In addition, 100 thousand TL for my readers who say how much interest I would pay, we have made a sample loan calculation of 100 thousand TL with a maturity of 120 months . Here are those who are curious about housing loans with all their details
If you do not have a certain accumulation, you can take advantage of 120-month housing loans if you want to buy a house or invest in the requirement. This type of loan is a type of financing that is used by banks with a maturity of 10 years provided that the house to be purchased is secured. Usually fixed interest rates are applied throughout the term of the loan.
It is a new way of life where you prefer to pay the loan installment instead of paying rent. Before moving on to this lifestyle, you need to investigate in detail the banks that offer housing loans and interest rates to be operated on the amount withdrawn.
In addition to interest rates, you should pay attention to factors such as lending rate, bank commission, file costs and annual cost rate to reach the most appropriate housing loan option.
120 Month Term Housing Loan How to get?
In order to get a 120-month mortgage , you must first identify the bank that suits you best and apply. Since the required documents vary from bank to bank, you can learn the required documents from each branch according to the working policy of each institution.
Following your application, both the documents you submit and your credit registry are reviewed. If your credit is approved after this review, real estate appraisal experts are involved.
The value of the property you want to buy is determined by the experts and a quarter of this value is required to be paid in advance. After depositing the specified down payment, you can become a host by paying your monthly installments over the interest rate and maturity to be applied during the duration of the contract…
120 Month Term Home Loan Calculator
Since the bank interest rates are variable, you can easily find the loan that is most suitable for you by calculating 120-month housing loan . Of course, interest rates are important in all types of loans. However, due to the long maturity of housing loans, even small differences between interest rates are of greater importance.
Because the small amount of the withdrawal is high, the loan repayment may have serious repercussions as a figure. Therefore, if you intend to take out a mortgage with a 10-year term, you must take into account all the elements that the bank will reflect on your repayment.
120 Month Term Mortgage Interest Rates
When we examine the current interest rates offered by banks for housing loans with a maturity of 120 months, we see that Good Finance Bank offered the most appropriate loan with an interest rate of 0.88 percent . With a interest rate of 0.92%, Honest has a housing loan product that understands the yellow window .