The young first home loan with 80% state guarantee fund is enjoying considerable interest among under 36. They are also coming first offers from banks, especially those who have chosen to adopt all concessions required by the decree Support Bis.
As mentioned, the first home loan for young people with a state guarantee fund (Consap fund), is dedicated to the young people who have less than 36 years old (in the case of a couple it is sufficient that one of the two does not exceed that age limit).
The only requirement is that the income of those who request it is not greater than 40 thousand euros (for those who live in the family, the family one counts, a rule that has aroused more than a few bad moods, but as we will see some glimmer has also opened for whom exceeds that Isee limit).
The financing provides for a maximum disbursement of 250,000 euros.
The first concrete offers from the banks have arrived.
First home loan for young people, the offer from Crédit Agricole
Interesting that of Agricultural credit, which he allocated two billions for the young first home loan.
What does the proposal of the credit institution provide?
Let’s see together.
Crédit Agricole offers the possibility of financing up to 100% of the expense and with a maximum duration for reimbursement d30 years old. Mortgages can be a variable rate O variable with cap. In the second hypothesis, it is possible to establish, already in the contract, the maximum limit beyond which it is not possible to go.
The customer who intends to join the young first home loan will also have the possibility to choose a mortgage with insurance.
In this case you might get a lowest rate, but you have to add the cost of the policy. This chance is offered in particular to who exceeds the Isee roof and would therefore be excluded from the guarantee offered by the state.
How much do the installments cost with Crédit Agricole
But let’s see the conditions offered by Crédit Agricole.
For an apartment from 200.000 euro with financing to 100% and with floating rate:
- repayment in 30 years and stipulated contract with insurance: rate da 621 euro per month (Tan 0.76%, Taeg 0.96%);
- reimbursement in 30 and stipulated contract cwith state guarantee: 667,16 euro (Tan 1.26%, Taeg 1.45%).
The mortgages that have been taken out with the cap they cost more. 9 hundredths of a point.
For the young first home loan, Crédit Agricole also offers the defined possibility “Start with Calm”, which allows you to suspend up to 12 mortgage payments with the extension of the repayment plan.
First home loan for young people, the offer of Intesa San Paolo
Instead, let’s see what it offers for the first home loan for young people Intesa Sanpaolo.
This credit institution also offers the f100% financing, but it is related to the stipulation of a insurance (the cost comes then included in the overall rate).
How much do the installments cost with Intesa San Paolo
Let’s see the costs of this financing. And always for the purchase of a house worth 200 thousand euros and with a 30-year repayment plan.
- With fixed rate rate da 768,60 euro per month (Tan 2.30%, Taeg 2.44%)
- With variable rate: 699,88 euro per month (Tan 1.60%, Taeg 1.72%)
Intesa San Paolo also allows you to extend the duration up to 40 years, in the first 10 years you would pay only the pre-amortization (interest only).
Mortgages with state guarantee they eliminate the costs of the investigation and the flexibility options (the suspension of the installments).
The cost of the installments without the guarantee fund
Consap has imposed on the banks that adhere to the first home fund for young people to offer mortgages that do not exceed the average mortgage rate.
Today the rates are in effect 1,86% for the fixed one and 2,22% for the variable one.
In this case, to buy a house worth 200,000 euros in 30 years, you would spend:
- with fixed rate: 725.31 euros per month;
- with variable rate: 761.36 euros per month.
It is fair to remember that without the Consap fund in these cases the bank will ask for guarantees from those who request the loan.
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