News about “ housing loan interest rates decreased ” started to increase in all media sources. The steps taken by both the state and the private sector to prevent stagnation in the construction sector have not yet had a major impact. On the other hand, due to the increasing construction costs, it is a matter of curiosity that there will be more relaxation in housing prices. We tried to summarize the issues to be considered when applying for a mortgage loan in order to distribute the confusion that may arise when people waiting to buy a house decide to act.
We have witnessed that almost all banks, especially state banks
Have reduced vehicle, housing and consumer loan interest rates.
We have determined that the housing loan monthly interest rates to be requested with a 120-month maturity are as follows for the three state banks;
- Cream Bank housing loan 1.28%
- Best Bank mortgage loan 1.28%
- Lenders Bank housing loan 1.49%
As you can see, although they are all public banks, they can naturally make different pricing. Therefore, even if there is a state bank, it is necessary to pay attention to the interest rates to be applied. Of course, when comparing, the number of maturities and installments should be evaluated equally for each bank.
120 months maturity and TL. We have seen that the monthly installment amounts of the housing loan to be requested from three banks for 100,000.- are as follows;
- Cream Bank TL. 1635.47
- Best Bank TL. 1635.47
- Lenders Bank TL. 1794.13
Comparing the interest rate to be applied to housing loans with banks can be considered as the easiest part of the job. However, it is important to remember other costs that you need to pay attention during the mortgage loan phase.
Some banks can only report the interest rate when calculating the annual cost of the housing loan. However, some other costs you will have to affect will affect this cost.
The loan allocation fee
The appraisal fee to be made for the immovable mortgage that will constitute the guarantee of the loan and the mortgage facility fee are the leading ones. Housing Insurance and Compulsory Earthquake Insurance premium amounts are an issue that should not be forgotten. Also, life insurance premiums, which can be counted as loan guarantees and envisaged, should not be ignored in the calculation.
Although it is not considered as a cost, it may be requested by the bank to open an Open Account, apply for a credit card, and give a certain number of automatic payment orders during the use of the housing loan. Even these instruments, which we can count as cross marketing elements, can affect your mortgage interest rate.
Interest rate is not everything
These are the main information you need to obtain from banks when requesting housing loans.
On the other hand, there are some discounts applied by the state for those who are considering buying a house. These discounts are the type to support your decision to buy a house.