Those wishing to purchase the first property, must find themselves to stipulate the first mortgage. All those who do not have available liquidity for the purchase of the first house have recourse to a subsidy provided by the bank which is generally around 80% of the value of the real estate . The remaining amount is instead covered by the person who stipulates the mortgage, directly. An amount of 100% is a rare case, it is an alternative but it is difficult for the bank to raise such a high sum unless it is a very small amount or a personal loan that does not appear as a mortgage.
How to calculate the mortgage payment: differences and characteristics
To select the ideal loan, it is advisable to view the rates and offers of the individual banking institutions. By personalizing your request it is possible to have a clear picture of the amount that would be payable month by month. To calculate the loan installment in an exact way it is necessary to insert some parameters ie the duration of the loan, the type of amount to be financed and the interest rate chosen.
When selecting an institution you need to pay close attention not only to the costs and the physical installment of the loan but also to all the ancillary costs that could greatly change the final amount to be paid. In addition to the amount that is returned to pay the loan in fact, the bank provides for the payment of insurance that are now mandatory . The amount to be paid varies from institution to institution, this item must be included in the final statement. Attention also to the figures that must be anticipated or if there are final clauses on the price, such as maxi rate. Although banking offers are very similar in general, these quibbles can be extended to one rather than another credit institution.
Simulations of an installment for the signing of a loan
Wanting to view some of the rates currently on the market to choose the one that best suits the purchase of the first house you can take a look at the major institutions that provide mortgages.
CARIPARMA – It offers a base loan for an amount of 50 thousand euro with a rate of 1.55% fixed and taeg to 1.80% with a duration of 20 years and a payment therefore total of 58.181.80 euro which provides a monthly payment of 242.42 euro.
IWBANK – It offers a fixed rate mortgage for the requested amount of 50 thousand euro with a rate of 1.65% and a taeg of 1.88% with a duration of 20 years and a final cost of 58.736.99 euro. The installment in this case is 244.74 euros.
UBI BANCA – For a loan of 50 thousand euros at a fixed rate for the purchase of the first house, it offers a rate of 1.65%, taeg 2.04% and an amount to be repaid of 58.763.99 euros in twenty years. The installment is the same as IWBANK with 244.74 euros.
BANCO BPM – It differs in that it offers a package called Fixed Rate Last Minute, the amount financed 50 thousand euros provides a rate of 1.73% and a taeg of 2.10% in twenty years. The final cost will be 59,183.50 euros with an installment of 246.60 euros.
Offers from banking institutions for the purchase of the first house
For those who want to buy a home there are particularly advantageous offers to take out a mortgage. The first thing to do is decide if you want to subscribe to a fixed or variable rate payment , the substantial difference is that in the fixed rate the monthly payment is predetermined and does not change, this allows for very accurate forecasts of monthly expenses . In the case of variable installments , this is affected by the financial changes in the market and, consequently, the installment oscillates monthly. Here, the financial risk is much higher, but if the market fluctuates down, you will pay a much lower rate than the fixed rate.
By making a comparison of prices and costs related to the costs of investigation , appraisal and related promotions, there are institutions that offer advantageous offers for those who intend to take out a mortgage in 2019.
The most noteworthy are the CREDEM bank proposal, which offers a 1.58% Tan and a 1,9% Taeg with the preliminary examination costs of 1,200 euros and the appraisal of 280 euros and the IWBANK proposal which offers a good rate fixed and does not provide any cost of expertise or management but only preliminary investigation of 600 euros.