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Intrest rates for morgages in Switzerland are around 1% and for tax reasons most people only pay off a third of their property. The payments are very managable,
by MadDemon 1y ago
Intrest rates for morgages in Switzerland are around 1% and for tax reasons most people only pay off a third of their property. The payments are very managable, as long as you have the downpayment. You can't fully compare this with a similar price in the US where interest rates are much higher and people pay off the full morgage.
- _zoltan_ 1y agoYou can pay off your mortgage if you want to. I know several people who did or set it up like that. However then your interest rate is not 1%. The best I've seen is 30 year fixed, where you pay off your house is 2.5%. I'm paying 0.65% right now, thanks to SARON going to 0. It just does not make financial sense to pay it off even if could.