Fast home loan

With so many loan products on the market, it can be difficult to decide which one is right for you. One important consideration when choosing a home loan is the interest rate of the loan.

Interest is a payment made by you to a lender as an incentive for them to lend to you. Therefore, an interest rate is a certain percentage of the principal loan that is to be repaid alongside the original loan.

The concept of interest and interest rates can be traced back to the early days of finance. In simple agricultural societies, money did not exist. Bartering was the main form of trade. People borrowed seeds from a lender and once these seeds were cultivated and harvested, the lender expected a certain percentage of the crop. Records from ancient Greece, Egypt, and Mesopotamia show a similar story.  

In these ancient civilizations interest rates were incredibly high. In fact, interest rates during the Persian Conquests soared to upwards of 40%! In comparison. Mesopotamia was reasonable, charging 20%.

In the modern day, home loan interest rates are more likely to be around 4-5%, a far cry from what they used to be. But with Urban Fast home loan this figure is still too high!

We are committed to finding you a home loan with a low interest rate that suits your individual needs.  We receive exclusive discounts and packages with a variety of lenders, making sure that you receive the best home loan possible.

Speak with us today on 3841 3841.

For an interesting read see:

http://www.monetary.org/a-brief-history-of-interest/2010/12

http://www.businessinsider.com.au/chart-5000-years-of-interest-rates-2015-9