Hungarians want their own home, researcher says
According to an economist from the Szazadveg Gazdasagkutato think tank , nearly all Hungarians want to own their own homes and would be willing to sacrifice for it.
The aid to housing program part of the larger efforts to assist families with young children to pay for their own home, Istvan Lorand Szakali said in an interview with the Magyar Nemzet newspaper. Magyar Nemzet.
This program that was launched towards the end of July, has made a huge impact on the construction of new homes as the architect said in his interview that he made public this the weekend. In 2015, 7,612 homes were built. In 2020, they were 28,208. This means that there will be an increase in real estate, construction, and credit markets as well, according to the economist.
He added that if the program was halted or even cancelled, it could result in serious emotional and financial effects. Hungarians He said that they believed having their own home to be an essential factor and could be an important factor in their personal identity.
The economist remarked that left-wing opposition promises to expand the stock of municipal housing to rent earlier in time were mostly empty since they were costly and did not make sense to build and maintain the buildings.
Further, certain studies suggest that in specific regions of Budapest the tenants’ debts can could result in losses that can reach upwards of 150 million Forints per year.
He claimed his government is in a position to aid youngsters in need, by facilitating the opportunity to create credit system and job opportunities.
Who Can Apply For A Mortgage?
The majority of people who purchase houses are doing so with the aid of loan. A mortgage is required when you are not able to pay the full cost of the property on your own pocket.
There are instances that make sense to obtain mortgages on your property even if you have enough cash to pay the loan over. For instance that investors frequently use properties as collateral to raise more money to invest elsewhere.
To be qualified for the loan available via OakParkFinancial, you must satisfy certain requirements to be eligible. Thus, anyone who is able to get an mortgage is likely to be stable and stable in their income, a debt-to-income ratio that is less than 50 as well as a good credit score (at the minimum of 580 for FHA loans and 580 or 620 for traditional loans).