In May, demand for housing loan refinancing and housing loan restructuring increased again with the successive interest rate cuts. The lowest mortgage interest rate in Crawlie in 10 years fell to 0.67%. In 5 years, this rate reached 0.65. The housing trend, which maintains the downward trend, is now at the lowest levels in history and nowadays, citizens are taking a breath at banks. Those who cannot get a low enough offer from their own bank find a solution in housing loan transfer.

But for which loans has refinancing become advantageous? The answer depends on the remaining principal and interest of the current loan. However, it is a fact that a certain range of credits will make a definite profit in structuring. We wanted to address the most common situations in this regard.

A) Mortgage Loans Used 1-2 Years Ago

A) Mortgage Loans Used 1-2 Years Ago

If you used a loan of 0.75% or more 1-2 years ago, let us take you to calculate your profit:

If mortgage loans with a maturity of 1 to 10 years are used at a rate of 0.75% or more, they can be profitable by re-transfer. Since the interest rates in 2011-2012 are at these levels, most of the loans used in those years can be refinanced today. For example, 2 years ago, 0.75% of the housing loan received 100,000 TL is now refinancing 2,000 TL profit. The higher the interest rate of the existing loan, the higher the profit.

For each 1 point above 0.75% profit is about 500 TL. In addition, the higher the principal, the higher the profit. For example, if the loan had been borrowed at a rate of 200.000 TL and 0.85% rather than 100.000, the profit would have reached 20.000 TL on average.

For housing loans with a 5-year maturity 1-2 years ago, refinancing becomes reasonable if the existing loan was used at rates of 1.00% or more. For example, if someone who bought a housing loan worth USD 100,000 with a 5-year maturity 2 years ago used it at a rate of 1%, it makes a profit of USD 2,000. If the rate is 1.10, the profit can go up to 6.000 USD.

B) Used Housing Loans 3-5 Years Ago

B) Used Housing Loans 3-5 Years Ago

If 10 years maturity housing loans taken 3 years ago are used at 0.80% and over, they can be refinanced. For example, in May 2010, someone using a 100.000 USD housing loan with a 0.80% rate makes a profit of close to 2,000 USD when refinancing today. As the interest rate and the principal amount of the existing loan increases, the profit is increasing.

10-year mortgage loans taken 5 years ago must be taken at rates of 1.15% or more for refinancing to be a reasonable option. When such refinancing is made on a 100.000 USD loan, approximately 2.000 USD profit is made.

Can I make a profit if I restructure my housing loan? The most accurate answer to this question can be obtained by filling out the form here: Home Loan Transfer

In short, after receiving housing loans, the follow-up should not be abandoned. It is possible to make thousands of USD profit by refinancing housing loans nowadays when the rates have broken the lowest historical records in a row.