To borrow to buy a house
Home buyers generally will not have enough cash to pay for the house. So when you decide to buy a home. Approximately 20-30% of the down payment, then another large sum to about 70-80% to be paid to the owner or seller would have to borrow from financial institutions to borrow money, the point is to go where?
1. The borrower must be careful
You are the one who is planning to buy a home. Or buy and the down payment to buy a house for awhile. Later, you will need a loan to pay for the deficit to vendors. The loan The need to act carefully. The dream of having a home of their own is not sustainable real problem comes later. Loans for house purchase There are issues that need to be understood. Or several such decisions to recover the amount. How long will recovery Loans are fixed or floating interest rate, the better. How much will be deferred annuity Annuity payment associated with the loan period and loan interest rates. A loan with the bank as well. The loan must have evidence. How long does it take to get the loan approved. The basis of the Bank to approve loans. If the loan is not approved, then the bank borrowers. Or the borrower has little to do. Why borrow money and mortgage valuation. To borrow money to pay what. These so For this documentation Geared to let you know the basic guidelines in choosing a financial institution. This type of mortgage loan mechanism, including procedures for applying for loans to buy housing until you get a loan.
2. The selected financial institutions
The financial institution will lend you to buy a home with a lot of banks, including Bank of Bank of Thailand. commercial Bank Finance companies Companies which present these financial institutions. Competed in lending to public issues is where you should be recovered. To help save the most money. And you get the most comfortable. These conditions are in line with your needs as possible, so you need to find information about loan rates. Conditions Recovery And other expenses that may come up, then choose the financial institution that benefits you the most. When you request information from these financial institutions. May consider documents from brochures to see the web site, call the financial institution or media such as books, magazines about home buying. You may wonder whether each institution has different loan rates. The conditions and the recovery. Costs that vary with.
3. Compare rates Conditions Recovery And Services
Compare the interest rates and terms of loans between financial institutions so. Rather complicated enough so to help you understand the issues. Loan on better It presents a list of the main consideration of the interest rate on housing loan. The proposed loan market Interest rates are often several different models. Customers choose from:
1) Floating rate loans (Floating rate loan).
Means to determine floating interest rate loans. At present, the interest rate is set by the announcement. Take a while And later (in 20-30 years) may be adjusted up or down according to the financial market situation or the financial costs of financial institutions. The adjustment to this new When it is fine Can not know in some years may be adjusted several times. Some years, no modifications at all due to change in interest rates may affect the annuity payment each month. Especially if interest rates rise in the monthly annuity payments previously may need to be adjusted higher.
2) Fixed Rate Loan (Fixed rate loan).
2.1 fixed interest rate throughout the loan period. Means the loan interest rate is fixed or rigid announced by financial institutions as borrowers by adjusting up or down according to the financial market situation or the financial costs of financial institutions so that the annuity payments each month. It will continue throughout the long recovery period 5-10-15-20 years, as the borrower chooses.
2.2 Short-term interest rate steady at first, then a floating rate.
Means the loan interest rate is fixed term of about 1-5 years later to be converted to floating interest rates. Which may be higher or lower than the fixed rate was the same as the financial market situation or the financial costs of financial institutions at that time.
2.3 Fixed rate short step ladder in the first period, then a floating rate.
Means the loan interest rate is fixed term of about 1-5 years, but in the meantime. May set a fixed ladder fixed as the first three years was 3.25%, 4.25% the second year, third year, 5.25%, and is then converted into a floating interest rate. Which may be higher or lower than the fixed rate was the same as the financial market situation or the financial costs of financial institutions at that time.
3) loan at a fixed interest rate and a fixed all the time (Rollover Mortgage Loan).
Refers to a fixed rate loan, such as a three-year or five years and fined a fixed time every three or five-year cycle.
Throughout the long recovery period of 25-30 years, for example, the Housing Loans Money Bank. And banks The current loan interest rate is fixed for each period based on the cost of the bonds plus 2.5% as the cost of bonds, 5% interest rate will be equal to 7.5%, the real interest rate announced by comparison.
Once you know which financial institutions offer different types of loans available. Next, you must consider the comparison. "The interest rate is announced by" how much I make. Under each other? Generally If the same type of loan Interest rates as low as possible It will benefit you the most, because interest rates are low. To make monthly installment payments under the loan as well, however, not just short-term loans only if the loan up to 2-3 years, 20-30 years, so you have to look at the trend in interest rates. Or lending policies of financial institutions in the long term.
There also need to consider the terms of the loan servicing and other loan costs include costs to the borrower in the loan interest rate will be the subject already. You have to look at the costs of such.
- The valuation of collateral by financial institutions will have to charge for valuation of collateral. Each financial institution will not be equal.
- Fees for loan Currently, most banks charge a loan or otherwise called as fees for credit analysis. Bank loan management fee, but this fee is not charged.
- Fees mortgage with the Land Department to get a loan, then the loan. The mortgage must be registered with the Land Department. The borrower is required to pay a fee of 1 percent of the loan amount under the law.
- Mortgage early redemption fees (prepayment penalty) Most financial institutions. Charge early redemption mortgage. Especially if they are all settlements. And refinancing to close to within three years of the loan, the individual will think a little differently.
Lending conditions also.
- Facility Generally, lenders will finance about 80 percent of the appraised value. Price or trading houses (Depending on whichever is lower) However, certain types of loans, such as loans for housing benefit to employees, government officials or employees of state enterprises. Lenders may be as high as 90 percent, or 100%.
- In the past, loan recovery period. Often requiring longer recovery period of about 15-20 years, despite the current Bank and other financial institutions, most lenders will even loan up to 30 years for monthly annuity payment will be even lower. However, most financial institutions usually require a period of recovery, combined with the age of the borrower shall not exceed 70 years, if the age of 55 years to recover a maximum of 15 years onwards.
- Annuity repayment regular annuity payments. Will be paid a monthly fee of course. If the borrower's monthly repayments regularly. The loan expires at the end of the loan agreement, however, the case of floating rate loans. Some financial institutions may charge for the period. By calculating annuity rates higher interest rate as announced by the announcement of 6.5% per year for calculating annuity. Might think that the interest rate increase by 1-2% from the rate of 7.5%, or 8.5%, for example.
This is to prevent risk to the borrower. When interest rates rise in the future. Borrowers do not have payment increases. I think I already But if interest rates do not rise in the lower back or annuity payments on your loan than it would be to cut more than usual. And to make loans more quickly than stipulated in the contract.
- Principal cutting - cutting interest annuity generally annuity monthly repayments. Will include interest accrued each month. And the principal portion of the annuity in the first years of repayment. Will pay interest on the majority. And will cut capital a little, but in recent years the principal amount will be increased accordingly. This policy has caused a gradual decline in a month, respectively. The center is in the final year of the loan agreement.
In case the borrower Loans with floating rates Financial institutions usually allow borrowers to pay higher than normal for the period. The payments exceeded the It will cut down the loan. As a result, the debt more quickly than that specified in the contract. However, the loan interest rate fixed by the financial institutions are set to pay the same amount every month. You can not pay more Services provided by financial institutions In choosing a loan with any financial institution. In addition to interest rate factors and conditions. Borrowers may also consider other factors, such as ...
1) facilitate the loan and the borrower can apply for a bank loan to the office or elsewhere. Easily Do not waste time and money on travel.
2) The speed of the recovery and the borrower can know the loan. Or get a loan quickly as desired, such as two weeks or sooner.
3) facilitate the repayment of the loan as the borrower can repay the bank accounts of several widely.
4) welcomes and serves as a fine example of hospitality and comfort of employees. The hospitality is great And services like willingly. And impressive
5) educating and counseling as well as providing insight. And guidelines on various aspects of the loan and sincere friendship.
6) The image, reputation and stability of the bank, including a good image. The longstanding reputation in providing housing loans. Security Bank
4. loan
After you compare the interest rates. Terms of Loans And services already You can choose the loan with the financial institution to which you are happy to be the key step.
4.1 Preparation of documents loan applications. To borrow money to buy a house or condominium, financial institutions often require borrowers. Must bring the following required documents are complete.
1) proof of identity, including
- House registration documents
- identification card
- Marriage or Divorce Or death certificate
- Copy Rename currency (if any).
2) proof of income include.
G a regular income.
- Salary certificate Or proof of income / salary paid by the employer.
- Passbook Bank
B. Who are self-employed
- Copy of trade Or Certificate of Incorporation
- Deposits and current account statement for the past 6 months.
- Proof of income or other assets.
3) evidence on securities and trading.
- Copy of Deed Or a copy of title units
- Map showing the location of the land collateral.
- A copy of the agreement of purchase and sale. Or deposit contract
- If you buy penthouse Must have a copy of the certificate of registration of the condominium.
4) other evidence
The loan for the construction or renovation need.
- The Building
- Building permit or building an addition.
- Letter of Intent buildings or building an addition.
The borrower is required to redeem the mortgage.
- Loan and mortgage contracts from financial institutions.
- Statement installment payments in the last six months.
If a co-borrower
Would require private And proof of the borrower's income, supplemented by regular borrowers will have to provide evidence of such. The loan in full if not full. Officials could not get it Or may be subject to borrowers and lead evidence to show more. The borrower should be brought to the authorities within three days so as not to make an analysis and loan approval is delayed.
Because there are many banks and financial institutions. Competing loan When buyers purchase a new home from housing. Or through brokers These companies Often contact the financial institution that is a credit to facilitate the customers to borrow money from financial institutions, most of which is commercial banks. Or finance companies that provide financial support to develop projects that will equate simplicity. Fast buyers could borrow from financial institutions, vendors, service records. The vendors always give the table a loan (or a brochure from the bank) to the buyer. Which specifies the amount of down payment And the amount to be borrowed from the bank that amount if the loan duration (10 years, 15 years, 20 years, etc.), how much interest rates. How much to pay each month, but the buyer did not need to borrow. From the bank, he was contacted to see if the interest rate. The loan is higher than other banks Because the borrower has full rights To choose a loan from any bank as they see fit and are most beneficial to their loan. To buy a house
On preliminary data, remember to call their attention to the bank or lender directly to request details. Bank near their home or office to know the details. More clearly
source : www.konbaan.com
www.ghbhomecenter.com
วันอังคารที่ 13 กันยายน พ.ศ. 2559
19:28
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