240 months.
However, if the roller rolls to the bottom, you will also find an offer for $ 25,000 a month. This is a total of $ 32,479,053 which we will repay throughout the term. The difference is more than USD 13 million. There is obviously a difference between interest periods, but this is an obvious amount to look out for.
Costs related to the property
We cannot go without saying that there is a cost to the selected property. This includes, for example, the appraisal fee that is charged to us. Its size is about 20-30 thousand USD. Later on, home insurance will be a condition of the contract, but its value depends on the size and condition of the property. Also, do not forget to ask for a property certificate, which is around 8,000 dollars.
The contract is also free
Certainly, when we start buying a home, we don’t even think we have 2 contracts, the cost of which is on us. First of all, we have to conclude a sales contract for the property, which is 1% of the contract amount.
Then, when we have passed a successful credit assessment, we sign a contract with a notary before the bank, the fee for a 15 million dollars loan is 65 or 130 thousand dollars , depending on whether a unilateral commitment or a bilateral notary is required.
One hundred words are over, there are many costs, but we can help. Contact us! And we are going to fight for the benefits you feel in your wallet.