Good Finance, said many details of the new grants available from July have been revealed, but it is only when the final legislation is known that the new grants can be analyzed.
“It is certain that families with two children and families with three or more children who are eligible for a home loan (family loan) will be able to cancel their loans by several million forints lower than market solutions,” he added.
How much better?
One of the most important steps is that in the future families with two children who fulfill the conditions can apply for a 10 million HUF loan with a fixed repayment installment for the purchase and construction of homes. Good Finance estimates that the monthly repayment of a $ 10 million mortgage loan over a 20-year term can range from $ 55 to $ 56,000. A total of 13.3 million HUF has to be repaid. In mid-February, banks will offer a market-based home loan with the same parameters to the tune of HUF 69-85 thousand, and the total repayment amount may reach HUF 16.5-20 million. As a result, households with preferential borrowing can expect to spend at least HUF 3-3.2 million.
Families with three or more children can also apply for a home loan of up to 15 million HUF at a fixed and discounted rate. This means a monthly repayment of HUF 83-84 thousand and a total repayment of nearly HUF 20 million to the lending bank. Good Finance estimates that a $ 15 million mortgage on a market basis would cost $ 102-130,000 a month, depending on the bank. In the course of 20 years, the bank will have to repay more than HUF 25-30 million in total. So in this case , the advantage of a chocolate home loan can be up to more than 5 million HUF . In addition, the total repayment may be reduced if the affected families bear new children. At the birth of the second child, the state takes over HUF 1 million from the housing loan debt, the third takes over HUF 4 million, and the capital debt decreases by another HUF 1-1 million for each additional child.
Where, how much self-sufficiency does an apartment have?
In Debrecen, more than 4 million can be invested in the purchase of a 20 million HUF flat. In Győr, 3.7 million forints and in Szeged 3.4 million forints are needed for the 18.5 million and 17 million forints 50 square meters residential property.
Good Lender added that the situation of families with many children is easier because many of them already have an apartment and can use the proceeds of selling it to buy their next home.
Pointed out in connection with home loans that loan experts can provide significant assistance to families interested in subsidies on the exact terms and conditions and possible expenses related to borrowing. Expanding the state subsidy system will enable many more families to take out a home loan, but it is very important to make a conscious decision, because home loan is a decade-long commitment.
This opportunity should only be exercised if the family concerned has the necessary financial resources to repay their loans in the long term . Credit experts can also provide effective help in mapping out how much monthly spending a household can safely commit to.