The first house is an essential asset and the ability to buy it represents an important milestone for anyone. This is why we must carefully choose the characteristics of the repayment plan, analyzing as many proposals as possible for first home purchase mortgages. Let’s see which one to choose and why.
First home purchase mortgage: fixed rate solutions
Let’s go into the details of the best first home purchase mortgages of the moment by analyzing some fixed rate solutions. To get a clearer picture, we take as a starting point a mortgage of $ 200,000 required for a property worth 300,000.
The customer of this simulation is an employee who earns $ 2,200 per month and who chooses a 25-year amortization plan.
Among the interesting proposals worth mentioning are that of Lender Bank, which offers a mortgage with a monthly installment of $ 847.71, with TAN and APR corresponding to 2 and 2.08% respectively. The investigation costs correspond to $ 600 and there are no expert appraisals.
Also worth mentioning is the UBI solution, which always provides for an installment of $ 847.71, with TAN and APR at 2 and 2.14%.
Best variable rate mortgages for the first home: here are the offers not to be missed
We continue to talk about first home purchase mortgages by analyzing the variable rate offers. To explore the various examples, we always consider the mortgage of $ 200,000 for a property characterized by a total value of 300,000. The amortization schedule is 25 years.
Among the proposals of the credit institutions it is possible to mention that of Bancadinamica, which provides for a monthly installment of $ 755.83. In this case, the rate is 1.02% and is calculated on the basis of the 3-month Euribor parameter, increased by a spread of 1.35%.
Also worth mentioning is the Lender Bank solution, which always keeping the parameters mentioned above, provides for an installment of $ 767.40, with a rate equal to 1.15% and calculated on the basis of the 3 months plus one spread of 1.15%.
First home mortgage 100: how does it work?
Are there mortgages for buying a first home at 100? These plans are rare as they are considered particularly risky by lenders, but are nevertheless granted in special cases.
One of these concerns joining the Guarantee Fund for the first home, a ministerial measure that has been active since 2014 and is aimed at young people under 35, couples who have been married or living together for at least two years, those who live in rent in a popular housing and to single parents with dependent young children.
The Fund allows you to apply for a first home loan with a state guarantee on 50% of the principal.
100% first home mortgage: the rules of the Fund
To access the Fund and to request first 100 home loans, the property being purchased must have a value of less than $ 250,000, which is not included in the cadastral categories A1, A8 and A9 and which represents for the beneficiary the first home owned on the Italian territory.
Related articles related to Social Institute loans ex Government Agency
- Online mortgages 2017: the best home mortgage deals of the moment
Online home loans: how to find loans at advantageous rates With the advent of the network, the search for a mortgage has become a much simpler operation than it was until a few years ago. By resorting to online mortgages in fact.
- Home mortgage: guide to the best offers
The search for the cheapest home loan takes time and must keep in mind many variables. This is the rest of the financing most requested in our loan market and which represents the most convenient solution to buy the first home.
- Fixed rate first home mortgages: the best solutions offered
The purchase of the first home is a fundamental step both for families and for those who live alone. That is why it is necessary to review as many proposals as possible regarding mortgage plans.