Long-Term Housing Loan

1. What is more advantageous — renting an apartment or taking out a housing loan and paying interest on it?
2. I took out a housing loan with another bank for a period of 10 years. I have already been repaying it for 6 months. Is it possible to obtain refinancing in your Bank for a period of 20 years?

•What is more advantageous — renting an apartment or taking out a housing loan and paying interest on it?

With the help of a loan, you can buy an apartment right now. Indebtedness under the loan would be repaid on a monthly basis in equal portions, with interest on the loan accrued on a monthly basis on the actual balance of the debt under the loan, i.e., monthly amounts of repayment would decrease continuously.

If you have to choose: buying an apartment on credit now or raising money over a long period of time while paying for your rented housing, then common sense unambiguously indicates that the final cost of the real estate will be considerably lower if the apartment is purchased on credit.

•I took out a housing loan with another bank for a period of 10 years. I have already been repaying it for 6 months. Is it possible to obtain refinancing in your Bank for a period of 20 years?

The issue of refinancing real property under the long-term lending program of Pravex-Bank PJSCCB is decided for each client individually. To consider your case in detail, please contact any outlet of our Bank.

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