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73 Articles
73 Articles
Average wages in Hungary increased by nearly 10 percent in one year, according to the latest data from the Central Statistical Office (KSH). During the same period, the interest rate on domestic housing loans barely changed, so the maximum loan amount that can be taken out from the average wage also increased.
How Much of a Loan Can I Afford? Key Factors to Consider for Borrowing
Key Takeaways Assess Your Financial Health: Evaluate your income, monthly expenses, and overall financial situation to understand how much loan you can afford. Credit Score Importance: A strong credit score (ideally above 700) improves your chances of loan approval and better terms; maintain it by managing debts effectively. Evaluate Debt-to-Income Ratio: Aim for a debt-to-income ratio below 36% to meet standard loan requirements and enhance yo…
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