Unfortunately, it is now a generation problem that young couples could already come to the baby, but there is still no room for it because they can’t put as much money in a month to buy an apartment. In this case , most young people do not yet have the strength to absorb housing loans . Is there a home loan without own resources ? Yes, we show you how:
When can I buy a home loan without self-help?
As the debt brake rule does not allow for more than 80% of the value of the property you want to buy on the loan, the borrower must have at least 20% of the equity in most cases . Exceptions are cases when other real estate is included as an additional cover next to the property to be purchased . In this situation, the amount you want to buy can reach 100% of the value of the apartment you want to buy. This means you can buy an apartment without self-help .
What does this mean in practice?
Especially in the case of young couples, parents may not be able to help the young party with money, but with their existing housing or other real estate they can already get into the housing purchase .
By incorporating their own property into the faith management as a cover . As a result, they are also committed to repay the loan, as two properties will be registered as collateral for the bank, so parents will also be called pledged, thus taking responsibility for repayment of the installments.
Some financial institutions, so many self-sufficient housing loan schemes
Of course, the construction of self- supporting home loans may be different as financial institutions , so it is definitely worth a look at the market , because there are banks that charge CSOK as self-sufficient, but there are also those who definitely insist on some kind of 20% self-help.
Online is worth a look at the offers of financial institutions , but after successful selection , it is important to ask for detailed information in all cases in order to be able to make decisions in our finances responsibly , because our children or our own future are influenced, and no matter what decision we make in such a long-term home loan.