There has been talk about falling interest rates on mortgage loans. However, what is the cause of this situation and how do we benefit from it?
This fall is the result of the economic slowdown. The Sunflower Bank launched a fixed rate for its mortgage loans of 3.5%, this offer moved the land to its competitors since to date rates between 4.1% and 4.2% had been offered.
Consequently, banks are offering more accessible loans, especially those banks that are still looking for participation and growth.
So following this situation, what is recommended to the user?
The person should know that this is a good time to take a mortgage loan, but should not forget the following:
Evaluate each bank
Although the rates are low, it does not hurt to make a comparison between all the banks, to choose the one that best suits your comfort, but especially to your pocket. It is also important that you take into account the conditions that each one imposes.
It is necessary to choose a bank whose rate is not variable
That is, the one that does not increase over time, since the case may occur in which the credit ends up being greater than the initial figure.
Pay according to how you get paid
If you have already chosen a bank, ask that your credit be paid in the way you receive your financial income either in UF or pesos.
What do I do if I already have a mortgage loan?
If you already have a mortgage loan, you can request a rate reduction as long as you have paid 40% or 50% of the payment deadline.
In conclusion it is a good time for those people who already plan to buy a home, but it is essential that they first inform themselves about the benefits and disadvantages that can cause their economy, because as you know with money you do not play.