Mortgages without equity are really popular by day. Ie This is something many Norwegians can imagine, but the uncertainty in today’s financial market has become such that this is not as easy to get anymore as before. This is an article about first home mortgages and tips for anyone seeking a home equity loan .
A mortgage loan can best be termed a loan of money
That is intended solely for the purchase of new housing. However, there are different names used for such loans for the purchase of property, sometimes it may be a mortgage loan or at other times it may be a real estate loan or a mortgage. There are many players in the market; both banks and lending institutions.
Many mortgages are similar, but it can vary between different lenders especially in terms of interest rates and other costs. It usually pays to compare different lenders before deciding. The easiest way to compare mortgages is usually to use their financial portal comparator.
First Home Loans and Mortgages Without Equity:
If you are standing there on the ground and need money to buy your first home, there are certain tips you should take with you. We recommend that you who apply for a loan but do not have equity do the following: Visit your municipality and ask for an assessment of whether your situation can come into line with the Housing Bank’s start-up scheme.
If you get a start-up loan on top of a package, as well as regular bank financing at the bottom, there may still be opportunities to enter the housing market. If you do not have equity but have a high income job, your chances of getting a good mortgage increase significantly!
The BSU scheme is perfect for anyone who wants to save money early
Do this! This is a scheme that helps you get started on your homeowner’s career. Use a mortgage calculator to explore your options. It may also be an idea to get a guarantee or proof that you can borrow a certain amount, which is good to have in many contexts. You will then first apply for a loan commitment in the same way you apply for a mortgage.
The same requirement applies to you as a borrower in terms of income and security. With a loan commitment, you have an advantage over other applicants because you can show the seller or broker who is guaranteed financing the home. Remember to apply for loan commitments that are higher than the property start price.
Then you know that there is room for some bidding, or for other costs added, such as moving and refurbishing. It is free to apply for a loan commitment and it is not binding. When you receive a loan commitment is effective for a certain number of months, if your finances do not change over time. to take out a mortgage.
Apply for a mortgage
Today you can apply for a mortgage online. It is quick and easy, and often you will be notified the same day if the loan is granted or not. Of course, you can also visit a bank or call the bank’s customer service to apply for the mortgage. In the loan application you should give your personal information and the amount you want to borrow.
Remember to fill this out correctly. You should also fill in your income and expenses. Then the bank or lending institution to process your application. They will also do a credit check of you to see if you have any payment notes or not. To get a mortgage given as a general rule that you have a permanent job, a certain annual income and that you do not have payment notes.
Tax credit mortgage
If you earn NOK 375,000 during one calendar year. Then you will pay NOK 100,000 in tax in 2012 (before any capital income, capital expenditure or other deductions).
On a loan of NOK 1 000 000 you will have ~ NOK 30 000 in interest expenses within one year (if the interest rate is 3%). The interest expense means that you will pay less tax, the amount it is reduced by is 28% of the interest expense. Thus, if you have NOK 30000 in interest expenses in a year, you will pay NOK 8400 less in tax.