The level of salaries increases every year, and with it our creditworthiness. This means that a statistical Polish family can take a loan of almost half a million dollars. This can result in hasty debt. How to avoid it
Everyone knows that our money should be managed wisely. Similarly with debt – we should also think carefully. Because although our creditworthiness will allow us to borrow a certain amount for an apartment, we can not always cope with its timely repayment. Therefore, before you decide on a loan, it is worth analyzing our home budget and making sure that we will be able to repay the commitment.
How much can we borrow compared to previous years?
The abovementioned amount was determined on the assumption that the credit history of the borrowers is good and at present the family has no debts to pay. The earnings of this statistical family are 6088 net, and the loan would be granted for 30 years. Compared to last year, Poles’ creditworthiness increased by over USD 24,000. The average APRC also decreased, which currently amounts to 4.6% on average.
Mortgage – how much can we count on?
As we have already mentioned – a statistical family of three, in which both parents are employed on the basis of an employment contract for an indefinite period and their earnings are at the level of the national average can count on a mortgage in the amount of almost half a million dollars.
If the family described above would like to use their creditworthiness to the limit, it would allow her to buy a really large property. Such a loan supplemented with own contribution would allow the purchase of a flat from the secondary market with an area of 70 m 2 in Warsaw. In Wrocław, on the other hand, we would already have over 100 m 2 at this price. It’s impressive, isn’t it?
How to take a mortgage with your head?
Assuming that our statistical family would really like to take out a loan for such a high amount, they would have to make an own contribution of almost USD 100,000. And not everyone has such cash, which is why we do not use our creditworthiness to the limit . Thanks to this, we don’t get into debt that we won’t be able to pay back.
Before you decide on a mortgage, it is worth analyzing whether the monthly installment will not be too much of an obligation for us. It is usually considered the safest solution if the amount of the loan installment does not exceed 30% of the monthly income.
Interest in short-term loans is growing
In addition to the increase in Poles’ creditworthiness, we can also observe an increase in interest in short-term online loans. This form of borrowing money is more friendly to customers than a visit to a bank. Not only does it involve smaller formalities, but it is also a more convenient option. In this way, we can borrow money sitting in our favorite chair, holding the phone and ID card.
A quick loan is a great way to repair your home budget or cover sudden expenses. It should be remembered, however, that payday loans, like any other loan, must be repaid. Therefore, such expenses should also be included in the home budget plans for a given month.
When taking a short-term loan via the Internet, we must pay attention to whether the page on which we borrow has all safety rules. We have already written about how to borrow safely in easy steps. Therefore, before you decide on a loan, it is worth learning the basic principles of secure borrowing.