Information About Banks That Offer Zero Interest Mortgage Loans
Even if some participation banks claim that they give zero interest mortgage loans in the haram-halal concept, you can easily see that when you go into detail, the interests called participation shares are put down.
We can talk about this in more detail in a different topic. Let’s talk about the mortgage loan interest rates of state and summary banks. Current interest rates ranging from 1.54% to 2.50% are currently valid. Interest rates vary according to the amount of loan demanded and the number of terms. Of course, the amount of down payment can also stretch interest rates.
Low interest mortgage loan
The lowest interest mortgage loan is given by Lite bank as of June 2019 (1.54%). This is followed by Astro Bank, Cream Bank, TEB and Capital Lender respectively. While making this calculation, we determined a 120-month maturity on a 100,000 TL loan. As the loan amount and maturity number change, the ranking in the list may change. Changes and flexibility of interest rates depend on the financial status of the person requesting the loan, the credit score, the amount of down payment and the number of terms. However, not much fluctuations can be made at valid interest rates. Frankly, it is not a good time to use credit nowadays. If you want to get a loan to own a house, it is useful to wait for a while.
Housing loan interest rates 2019
In June, there was a huge increase not only in housing loans, but also in interest rates of all other loan packages. The mortgage loan interest rates are in flight, so to speak. Rates starting with 1.54% can go up to 2.50%. Considering that the housing loan interest rates were around 0.90% 2 years ago, you can easily see that the current rates are really astronomical. In other words, you repay almost twice the loan you get as an interest to the bank. You pay 2 house money instead of 1 house. That’s why we recommend you to think twice when using a mortgage loan.
Housing loan application conditions
The documents that banks demand from mortgage loans are almost the same. In some exceptional cases, additional documents may be requested from you. Mortgage loan application conditions may vary according to your status.
If you are working in the private sector, you will be asked for salary payroll, SSI breakdown, residence document, workplace signature circular, photocopy of title, additional income certificate, if any. State and public employees are asked for payroll, residence document, photocopy of title, additional income certificate, if any. Retired monthly breakdown, residence document, title deed copy, additional income certificate if any, and tax certificate,