Nowadays, everyone in our country is likely to have come across the subject of home purchase and home loans, even if through acquaintances. Those who claim that it is not easy to get your own home these days can only partially agree.
It is true that house prices are skyrocketing, especially in the capital, but we do not have to stick to second-hand homes at all costs, but we can also look at new builds, thanks to interest rate subsidies and increasingly popular mortgage loans.
There is nothing better than a state-subsidized home loan!
Some people do not know much about CSOK10 + 10 home loans, so here is a brief introduction. We will briefly explain what is the big advantage that puts it ahead of other home loans, why is it considered to be Hungary’s most advantageous loan?
A government grant of $ 10 million, which is non-refundable and is accompanied by a $ 10 million interest-subsidized home loan if the conditions are right for applying for the loan. Families have a big advantage with the first $ 10 million when buying a home. The detailed description of the product also convinces everyone that the other $ 10 million home loan is a huge benefit because of the interest subsidy, we can say there is no better home loan in the credit market.
According to the regulations, the 25-year loan will have a favorable interest rate subsidy and the rate will be 3% fixed interest rate.
There is no credit on the market that can compete with this home loan
When comparing home loans, we find similar favorable loans only for those with variable interest rates within a year. The interest, which changes several times a year, immediately pulls down the installment payments – it increases.
The CSOK 10 +10 loan is the only one where the borrower can feel safe, no matter what the interest rate increases, the state subsidy will increase to such an extent. The State will increase the subsidy in order to ensure that the beneficiary borrower will not have to pay more than the required 3%.
Let’s compare the new loan to the previous, similar conditions
Let’s look at how many years interest subsidy is fixed? 5 years from the bank’s side, so similarly, we also need to look at a fixed rate loan for a 5 year period. The best unsecured home loan is currently 4.4%.
The 10 million HUF loan for 25 years has a monthly repayment of 56,000 HUF. It can be applied for 3% of the subsidized loan and costs $ 47,000 per month with similar terms.
Over 25 years:
– we pay out HUF 14.2 million in subsidized interest loans,
– if not subsidized, nearly 16.5 million.
According to the above, CSOK has the advantage of almost HUF 2.3 million ahead of 25-year average home loans, whose interest rates are likely to increase during this time and to jump higher than they are now. CSOK’s interest rates remain unchanged and no minimum increase is expected due to the offsetting of the subsidy.