Short-term incentives, long-term pressure.
The demand for housing remains very high, but deciding to take out a bank loan has never been an easy task. With real estate prices constantly rising, many people are willing to borrow but still carefully consider the possibility of a loan term of 20-25 years.
Ms. Nguyen Thu Loan, 34 years old, residing in Hai Duong ward, is planning to take out a bank loan to buy her first apartment. After many years of saving, she and her husband have only managed to accumulate about 30% of the house's value. According to her, the important thing when borrowing to buy a house is not only the initial interest rate but also the ability to maintain a stable income throughout the repayment period.
"My family has to plan very carefully because the loan could last for decades. If our income decreases or more expenses arise, the pressure to repay the debt will increase significantly," Loan shared.
In reality, the pressure to buy a home today stems not only from loan interest rates but also from the continuously rising real estate prices. Rising prices lead to increasingly larger loan amounts, resulting in longer repayment periods and higher costs. For many young families, the issue is no longer whether they can obtain a loan, but rather choosing a suitable loan amount to ensure repayment capacity over 20-25 years.
Currently, many banks are offering home loan packages with preferential interest rates of around 9.9 - 10.3% per year initially. However, after the preferential period, the interest rate is adjusted according to the reference interest rate plus a margin as per the loan agreement. For many customers, the actual interest rate can reach 13 - 14% per year, or even higher, significantly increasing monthly payments.
According to Mr. Nguyen Duy Binh, Deputy Director of BIDV Thanh Dong branch, in addition to preferential interest rates, the bank also designs long loan terms, flexible loan conditions, and convenient disbursement procedures to meet the needs of homebuyers. Mr. Binh advises customers not only to focus on the initial preferential interest rate but also to calculate their ability to repay the loan over the entire period, ensuring a balance between income and expenses to avoid financial pressure later on.
Meanwhile, Mr. Duong Hong Phong, Deputy Director of MB Hai Duong, said that the bank is implementing home loan packages with preferential interest rates from 9.9%/year for the first 12 months, and is also developing flexible repayment plans and long loan terms to help customers be more proactive in their financial planning in the first few years after buying a house.
Capital flows are directed towards meeting real housing needs.
While real estate credit was previously often viewed through the lens of "loosening" or "tightening," the direction of credit management has now clearly shifted. Young people are among the groups that benefit the most.
According to Official Letter No. 5340/NHNN-CSTT, from July 1st to December 31st, 2026, individuals under 35 years old borrowing to purchase social housing will enjoy preferential interest rates of 6.5% per year for the first 5 years and 7.5% per year for the following 10 years from the date of the first disbursement. The program is implemented at 9 banks including Agribank , VietinBank, BIDV, Vietcombank, TPBank, VPBank, MB, Techcombank, and HDBank.
In addition, many banks are also developing commercial home loan packages for young customers, with an applicable age range of up to 40 years old, long loan terms, and flexible repayment options.
According to Mr. Nguyen Duy Binh, Deputy Director of BIDV Thanh Dong branch, the demand for loans to purchase social housing among young people, workers, and laborers in the area is increasing significantly, reflecting a still very large demand for real housing. However, the current bottleneck mainly lies in the limited supply of social housing, while many customers face difficulties in proving their income or developing a suitable repayment plan.
The State Bank of Vietnam's decision to allow 25 commercial banks to exclude the additional outstanding balance for social housing, industrial park, and export processing zone loans from their credit growth limits will create more room for banks to prioritize capital for these sectors.
For customers over 40, banks still consider loan applications based on financial capacity, income sources, and repayment plans; the important thing is to choose a suitable loan amount to ensure the ability to repay throughout the loan term.
Sharing the same view, Mr. Duong Hong Phong, Deputy Director of MB Hai Duong, said that MB continues to develop home loan packages for young customers with loan terms up to 25 years and flexible repayment options. In the coming period, real estate credit will continue to prioritize loans serving actual housing needs and projects with complete legal documentation, while investment and speculative loans will remain tightly controlled to ensure the safety of the system.
Directing capital flows towards real housing needs is expected to give more people, especially young people, access to housing. However, many financial experts believe that a sharp reduction in lending interest rates is unlikely in the second half of 2026, as the pressure to raise capital and the demand for credit remain high.
Therefore, in addition to taking advantage of preferential credit policies, those who need to buy a house should proactively develop a suitable financial plan and carefully consider their ability to repay the debt in the long term.
HA KIENSource: https://baohaiphong.vn/tin-dung-bat-dong-san-doi-huong-546983.html
