Real estate news

What are the most affordable first home mortgages?

In the market there are a large number of these financial products but it is very important before even deciding which house to buy to choose the mortgage that comes closest to your needs and possibilities. When deciding to take out a product of this type, it must be borne in mind that this type of contract will bind the holder for a few decades, going to influence their lives for the better or for the worse. The interesting thing to keep in mind that each type of mortgage has positive and other negative aspects and, as often happens, the most peaceful solution is the least flexible. In 2018 there has been an increase in the granting of mortgages since 2018, with an increase of almost 4% going to exible. In 2018 there has been an increase in the granting of mortgages since 2018, with an increase of almost 4%, a trend which has also been confirmed in recent years.

What are the first home mortgages currently on the market?

The current panorama sees some types of mortgages managing to offer a wide choice for all those interested in undertaking this adventure. First of all, it is necessary to keep in mind that banks generally grant a maximum of 80% of the value of the property you want to buy, even if not infrequently there are some that offer 100%. Let's see what are the mortgages that can currently be found in the market:

fixed rate mortgage: these mortgages have a fixed interest rate which is decided during the negotiation phase. It may be greater than the previous one but tends not to be affected by market fluctuations;

variable rate mortgage: it can be considered cheaper than the previous one but only initially because in this case the rate can fluctuate based on market trends so there is the risk of finding yourself with a decidedly high rate;

mortgage rate with cap: it is a particular case of the previous one and was created to bring even those who are afraid of the variable rate closer. In fact, decidedly higher spreads are inserted in order to make one's experience more peaceful;

mixed rate mortgage: in this case we are going to consider a hybrid product that contains a variable and a fixed part in order to get the most out of the fixed and variable.

100% first home mortgages when can I get them?

Surely it could be much more convenient to have a mortgage that can completely cover the cost of your future home. As previously stated, the vast majority of mortgages are at 80% so the remaining portion of the property's value must be owned, which unfortunately is not always so easy. Although there are banks that grant these types of mortgages but they only do so if you are in possession of certain requirements or if you can guarantee a guarantee that can be used to have a loan coverage. This can be represented by a property or by a guarantee. The problem of obtaining a loan of this type lies in the fact that it increases the risk, which translates into an increase in the interest rate and the spread applied.

2020 first home guarantee fund: what it is, how it works and who it is for

The 2020 first home guarantee fund is a valid tool to facilitate the granting of first home loans. It is indeed important, to try to obtain this financial instrument, to demonstrate that you have sufficient guarantees. The problem lies in the fact that it is not always possible to have them, therefore a part of the population is excluded. The guarantee fund is a tool that is made available to those who are looking for the purchase of their first home thanks to the guarantees made available to the state. The interesting thing is that this fund is also valid for those who have decided to restructure or improve energy efficiency. Of course, there is no mention of luxury apartments, while all those who already own an apartment as their first home are excluded. It should be noted that this fund covers 650 million euros from the state which can be increased even more by the regions and local authorities up to a maximum of twenty billion. Let's see what are the conditions to access the guarantee fund:

the location of the property must be in Italy;

it doesn't have to be a luxury property;

the maximum limit for the loan amount must not exceed 250,000 euros.