RATE MORTGAGE
Model mortgage
All persons who have (re) financing real estate, have a choice between variable rate mortgages, fixed rate mortgages and special models. Models are special mortgages differ from others in the structure of the payment of the agreed interest. Degree
debt
Typically, the acquirer a property is required to fund at least 20% of the purchase price by a personal contribution. The remaining 80% are financed by a bank as a mortgage. The bank grants a mortgage so-called "first tier" funding
the 65% of the purchase price, mortgage and a "second tier" funding the remaining 15%. safeties
Mortgages are secured by a lien, this lien is on the Register property. In the case of a first mortgage, the lender takes a minimal risk because the loan will be repaid the first loan in case of judicial sale. In Therefore the rate for a second mortgage are higher. Similarly for second homes and vacation lenders apply in most cases a higher rate by the cost of risk. To optimize the conditions that are available, it is possible to pledge additional collateral, such as deposits of securities or assets of Provident. Individual Rating
The bank will determine the value of the property and the creditworthiness of the borrower. In all situations, the bank will require the borrower or may take it funds pledged 20% of the value of property. Add to this the fact that the charges related to the purchase of the property (interest, depreciation and maintenance) is not greater than 33% of gross income of borrower.
The rating is the basis for negotiating conditions of the mortgage rate. For infor-mation on the best current rates and conditions, please contact me at 078 791 00 95 or leave a message on this blog with tel. or e-mail.
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