What you should know about mortgage loans

What you should know about mortgage loans  


Buying a home in 2020 is a goal for many Portuguese. If you are about to embark on the adventure of buying a home but need to get a mortgage loan, here are some tips that may be valuable.

-Consult multiple banks and run various simulations for various choice and terms of comparison.

-Pay attention to the loan terms because the shorter the loan term, the higher the repayment, but the less interest you will have paid in the end.

-Compare the APR, the lower this is, the cheaper the loan will be.

-Negotiate the spread value. Having a lower spread does not mean a cheaper loan. One factor that influences the spread is the initial input, the larger the spread, the better the spread.

-Consider the advantages of fixed interest rate, variable interest rate and mixed interest rate.

With a fixed interest rate, your repayment will always be equal over the lifetime of the loan or over a certain period of time.

The variable interest rate varies depending on the economic situation of the country. In times of economic growth, the variable rate goes up, and in times of crisis, the rate goes down.

In the mixed interest rate, the credit agreement has a period in which the rate is fixed and another in which the rate is variable.

Borrowing from the bank is a definitive decision that requires a lot of thought. Becoming fluent in the terms used by banks in these processes is essential to making the best decisions. Inform yourself and make a conscious decision.

The Mouzinho de Albuquerque Building apartments may be the best option for you. Contact us, come visit them and choose the typology that best suits your needs and taste.

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