subject: Mortgages - what are they? [print this page] Mortgages - what are they? Mortgages - what are they?
100% home loan, what guarantees, who offers
It is true that a loan can cover only 80% of the cost of a house. There are, in fact, where we offer a 100% home loan by specialized financial institutions. And you're all set and planned by the Bank of Italy.
The cover 80% of the value of a property is a widespread feature among the most common range of home loans. But for those who had the need, you can get a home mortgage to 100%: these are exceptions granted only by specialized financial institutions that have grasped the opportunity given by the Bank of Italy to ensure full coverage of the cost of a Home. But now we go into detail.
Fundamental Considerations
A 100% home loan is a big commitment for both the client and the bank that issues it: it is exposed to a heightened risk that is ready to ask the customer guarantees accurate and thorough analysis of its financial position and solvency.
A 100% home loan will require a greater commitment to "ensure" the Bank the repayment of the loan, so the payment of insurance premiums required of the customer grow proportionally with the amount of the loan.
Risks and Safeguards
The schools arrange for the provision of a Home Mortgage 100% know how to face the greatest risks to cover the total cost of the property.
The mortgage is an essential condition for its issuance, as well as fire and explosion insurance for sickness and accident insurance and dedicated to the beneficiary of the loan.
But not all. Since banks offer regular coverage of 80%, the additional 20% offered by the specialized agencies is bound to be another insurance policy to cover just such a "surplus". Technically, the customer can choose whether to insist that policy and pay in person or institution which it turn will recover the cost by offering a higher spread.
Term of loan
Home mortgage to 100% implies a prolonged duration of an amortization schedule.
If you can classically be around 25/30anni in such cases is also easy to get to 40 years in view of the fact that the maximum duration that a customer can not cope with more than 30% of his monthly income.
