Choice of credits corresponding to your objectives and capabilities

 Choice of credits corresponding to your objectives and capabilities – Before choosing the type and structure of the loan that would best meet your personal interests and goals , you have to take into account many different factors.

Following are the most common ones . It is possible that you will learn some of its traits of character in one of the examples . Good for you : will have an idea how to proceed with choosing a loan .

You succeed in accumulating money and working hard to achieve this goal – by all means pay your loan faster.

If you belong to this type of people , you can choose one of the following strategies. Fixed loan will not allow you to make significant additional contributions to reduce the loan . Perhaps you will consider such a restriction as the collapse of his hopes for early repayment of the loan.

However, if you , for whatever reason , still had to get a loan is fixed – do not despair . Aim to accumulate as much as possible the amount before the end of a fixed period , and then make the full amount ( or part of it ) at the expense of your loan in order to reduce his body. Alternatively, you can choose a loan with a floating interest rate or choose a line of credit .

You drive a weak and do not have the desire to do more than is required of you .

If at the end of the month , you suddenly discover that all your cash or evaporated spent some magical way , then you should consider fixing , if not all of the credit , then at least most of it ( if it is allowed creditor ) . Where you will find additional funds , if interest rates begin to rise ? Do not forget that you are experiencing some difficulty in controlling and regulating their expenses.

You get a high income and always have enough money at the end of the month , not to reflect on their spending .

If you belong to this category of people , then you have nothing to worry about a possible increase in interest rates. You can quite confidently choose floating rate or a line of credit . Perhaps it makes sense to fix a small portion of the loan to compensate for the increase in costs when picked percent. In this case, (lifting percent) , your interest payments will increase , but not so much if all your credit was on a floating percentage .

You get a modest regular income.

People in this category are at risk . You will be much more difficult than those who already have good savings or earn high incomes. You will have to closely monitor all of the interest rate fluctuations .

You can try to reduce your body credit loan , taking advantage of loans are on floating interest rate as long as you think , this percentage will be stable or , better yet, start to fall .

When, unwanted interest rate rise will seem inevitable , it should commit or all of the credit , or most of it.

You are afraid to borrow a large sum .

If you are afraid to borrow large sums , but still decided to loan processing , then you should think about how to fix all your credit or most of it. You will sleep well if you know exactly what you are not experiencing any problems with the payment of the required contributions . Even realizing at the same time that , if desired, you could easily find the loan payments which would have been lower .

You’re a player by nature and prefer to take the risk , in the hope of saving money.

Think of a floating interest rate at that time , so far, in your opinion , the interest rate will not rise or will fall.

You belong to the category of clients that can take advantage of a “professional package” offered by your lender.

Do not forget to find out or you can use the benefits of the professional package offered by your lender. Good weigh all the pros and cons of such a proposal .

Your income is not constant from year to year

Those who fall into this category , you must be very careful when choosing the type of loan . In general, it is desirable to use the same criteria as for those who belong to the category of customers with modest incomes . The only difference is that by dividing the loan to a fixed and floating interest rates , it is necessary to do all the calculations based on the minimum income that you expect at a certain time interval.

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