Golden opportunity for young people to own their first home
On the morning of February 11, Prime Minister Pham Minh Chinh chaired a meeting of the Government Standing Committee working with commercial banks. The Prime Minister requested the State Bank and commercial banks to study and continue to have preferential credit packages for both supply and demand to develop housing for young people aged 35 and under.
"Most young people are ambitious, have a long life to develop their careers, and usually after about 10-15 years their income will double or more than double, so there is almost no risk for commercial banks to lend," said a representative of the Ho Chi Minh City Real Estate Association (HoREA).
The Association also proposed that the State Bank consider building a mechanism for young people (18-45 years old) buying their first home to borrow credit at reasonable commercial interest rates (about 6-7%/year, secured by the house itself) for a period of 10-15 years.
Golden opportunity for young people to own their first home.
A representative of Asia Commercial Joint Stock Bank (ACB) also said that the high expectation of owning "one's own house" in life is completely consistent with the "settling down and having a career" mentality and tradition of Vietnamese people, especially young people with stable jobs and monthly income.
ACB believes that young customers aged 18-35 with stable jobs and regular monthly income can absolutely think about buying a house. With stable jobs and a long working period, the risk of the loan is quite low.
On the other hand, the "first home" can also be considered a financial solution to meet the needs of housing, stable life and career development of young people. Therefore, this is a good opportunity for young people to access home loan packages from banks.
ACB increases incentives for young people when borrowing to buy their first home
For example, with ACB, the bank has pioneered the implementation of the "First Home" loan package for young people to buy houses with flexible features to meet housing needs and suit the needs and income of customers.
Besides the interest rate issue, experts in the finance and banking sector also recommend that home buyers pay attention to other issues such as repayment period, principal and interest payment in accordance with financial capacity and flexibility of the loan package.
With ACB's preferential loan policy, it can be said that this is considered a good opportunity for young people to access home loan packages with reasonable interest rates, quickly realizing the dream of "settling down and having a career".
Currently, banks are lending at a loan rate of 70-80% of the house value. With a large loan amount and long term, home buyers need to consider the overall needs, periodic repayment plan suitable to income source to ensure debt and interest payment when due.
ACB's loan package is also designed not only with attractive interest rates from 5.5%/year, but also focuses on peace of mind, such as long loan terms, principal repayment methods suitable for customers' income and preferential interest rates for the first fixed period up to 60 months (5 years) with interest rates up to 3% lower than the announced interest rates.
Accordingly, customers can borrow for a long term of up to 30 years and a fixed interest rate for the first period of up to 5 years, with a flexible principal repayment method, only needing to pay from 2% of the principal/year. In addition, customers also have a grace period for principal repayment for up to 12 months from the date the loan is disbursed, free valuation of collateral and preferential early repayment fees when paying monthly.
As a bank, in addition to providing suitable financial solutions, ACB also supports other necessary legal procedures according to legal regulations, not only to maintain peace of mind for customers, provide financial plans suitable for customers, and ensure the lending and principal repayment process is smooth and convenient for both parties.
To learn more about home loan packages, individual customers can visit the website, or go to the nearest ACB branches or transaction offices, or call the 24/7 Contact Center: 028 38 247 247.
Source: https://baochinhphu.vn/acb-tien-phong-cho-vay-mua-nha-dac-biet-danh-cho-nguoi-tre-102250213180343626.htm
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