Effective Real Estate Solutions in Selayang apartment
A number the bank calculates to see if you can borrow money. It is calculated by dividing your total debt, e.g. The loans and overdrafts, by your income before tax. If you are going to borrow for a condominium, the figure must not exceed 1.75 times your household’s income before tax.
In order to react to a home on the market, you should have proof from the bank of how much you can borrow. If you get a loan certificate, you can react faster when you find an apartment you would like to buy.
When you buy an owner-occupied Selayang apartment, you borrow most of the amount from a mortgage company. Here you can borrow up to 80% of the price of the home, and you get a lower interest rate than at the bank. Or if you are not interested in that neighborhood, try and check out the Puchong Kinrara condo for rent or apartment for sale Klang.
If you need to borrow more than 80% of the price of the home, you can borrow an additional 15% via a bank loan. Thus, you must be able to add a minimum of 5% of the price of the home, plus costs for a lawyer, registration etc.
For example, if you have to buy an apartment for 1 million, you must have saved up at least DKK 50,000 yourself. You can then borrow DKK 800,000 via a mortgage loan and DKK 150,000 in a bank loan.
Loans with a fixed or variable interest rate
When you need a mortgage loan, you can choose between fixed or variable interest rates. A fixed-rate loan has a higher interest rate, but you know what to pay each month and the loan secures you against interest rate increases. With a variable loan, you get a lower interest rate, but you risk that it rises and that you will pay more in periods.
You should always get the sales list from a real estate agent if you are interested in an apartment. Here you will find information about the price of the apartment, floor plans, electricity, water and heating supply as well as information about the owners’ association.
Covers the current expenses associated with living in the home, in addition to electricity, water, heating and loans. This can be, for example, property tax, property value tax and insurance.
Owners ‘association and owners’ association contribution
Association of the building’s owners, to whom everyone pays a monthly contribution. The owners’ association contribution is used for maintenance and major renovations, such as a new roof or downpipes. Be careful if the owners association has a low contribution. This can mean that major renovations to the building require you to put in a lot of money at once. For more related articles, click here.