Which is the best system: PRICE, SAC or SAM?

Depends on your profile. SAC pays less interest but starts with higher payment. PRICE has fixed payment and lower initially, but pays more interest. SAM is a middle ground.

How much down payment do I need?

Most banks require minimum 20% down payment. The larger the down payment, the better the conditions (lower rate and less total interest).

What's a typical interest rate?

Varies by bank and profile, but generally between 8-12% per year. With good relationship or promotions it can be lower.

Is it worth financing for 30-35 years?

Long terms have lower payments, but you pay MUCH more interest. If possible, choose the shortest term that fits your budget.

Can I make extra payments?

Yes, extra payments reduce future interest significantly. Check with your bank about prepayment policies.

Can I switch from PRICE to SAC later?

Generally no. The system is defined in the contract. Some banks allow mortgage portability with system change, but there are costs.

Is insurance mandatory?

Yes, mortgage and property insurance are mandatory by law. You can contract with any insurer you want, not necessarily the bank's (often cheaper elsewhere).

Is it better to pay down mortgage or invest?

If your investments earn less than the mortgage rate, it's better to pay down. If they earn more, it might be worth investing. Also consider the security of reducing debt.

Avoid at all costs. Late payments generate penalties, late fees and can hurt your credit score. If in difficulty, contact the bank to renegotiate before missing payments.

What happens if I sell the property before paying off?

You must pay off the remaining balance when selling. The proceeds from the sale will first go to paying off the mortgage, and you keep the remainder.

Mortgage Calculator

Simulate your mortgage and compare amortization systems

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Amortization system

Include insurance and fees

What is a Mortgage?

A mortgage is a long-term loan granted by banks and financial institutions for purchasing property. The property serves as collateral until the mortgage is fully paid off.

Different amortization systems exist, each with specific characteristics regarding payment structure and interest distribution over time.

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