saveTheQuill
First-time buyer
I’m comparing mortgage offers for a three-bedroom property in Lima priced at about PEN 1,669,000. One lender has quoted 5.34% fixed for 15 years, but its advertised rate was lower; arrangement fees and the loan-to-value tier account for some of the difference.
For anyone who has compared financing in Peru recently, which figure gave you the clearest lender-to-lender comparison: APR, interest paid over the 15-year fixed period, or total cash cost including all fees? I’m also trying not to let a lower headline rate obscure monthly affordability, early-repayment charges, portability, or the risk of assuming I can refinance on favorable terms later.
What costs and contract terms would you put into a comparison table, and over what period would you run it?
For anyone who has compared financing in Peru recently, which figure gave you the clearest lender-to-lender comparison: APR, interest paid over the 15-year fixed period, or total cash cost including all fees? I’m also trying not to let a lower headline rate obscure monthly affordability, early-repayment charges, portability, or the risk of assuming I can refinance on favorable terms later.
What costs and contract terms would you put into a comparison table, and over what period would you run it?