This type of credit can be repaid over a period of up to 30 years, with some banks allowing applicants to have more co-payers so they can get more money. The credit is granted on the basis of evidence of constant income, mainly from salary, the minimum working age being at least three months, the fiscal card being mandatory. On average, the monthly rate to be paid for credit may not exceed 40-50% of the average income. You can **ขอลดดอกเบี้ยบ้าน ** this is important.

The Government has estimated that around 40,000 credits worth 1.5 billion dollars will be awarded in the current phase of the First House program, which will take place in July and which will involve more than 15 banks.

**7 Essential Elements about a Home Loan**

Can be obtained by those who are not the owners of a home or have a house with a maximum area of 50 square meters,

The maximum guaranteed amount is 60,000 dollars for a home purchase credit, so it will have the same maximum value, of which 5% represents the advance that the beneficiary has to pay before obtaining the credit so that the maximum amount of the loan is 57,000 dollars,

You will pay lower interest rates than a regular credit without any commission and the required advance is only 5% compared to the usual 25%,

In addition to the advance, a deposit representing the value of the first three monthly interest rates must also be deposited with the bank. It is also mandatory to provide housing against all risks,

The home purchased through this credit cannot be sold for a period of 5 years before repayment of the loan,

What is the monthly rate for a $40,000 credit for 30 years, a 5.56%, the monthly rate is 225 dollars, the total cost of the credit of 41,110 dollars, and the total amount paid at the end is 81.110 dollars on a 150,000 dollars loan for 30 years, with an annual rate of 8.30%, the monthly rate is 1.100 dollars, the total cost of the loan is 246.234 dollars, and the total amount paid is 396.234 dollars.

**Own contribution: how much is needed? **

The amount of own contribution also influences the terms of the loan. The higher is the better. The lower the ratio the ratio of the loan value to the value of the property the more advantageous interest rate the bank can offer. In practice, it often looks like if we do not have the money to contribute, or it is insufficient for the bank, we will be forced to insure our loan.

**Creditworthiness – what is it?**

How much a mortgage the bank gives us depends on our creditworthiness. It affects not only the income earned, but also: age, occupation, workplace, repaid and repaid loans, credit card balances, debit card balances, etc. This is all the bank takes into account when assessing the probability of whether we will they paid their monthly installments honestly.

Remember that each bank counts creditworthiness a little differently. Therefore, when it turns out that in a given bank we do not get a loan in the amount sufficient to buy the flat that interests us, we can always go to the competition. It is also worth looking for information on the internet about which banks have the most advantageous offer.