A more common type of loan for home purchase is the mortgage borrower, granted to meet the needs of money, or unsustainable. The amount requested in the loan for the home loan must somehow be linked to the acquisition of real property (first or second home) or for its construction. It is easy to see that you have more extensive facilities provided for by law, for the first home loan. None of this means you can not ask a dumb for other expenses, always linked to the property such as renovation, construction, furnishings, etc..
The home mortgage allows you to have funding in the medium or long term, an amount higher than a personal loan to consumer credit.
may apply for a home loan to all individuals, with the presence of a guaranteed income, who want to buy, build or renovate a building for residential use.
In general, the total capital may not exceed the amount paid over 40% of annual family income of the beneficiary, in addition, the amount of the loan amount requested will be evaluated based on the value of the mortgaged property, or loaned in warranty.
the market lately, there are offers of loans that can cover 100% of the value of the property, calculated on an expert report commissioned by the bank.
To get a home loan there are many parameters to take into account, these will be considered whether or not delivery. An example is that referring to the category of pensioners, according to some statistics, is facing more difficulties on obtaining the mortgage, and they, in fact, there are fewer guarantees than to life, giving rise to issues which the bank would rather avoid.
the interest on home loans have a low risk investment profile, if any, given by the presence of the mortgage on the land, while the interest on bank loans, for other expenses, have higher rates of interest.
The evaluation criteria for obtaining a home mortgage are simple but strict:
- the relationship between the mortgage payment and the monthly income can not exceed 30%
- the loan can not exceed 80% the value of the property, except for the 100% mortgage, on which there are maximum limits on the amount financed
- do not be bad payers or tax bias
There are tax breaks for those who request a home mortgage, for example interest cost (if buying first home) are deductible from income tax of 19% of the beneficiary. The house has everything mortgage
interest to satisfy the request of the beneficiary to consider these data to find the best combination:
- amount of funding, can only cover part or all of the value of
- Interest rate: it can be fixed or variable for the entire term of the mortgage
- duration: the years in which you can repay the loan in general, the maximum is 30 years
- the amount of rate: the amount given by the rate of repayment of the financing
upon wide-spread demand for loans, banks have started offering various formulas and spread, but equally complex, and this broad ability allows you to choose the best solution closest to their needs, but leads to get lost in a maze of contracts, small print, terminology, and documents a few clear, however, difficult for the person or the layman.
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