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Loans for house construction cost house

loan on a house

incurring a loan on a house you have to remember that this is a big commitment from which there is no turning back. Zadłużając on several or dozens of years you can not predict how much your income will amount to in the future, the more you are able to predict whether something will happen which may disrupt the opportunity to repay the loan. Therefore, taking a loan you make the right choice, because the choices you make will affect your future. In this article I will try to circle the number of key issues concerning the construction of your home loan.


loan on a house - how long

incurring a loan for a house to try to repay the time as short as possible. With credit for 30 or 40 years, the lease payments are lower, it happens at the expense of the interest. Today's standard credits in time 20 or 30 years. I would add quite a valuable piece of information - most banks lend until retirement. So if you are a man aged 35 is likely to receive an offer of credit with the time of repayment of no more than 30 years (retirement age for men is 65 years for women and 60).


loan on a house - whether the zloty currency

In what currency to take credit for the construction of a house - there's no clear answer.
great advantage of foreign currency loans are substantially lower interest rates on loans denominated. Therefore, by taking out a loan for a house, you will pay less interest when you repay the loan. The difference is huge. Monthly installment loan rate is part of this installment in our currency.
However, small "but". Loans for house typically incurs a few decades. In such a long time in the financial market conditions may change completely - the debt in another currency carries the foreign exchange risk. This means that the value of loan repayments and the amount of installments changes, which depend on the exchange rate in which it was downloaded credit.
There is an old saying - who has not ventured, nothing is. If you decide to risk it and take credit in foreign currency, you will find out whether it is possible (and what is the price) during the conversion loan agreement. Create a safety margin, would you say in the case of any increase in the exchange rate could continue to pay in installments. At the end of the "obvious fact" which borrows a loan on a house where foreign currency is expensive.

But if you do not lose the nerves, sleep, consider downloading the credit for the Polish gold. Interest on these loans is decreasing, and as I wrote the future foreign exchange rates is unknown-consider this. Moreover, it is worth noting that it was taking loans in the currency of our financial market analysts recommend.


not fully exhausted the subject, so in early April, expect a continuation of this article.