Nam Long offers interest-free loans to lure homebuyers

October 13, 2012 | 08:24

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Customers of the Ehome 3 Saigon West project will be relieved from financial pressure as the project owner, Nam Long Investment Corporation, has reached an agreement with Vietcombank to offer homebuyers interest-free loans.

The financial package allows buyers to take out loans worth up to 70 pct of the home value, with a term of 15 years and zero interest rate. In addition, borrowers do not have to pay principals in the first 12 months.

Under this program, homebuyers will have to make a downpayment of some VND200 million, or 30 pct of the apartment value when signing contracts. The remainder will be disbursed by the bank in accordance with the progress of the project.

Nguyen Vinh Tran, CEO of Nam Long, said this financial package is aimed at reducing the pressure on customers when paying installments. In fact, many buyers are exhausted with paying both principal and interest until homes are handed over.

Located on Ho Hoc Lam Street in HCMC’s Binh Tan District, Ehome 3 Saigon West comprises 14 nine-story buildings with some 2,000 flats and other utilities. The first phase of the project is underway with 333 apartments being built.

As the project owner targets middle-income customers, the apartments are priced from VND600 million to VND1 billion per unit. As scheduled, apartments will be handed over to buyers in August next year.

SGT

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