Why mortgage in Russia and Ukraine = suicide. naked mathematics

I honestly think people taking credit for an apartment in domestic banks by 30 years of suicide, but it is very soft word to describe what is actually a mortgage loan, if you look at it through the prism of a bare mathematics. And help us in this calculator on Wolfram Alpha.

To understand how much you actually pay the bank for the loan taken for 20 years, for example, go on link and enter the raw data.

For example, take an apartment for 10,000,000 rubles somewhere in Moscow. The interest rate will take 18% (you can substitute your bet in the calculator). loan term - 20 years.

And so result:

• Monthly payment: 154,331 rubles.
• For 20 years you have to pay the bank 37,040,000 rubles.!

If you decide to just save 10 million rubles for putting 154,331 rubles. monthly, then the accumulation of money in the same apartment it will take 65 months, or 5 years and 5 months.

If you take a loan for 30 years under the same conditions, then you pay the bank 54,260,000 rubles. Here is a real suicide :)

That is, if you, for example, had a baby and you yourself explain the purchase of apartments by this phenomenon, then, paying the same price as for a loan for 20 years, you buy a pleasant apartment in just 5 seconds half years! Plus, you are deprived of the jump rate risk, banks arbitrary change of conditions and many other things that we have seen more than once.

What do you think about this?

A photo: Shutterstock