Is it worth getting a mortgage?
Is it worth taking out a home loan? Understand the factors to consider in the decision-making process.
What should be considered when contracting a home loan?
Taking out a mortgage implies taking on a long-term debt in exchange for the acquisition of a property.
Therefore, this is a decision that must be carefully 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 several options, such as if you can - in some way - pay for the property in cash, because 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 should consider if you have the financial availability to repay the loan amount through monthly installments.
Home credit usually accounts for about 30% of the monthly budget.
Consider the total cost of the loan.
When wanting to hire a home loan, remember that the loan process entails other costs: bank commissions, taxes, mandatory insurance, plus the interest.
Therefore, always look at the total cost of credit and consider based on that value.
Obtain the lowest interest rates.
In the conditions offered by banks in home loans, you will notice that interest rates have a major impact.
The chosen regime - fixed, variable or mixed interest rate - will impact the amount you will pay for the credit.
So, it is essential to look for the lowest market rates and be informed about the various schemes. To do this, you can use a credit intermediary like Poupança no Minuto that helps you at no cost to choose the most advantageous proposal for you.
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 renting a house from a landlord. This brings additional security.
In addition, over time and under other circumstances, the property may appreciate and you may be able to sell it later for a value higher than what you bought it for.
In other words, buying a property using housing credit is worth it when the conditions offered are the most advantageous, if you have financial capacity, and it is a long-term project.
Ensure the best market conditions with the credit intermediaries from Poupança no Minuto, in a cost-free process. Simulate your new home loan now: