Huy Phuong

Huy Phuong is a resident of Tan Phong ward in Ho Chi Minh City, who, along with his wife, took out a loan of 1.6 billion VND in 2023 to purchase a two-bedroom apartment near their child's school. Initially, they secured a favorable fixed interest rate of 7.4% for the first two years, which allowed for manageable monthly payments. However, as interest rates are set to rise sharply after the promotional period, their monthly repayment could increase significantly, causing financial strain and forcing them to reconsider their home ownership plans.