When looking for housing loans we want them to have low interest rates and favorable terms. Taking a mortgage loan for a new house or other home is one of the most serious financial decisions we can make in our lives.
Housing construction is a complicated and long process – it starts with the study and elaboration of an architectural and technical project, with the approval and approval of the investment projects by the respective authorized bodies, the permission of the construction by the chief architect of the municipality, the actual construction of the construction site to the permission to use housing and putting it into operation.
The different stages of housing are related to competent authorities, with the issuance of relevant documents, the supply of materials, people to do so and other very serious activities.
A time and resources are needed to make housing a success. One way to find money is to withdraw credit for housing. Carefully and thoroughly, you should look at mortgage loan proposals in the credit market.
Compare bids by focusing on advantages and disadvantages, analyze based on your priorities to choose the most advantageous at the most advantageous parameters and features.
- To build or buy a new home, refinance an existing home loan from another bank.
- Currency: BGN or EUR, repayment term up to 30 years. You receive an individual offer according to your financial needs and opportunities. Funding up to 85% of the value of the property.
- You can use a grace period.
- Collateral: mortgage on the real estate.
- Opportunity for fixed interest for the first 10 years. Lower interest rate for the first 2 years.
- There is no pre-term redemption fee after the first 12 months.
- No fee approval for the refinancing of obligations to other creditors .
- A wage transfer is required in the bank or a part of it (110% of the loan installment).
- You choose between equal or decreasing repayments.
- Insurance: the property mortgaged in favor of the bank and “Life, complete and permanent incapacity for work” for the borrower.
- Credit for housing, finishing and improvement.
- Currency BGN or Euro, up to 400 000 BGN / 200 000 EUR /, repayment term up to 30 years.
- There are no age limitations when applying.
- It is obligatory to use a current account in the bank.
- Inclusion in Targeted Sales Program: “DSK Cosmote Plus”.
- Interest: fixed for the first 3 years and variable / reference interest rate and surcharge / for the remaining period, variable interest rate for the entire loan period.
- Fees: to examine the loan application and approval, to evaluate the property, to prepare and record a mortgage, monthly for use of a payment package.
- Conclusion of Property Insurance – First Original Insurance Policy.
- Apply – online, save a consultation time or a bank branch.
3. UNICREDIT BULBANK
- Credit for housing, house purchase , repair or refurbishment, mortgage refinancing .
- Currency leva or euro, financing up to 85% of the market value of the property.
- Additional funding for costs related to the mortgage deal – Notary fees, taxes and other costs. Between 150 and 10 000 leva for up to 10 years.
- Collateral – the first mortgage of a real estate.
- Application conditions: minimum 1 year of service, net income of not less than BGN 300 per month, age at expiration of the loan not more than 70 years, good credit history.
- Absorbed once or in tranches.
- Floating interest rate for the entire loan period.
- There is no pre-term redemption fee after the first year of the loan, there is no mortgage certificate.
- Repayment term up to 35 years.
- Need for insurances: “Property” and “Life”.
- Credit for housing construction, repair, finishing.
- Collateral: mortgage on real estate.
- The maximum loan amount is determined as a percentage of the current market valuation of the real estate serving as collateral made by a licensed, independent appraiser approved by the bank. Monolithic construction – up to 80%, panel construction up to 70%. The amount of the credit for housing construction should not exceed the value of the construction work, documented.
- You have 14 days from receiving a draft contract, decide whether to sign.
- Variable interest rate.
- Fees: to examine and analyze the credit application, approve and document the credit transaction, write and remove a mortgage, assess the collateral.
- Term of repayment up to 30 years.
- Method of payment: monthly on agreed repayment schedule through equal or decreasing installments.
- Property insurance for the property presented as collateral, free life insurance is required.
6. INTERNATIONAL ASSET BANK
- Asset Housing: loans for housing, purchase, repair, finishing, reconstruction, refinancing of similar loans provided by other banks.
- Currency: BGN or EUR, amounting to BGN 20,000 / EUR 10,000 / up to BGN 300,000 / EUR 150,000 /.
- Term of repayment up to 30 years.
- Grace period up to 12 months.
- Collateral: first mortgage on a real estate.
- Interest rates: fixed for the first 2 years and transparently formed by EURIBOR + flat rate for the remaining period. Lower interest rate on: using the bank’s bundle programs, transfer of labor remuneration. Discounts can be combined. Can also mortgage loans without transfer of salary .
- There are no commissions for absorption, management and early repayment.
- There are fees for: initial acceptance of documents, credit analysis, monthly card / current account service, mortgage creation and cancellation, and collateral valuation.
- Way of repayment: equal or decreasing installments.
- Free issuance of an international debit card, use of additional services, notification and possibility to conclude in electronic bills, free issuance of a revolving credit card at a preferential interest rate, free activation of the internet banking service and other possibilities.
- It is necessary to conclude a property insurance of the collateral for drawing credits for housing construction.