Thanks to inter-bank competition, there is a growing need to tailor flat-rate buying loans to individual needs, making it possible to choose from a variety of designs that help customers in the home-making process through various repayment options.
Customization of home purchase loans
It is possible, for example, to apply for a home purchase loan with a monthly installment of the same or moving amount, or there are special arrangements that allow you to pay only interest in the first three years, and then only to repay the installments after the expiration of the deferral period.
There are, of course, already combined home purchase loan schemes that can be used with a home insurance fund contract or life insurance. In this case, the borrower does not have to repay during the life of the savings period or life insurance, because in this case the client pays the amount of the principal repayment into the investment product, which is later deducted by the bank from the amount saved so far.
Since state subsidies and deposit interest are also due for monthly home savings
The bank’s total amount of debt will be reduced at the end of the savings period. When combining a home purchase loan with life insurance, it is also covered by credit insurance, which means that in the event of the customer’s death, the insurer pays the bank the full capital deposit, so the debt cannot be inherited in the family.
The home loan associated with insurance is not so popular because the stock market can influence the amount of repayment to a great extent, so it is the ones who choose to move around the stock market. The construction associated with the homeowner cashier is much more chosen, as its risk factor is much smaller than that associated with insurance.
Whatever your home purchase loan, be sure to check out the current credit facilities of financial institutions, as you may notice a difference of several million forints between different banks.