Everyone struggles with financial problems from time to time. Regardless of how much we earn, after all, the higher the income, the more needs we discover. One of the fundamental needs is the need to have an apartment. We need a place where we can relax, prepare a meal, take care of our own hygiene and take shelter at night. Of course, a good option is to rent a flat.
In exchange for several hundred zlotys a month, we will be able to live in any apartment of our choice. It is extremely convenient, especially if we are young and have not yet started our own family. Rental does not attach us to one place. At any time, we can terminate the contract and find another flat in another area or city. Thanks to this, we demonstrate high mobility, and this is undoubtedly a big plus in the eyes of employers.
However, if we need a sense of security and stability, we should take care of our own angle. In our own apartment, we can feel more comfortable and not worry that the owner will come one day to terminate the lease. Own apartment is freedom, but not everyone can afford such a purchase. The more that prices on the real estate market are currently excessive. However, there are ways to finance a flat without having to pay the full amount.
Of course, the most popular way is to take out a mortgage.
Of course, we must meet certain conditions to receive such a loan. First of all, we should have creditworthiness. This means that we must be employed under an employment contract. The amount that the bank is ready to lend us depends on the amount of our remuneration. It’s also good to have a credit history. It can be even bought in installments microwave, which we repaid on time. Certainly, such a story will allow the lender to look at us more favorably.
Having an own contribution is also an important issue. Each bank has different requirements, but the vast majority require such a contribution, at the level of 10-20%. However, if you do not have enough cash, you can still apply for a loan. We just need to show security in another form (e.g. car). Of course, loan installments will be felt financially for us. However, in most cases, the monthly installment is comparable to the monthly rent.
The undoubted advantage of housing on loan (compared to renting an apartment) is that after paying back the loan, the apartment becomes our property. Therefore, installments should not be seen as costs, but as an investment. Even if we already have our own apartment, we can tempt a mortgage to buy another one. For what purpose? In order to earn. If we buy an additional apartment, we will be able to rent it.
Money from the rent can be used to pay the loan installments, and after several dozen years we will be able to enjoy another, our own apartment. This is an ideal way for passive income. Thanks to the additional apartment, we will not have to worry about insufficient money in retirement.
There are many credit products on the market, offered by various banks.
How to choose the best option for us?
Certainly, a tool worth using is a mortgage loan comparator . Thanks to it, we will be able to easily check all loans offered by banks. This is very important because each bank offers loans on its own terms. To choose the one that will be optimal for us, we need to read all the offers.
The comparison tool makes all the information we need to make decisions in one place. We can easily check the interest rate on all loans that interest us, or the amount of other fees that we will have to pay for the bank when taking out the loan. In this way we will be able to make a rational decision. We should also remember to check the credibility of the bank where we intend to take a loan before applying for a loan.
There are many so-called parabanks whose practices are not always completely ethical. Always read the contract carefully before signing. Especially if we are talking about such a serious contract as the mortgage contract. After all, this is a commitment that we often sign for several dozen years, so let’s make sure that we do not regret signing it.