Housing credit: Is it worth hiring?
Is it worth it to take out a home loan? Understand the factors you should consider when weighing the decision.
What should be considered when hiring a home loan?
To contract a mortgage implies entering into a long-term debt in exchange for the acquisition of a property.
This is a decision that must be well considered in light of its advantages and disadvantages.
We will then see, factor by factor, if it is worth hiring a mortgage loan.
Consider other options before
Firstly, consider various options, such as somehow paying for the property upfront, as resorting to credit will end up costing much more in the long run due to associated costs and interest.
Therefore, only in case of not being able to acquire a property, it is advisable to resort to a housing loan.
Do you have the financial capacity to support the installments?
Afterwards, you must take into account whether you have the financial availability to repay the loan amount through monthly installments.
Mortgage credit generally compromises around 30% of the monthly budget.
Consider the total cost of the loan.
When wanting to hire a home loan, remember that the loan process involves other costs: bank commissions, taxes, mandatory insurance, plus interest.
Therefore, always look at the total cost of credit and consider based on that value.
Get the lowest interest rates
In the conditions offered by banks in mortgage credit, you will notice that interest rates have a great weight.
The chosen regime - fixed, variable, or mixed interest rate - will therefore impact the amount you will pay for the loan.
So, it is essential to look for the lowest rates in the market and be informed about the various regimes. To do this, you can rely on a credit intermediary like Poupança no Minuto that helps you choose the most advantageous proposal for you at no cost.
Even with credit, you are acquiring your own assets.
Even if you are doing it through credit, acquiring a property means you are acquiring your own equity, unlike when you rent a house from a landlord. This brings additional security.
In addition, with time and other circumstances, the property may appreciate and may be able to sell it later for a higher value than purchased.
In other words, buying a property using a housing loan is worth it when the conditions offered are the most advantageous, if you have financial capacity, and it is a long-term project.
Secure the best market conditions with credit intermediaries from Poupança no Minuto, in a cost-free process. Simulate your new mortgage now: