Better rates?

[Tcm9669]

In my country we don't have any mortgages, we just have bank loans, so I was wondering, for those people that in their country have both, which one has the best rates? A bank loan or mortgages?

[chandni_aqua]

Mortgages are better anyday.. you can set your monthly emi according to the variation the in the rates. whereas loans always tend to have a higher rate of interest

[Tcm9669]

Originally Posted by Venus

In your country I'm sure bank loans are more competitive though because that's all you have.

What is the average rate that a bank takes on a loan in your country? and what is the average mortgage rate? I will see and compare the rates to see if that is true, thanks.

[chrissie1101]

In Canada you can see them as low as 3% if you have stellar credit rating. For higher risk you are going to see them in the 11-15% mark. ouch.

[Tcm9669]

Well then in my country they are nearly like mortgages, the least you can get is 4.5%, no that bad, but it can go up to 7%+

[belle]

either way, bank loan or mortgages, the best rates can be found around..just a matter of looking hard at all available options..

[SIMORNY]

Take a look at some of the benefits to these mortgage loans:
Enable you to buy a house of your own - without having to pay the full amount up front
Help give you the leverage you may need to take advantage of a booming housing market
Give you the greater percentage of money required to buy a house, helping with budget flexibility
Even though you borrowed money, you are free to make changes to your house
Can also be used for major renovations on your existing home ,
so i still prefer mortgage loans to bank loans ,

[devidso]

Yes! Nice information that you have shared with us.
Thank you very much!

[alizee]

This was a good suggestion that you put up here...dude…..hope that it benefits all the ones who land up here.

[marvalles]

My thoughts don’t collide exactly with what you say….but anyways…..every one has its own way!!!!