Apartment buyers at Khai Hoan Prime project, Nha Be district, Ho Chi Minh City will enjoy a flexible payment policy, divided into 27 installments over 2 years, with a payment rate of only 1% per month. At the same time, customers will also receive support for bank loan interest and principal with 0 VND to be paid in 24 months, meaning they do not need to pay any interest or principal during this period.
Another investor, Gamuda Land, informed that it is offering a policy to support customers who want to borrow money to buy apartments at the Eaton Park apartment project in Thu Duc City with a fixed interest rate of 7%/year for the first 3 years....
Bcons City apartment project of Bcons Group is also applying loan interest rate from 6%/year, with principal and interest grace period policy for 24 months. This helps customers not to have to pay principal in the first 2 years from the date of signing the contract...
Many other investors in Ho Chi Minh City also implement home loan policies with interest rates from 5.5% - 7%/year, principal and interest grace period lasting 24-30 months, creating favorable financial conditions for buyers.
Home loan interest rates at commercial banks have now dropped sharply compared to 2023, along with preferential programs for those who need to borrow to buy a house. The general level is from 5.5% - 6.5% / year in the preferential period of the first 1 to 3 years. After that, there will be a floating interest rate of about 9-13% / year.
With preferential policies of low interest rates, high discounts, flexible payments... when borrowing to buy a house, the end of the year is the ideal time for those in need to own a house. However, home buyers are still quite hesitant, making purchasing power not really as expected. The reason is that besides the current high price level of apartments, the story of floating interest rates after the promotion period also makes home buyers worry.
Currently, many real estate companies and banks offer home loan packages with low interest rates, usually fixed for a short period of 6-24 months. After the preferential period ends, floating interest rates are applied, so the actual loan interest rate will increase to over 12%/year, causing borrowers to face significant financial pressure.
Some banks even increase the actual interest rate to 14%/year at times, leading to a fairly high monthly installment payment. Because floating interest rates are usually calculated based on the base interest rate plus a margin (usually 3-5%/year).
Dr. Nguyen Duy Phuong, Investment Director of DG Capital, said that when borrowing from a bank to buy a house, buyers should carefully consider the ratio of the loan amount to the value of the house. For example, for a house worth 3-4 billion VND, the bank loan amount should not exceed 50% of the house value. In addition, it is necessary to choose a suitable loan package, compare between banks to find the loan package with the lowest margin and the longest preferential period, thereby assessing long-term financial capacity, ensuring enough income to repay the debt after the preferential period ends.
