I 100% mortgage on the purchase of the first home they are forms of financing that the banks grant to those who request it, for the full amount, instead of, as much more often, for a reduced amount. Compared to a traditional mortgage, therefore, the eligible percentage up to 100% of the amount and there is no need for the applicant to put additional liquidity into the purchase of the first home. However, a higher percentage of the mortgage also requires more guarantees from the point of view of the protection of the bank that disburses it.
There are many banks that offer solutions to activate 100 percent mortgages for first homes and, in order to get a first initial idea, both on the interest rates and on the monthly amount of the installment, you can refer to the web and to specialized sites that offer a service that allows you to compare different types of mortgages, granted by different banks, to choose the most convenient one.
How to get a 100% first home loan
In order to take advantage of a first home loan that covers the amount financed at 100%, one must have a series of requirements.
It is important to know that in order to have a 100% mortgage for the purchase of a first home, the lender must provide the specific guarantees: those of one physical person who has the suitable requisites to be able to act as ensures or access the guarantee fund on the first home of the Awareness. This is a fund where it will be State to vouch for the applicant.
Clearly the funds are not unlimited, but are allocated annually and certain categories can take advantage of them: the couples in which at least one of the two persons involved has an age Less than or equal to 35 yearsto whom is a tenant in public housingto all of those families composed of only one parent who have one or more dependent minor children, ai self-employed or with a fixed employment contract.
The Consap fund also offers a further advantage to all those subjects who have less than 36 years oldwith an ISEE below €40,000: they also have the right to apply for and obtain a mortgage on the purchase of their first home in discounted rate. In the first case, i.e. when another physical subject different from the State acts as guarantor, the person involved will need to stipulate a surety policy which serves as a guarantee for the granting of the loan.
General requirements for applying for a mortgage
Beyond the warranty offered by State through the Consap Fund, there are general requirements for the bank to grant a mortgage on the first home, let’s see what they are: first of all it is necessary to stipulate a guarantee policyit is also required to not be achievements in the past of the bad payersdemonstrate that the loan payment does not have a more than 30% impact on salaryprovide the bank with a third guarantor to bear the expenses in the event of insolvency on your part and have a demonstrable economic stability.