postheadericon Surprises with the Perfect Mortgage Options Here

We have seen and read a lot about mortgages, and many people have problems that are not really there. Below I’ll try to tell you about the unobvious, but simple things in a mortgage loan regarding payments, type of payment, etc. Of course, it’s better not to get into debt, but if there are no options, and they are not on the last money, then you can safely read on.

The most important thing that you need to understand before taking a mortgage loan – the percentage that you pay monthly to the bank, for the money it takes depends only on:

  • The amount of the mortgage loan (or rather the amount of the principal debt, which decreases monthly)
  • Neither of the loan term, nor the type of payment it does not depend on. Remember this.
  • The term of the mortgage, the type of payment, the type of early repayment is in fact always determined by you, and not by the bank, but it works only on the condition that you can pay a larger payment than by contract with the bank. You can count with the mortgage broker Geelong .

Yes, there is a difference in overpayments for a loan because of the terms or type of monthly payment, but it is only relevant if paid within the entire term and without early payments. My general principle of taking a mortgage is to calculate the option with the maximum payments and the least overpayment for the loan, but to take with minimal payments and try to pay according to your maximum calculations, so there will be a maneuver for financial force majeure, but discipline is needed.

The Calculations

Even if by your calculations you can draw in the mortgage amount X for 3.5.10 years, take this amount for a maximum period (20-30 years) with a minimum monthly payment. But at the same time, you must pay monthly the amount that you expected at the time of 3.5.10 years. Ie, for example, you can afford to take a mortgage for 5 years with monthly payments of 50t.r, take 30years with a monthly 20t.r. But monthly pay the amount of 50 ie. Basic + early repayment = 50t.r. Thus, you will actually have a 5-year mortgage, but in case of financial problems, you will always have the opportunity to pay less than 50, from 5 years you would have to find blood from your nose 50k per month. With such an approach and an annuity payment, in a year the compulsory payment will already be no longer 20t.r. but less, i.е. every month you will make more early payments,

The type of payment is not important if you can pay the maximum possible payment options. If you want and can afford a differentiated payment, and the bank only offers an annuity payment, make a monthly payment with the missing amount as for diff. and get a virtually differentiated payment.

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