Child loan guide with 3.5% discount rate

Government Agency multi-year loan for child expenses

Government Agency multi-year loan for child expenses

Government Agency long-term loans are a form of access to credit that allows you to obtain even large sums with which you can face expenses of various kinds. expenses that can also be linked to children and in this case we speak of Government Agency child loan.

Before reviewing the purposes that fall into the category of Government Agency child loan, however, it is necessary to talk about the beneficiaries. Multi-year loans can only be obtained by public employees and pensioners registered in a special Credit Fund, the Unitary Management of credit and social benefits. Public employees are also required to have an open-ended employment contract.

Purpose and Amounts

Purpose and Amounts

As already mentioned, long-term loans are granted by Social Institute only to face specific expenses. Among these, the following are related to the applicant’s children.

  • Birth, adoption or pre-adoptive fostering of one or more children;
  • Dental prostheses and dental treatments referring to the dependent children of the applicant;
  • Marriage of the son of the member;
  • Enrollment and attendance by the applicant’s child in post graduate courses lasting at least two years.

With the exception of the Government Agency child loan related to marriage, the sum that can be financed is defined on the basis of the applicant’s income. In the case of a wedding loan, it is not possible to exceed the limit set by the Social Institute Loan Regulations, set at 23 thousand USD.

The duration of amortization for all the above purposes is set at 5 years and the interest rate is 3.5%. Administration costs are calculated with the application of a rate of 0.5%. Then there is a premium for the payment of the Social Institute Risk Fund, defined on the basis of the age of the applicant, the duration of the loan and the amount financed.

Government Agency loan for home child purchase 2018

Government Agency loan for home child purchase 2018

From October 2011 it is also possible for public employees and pensioners to apply for a multi-year loan for the purchase of their son’s home. In this case, however, we have a duration of the amortization plan of 10 years.

The interest rate is fixed at 3.5% while the maximum amount that can be financed is set at $ 150 thousand. As for the loans we have seen in the previous lines, the administration costs, defined with the application of a premium for the Social Institute Risk Fund, are also to be considered.

How to submit the application

How to submit the application

The loan application is transmitted electronically, using the telematic services made available by the social security institution. Public employees send the application through the Administration, while for pensioners there is a service for sending online.

As regards the documentation to be attached to the application, this varies according to the purpose. In this regard, reference is made to the Social Institute Loan Regulations, which can be consulted directly online on the Social Institute.it website.

How ten-year loans work for employees and retirees

Guide to 10-year loans

Guide to 10-year loans

Thanks to their social security and employment position, retirees and civil servants have access to subsidized Social Institute ex Government Agency loans. Credit lines that guarantee the possibility of accessing credit at an interest rate. Among these are the 10-year Government Agency loans.

Ex Government Agency loans are divided into two product categories, small loans and multi-year loans. The former are short-term products that allow relatively low sums to be obtained, while multi-year financing is designed to face significant expenses.

Specifically, multi-year loans can last 5 or 10 years. When we talk about ten-year loans, we therefore refer to the multi-year Social Institute ex Government Agency loans with a ten-year duration. Loans that are meant to meet important expenses.

Purpose of loans for employees and retirees

Purpose of loans for employees and retirees

We remind you that the amount and duration of multi-year loans vary according to the purpose. Purpose that must be included among those provided by the Government Agency Loan Regulations.

In fact, in order to access credit, it is necessary that those who apply for ten-year Government Agency loans have to face expenses falling within those envisaged by the Regulation. For lesser expenses, a 5-year reimbursement is provided, while for higher expenses, 10-year reimbursements are eligible.

As a result, ten-year loans are designed to deal with particularly important expenses. Below are the purposes for which it is possible to apply for Government Agency financing for a ten-year period.

  • Purchase of the first house.
  • Redemption of public housing or public housing already rented.
  • Construction of the first house.
  • Acquisition of a house in a cooperative or by a cooperative consisting of tenants of houses of public bodies and being disposed of.
  • Restoration and conservative restoration interventions, extraordinary maintenance and building renovation of the house.
  • Reduction or early repayment of a mortgage loan signed, in any capacity, with credit institutions by the applicant or spouse.
  • Serious illness of family members of the applicant.

In addition to the aforementioned purposes, it is also possible to obtain ten-year Government Agency loans to meet exceptional and socially significant expenses that require a significant economic commitment.

Amount and refund

Amount and refund

The eligible amount is defined on the basis of the applicant’s income and the purpose of the loan. What has been said taking into account the limits set by the Social Institute Loan Regulation, which provides for limits on the amount for some of the purposes envisaged.

The repayment takes place in 10 years and involves monthly installments. The interest rate is fixed at 3.5%. A rate of 0.5% for administration costs applies to the gross amount of the loan. The beneficiary must also face the payment of a premium for the Social Institute Guarantee Fund. Premium that is defined on the basis of the age of the applicant and the duration of the amortization plan.

Home Loan Mortgages 100 per 100: Overview of the Best Offers

What they consist of?

What they consist of?

Home loans 100 per 100 represent an alternative form of classic mortgage loans. In truth, the operation is very similar. The differences are determined by the enhanced Loan to Value. In a nutshell, the LTV, which is the ratio between the amount disbursed by the loan and the value of the house, instead of reaching 60 or 80%, rises to 100%.

This means that the entire value of the property is financed and the debtor does not have to add anything from his pocket to finalize the purchase. It is objectively something positive. The pitfalls, however, are numerous.

The issues of guarantees

The issues of guarantees

The issue of guarantees must be considered first. The 100 per 100 mortgage represents for obvious reasons a risk for banks, which therefore ask for additional insurance. Among these is the guarantee.

The debtor is called to take it out, in order to cover at least 20% of the amount, ie the part of the financing determined by the increase of the LTV from 80 to 100. Secondly, some banks, especially the more prudent ones, require a lien on the government bonds, always for the same amount.

The concentration of banks remains high as regards the profile of the debtor. Her income must be sufficient and stable, therefore permanent public employees are privileged. Exceptions are those who are “covered” by state initiatives, such as guarantee funds dedicated, among others, to young couples.

An interesting offer

An interesting offer

Among the cons of home loans 100 per 100 the cost in absolute terms also stands out. It is true, in fact, that 100% of the expenditure for the purchase of a property is financed. It is also true that banks are rarely satisfied with the guarantee and compensate for the risk with an increase in interest rates.

For this reason, 100 per 100 mortgages are generally much more expensive than classic mortgage loans. This is a logical consequence, which the customer cannot remedy. Also because it intercepts a trend practically shared by all banks.

In this scenario, Unicredit’s offer stands out: which joins the Guarantee Fund for first home mortgages. The conditions are favorable, also because as guarantor there is, at least for a portion of funding, the State itself.

Specifically, 100% coverage is allowed for mortgages up to $ 250,000. It is reserved for those who are not yet 40 years old and offers both the fixed rate and variable rate formula . The conditions are advantageous: it is possible to reduce the installment or skip (in the first case it acts on the repayment period).

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Social Institute Retired Payday Loans: What They Are and Why Choose Them

Social institute allows members who receive a pension to apply for loans for different purposes. Among the products in question, Social institute retired payday loans are distinguished.

payday loan for pensioners: the solution for members of the Public Employee Management

Personal loan for pensioners: the solution for members of the Public Employee Management

Among the Social institute retired payday loans you can find several products. One of the most interesting is the small Social Institute loan ex Government Agency, a solution for members of the Unified Management of credit and social benefits.

In this case, the amortization schedule is between 12 and 48 months and the maximum amount that can be requested is equal to eight months of pension, within the limit of the fifth transferable. The rate is fixed for the entire duration of the repayment plan and is equal to 4.25%. The customer must also consider the presence of an administrative burden equal to 0.50% of the amount requested.

payday loan for retirees ex IPost: here’s what to know

Personal loan for retirees ex IPost: here

Speaking of retired Social institute payday loans is also to consider the solutions to your subscriber’s former IPOST, the body that, until 2011 and the entry into force of the Reform Monti, was responsible for granting social security benefits to employees of the group Post service Italy and related companies. Now the aforementioned body has been merged into Social institute.

As for the available credit access alternatives, it should be remembered that the primary reference is the transfer of the fifth of the pension.

Assignment of the fifth: the rules to follow

Assignment of the fifth: the rules to follow

Loans for retirees ex IPost see the assignment of the fifth in the foreground, a fundamental reference to consider when deepening the solutions of Social institute retired payday loans. Before requesting it, it is good to remember some rules.

One of the most important concerns the need to present the communication of the transferable quota to the credit institution, a document provided by the Body which specifies the amount of the maximum installment that can be reduced each month before the treatment is provided.

In this case it is good to remember on which points it is based. The first is the limit of the fifth transferable. The installment repaid each month must not exceed 20% of the amount of the treatment. The second is safeguarding the minimum treatment.

In case of particularly low pensions, in fact, an installment of less than 20% can be applied, with the aim of not affecting the sum of the minimum Social institute treatment – the amount is established year by year – necessary to lead a dignified life.

Sale of the fifth pensioner Social institute: final specifications

Sale of the fifth pensioner Social institute: final specifications

We conclude this short guide dedicated to Social institute retired payday loans by remembering that the transfer of the fifth of the pension is characterized by a fixed rate for the entire duration of the amortization plan and below the anti-usury threshold.

Reimbursement can take place in a maximum of 120 months, but for pensioners of particularly old age the limit duration can be lowered to 60 months.