All you need to know about your first home loan
We have finally decided: we buy a house. We begin to study the real estate ads, we take the first appointments for visits until we find what it does for us: we like it and the price is compatible with our situation, even if we still need a mortgage.
Your first home loan
Choosing the house, it’s time to choose the bank. It is important to compare the offers on the market, to find the best one.
Once the bank is found, we send our loan request, indicating the income of the family unit, the value of the property we want to buy, our purchasing power and any additional guarantees.
If the bank positively evaluates our request, we must provide additional documents (different depending on whether we are employed or self-employed).
At this point you can proceed with the signing of the contract: do not forget to read all the information it contains, with particular attention to incidental expenses and the Taeg, the annual percentage rate, which allows us to understand how much will pay the installments that we will have to repay. It is at the time of stipulation of the contract that, generally, a mortgage is also established on the property being purchased : in this way the bank protects itself in case of non-return of the amount paid.
There are also discounts for the purchase of the first house. Because a property is considered first home, it does not have to be a luxury property; the buyer must be a natural person, must not own another home in the territory of the municipality where the property is to be purchased and must not have previously benefited from the facilities for the purchase of the first house; the buyer must also move his residence in the municipality where the property purchased is located within 18 months from the deed.
If the house is purchased with these facilities, it is also possible to deduct the interest payable on the loan (19% of the cost incurred as interest expense) and the municipalities, at their discretion, can apply the deduction of the Tasi.
And let’s not forget: a good credit rating and careful management of debt will allow us to repay installments in peace. Advanti 365, with its dedicated consultancy, can be an important ally.