Among the various loan options offered by Government Agency to civil servants there are also those specifically dedicated to the purchase of a home or the renovation of housing. Like any other type of loan, this also requires compliance with certain requirements. Let’s see the main ones together.
Requirements for access to first home purchase loans
The first requirement is the registration in the unitary management of credit and social benefits with an age of at least three years to the fund. In addition, you must have a permanent job and, in order for the application to be accepted, the home must not fall into the “luxury” categories, that is, it must not belong to the following categories: A / 2, 3, 4, 5 , 6, 7.
For pensioners, the requirement is that they are not yet 60 years of age.
You can also buy a box as long as it is relevant to the house. In any case, the important thing is not to exceed the allowed ceiling, that is 300,000 USD. As a rate you can opt for the fixed or the variable.
In order to be able to access the mortgage at subsidized rates, because then at the end of this it is necessary to submit the application within the set deadline and wait for the ranking lists to be released which are displayed on a quarterly basis. The rankings take into account several factors, mainly the composition of the family unit (dependent children, spouse, etc.) and family income (see also Personal loans without paycheck).
Loans for renovation
Another type of financing is designed specifically for those who, on the other hand, need to renovate their main home or simply face maintenance work. In this regard, any extraordinary condominium expenses or the installation of renewable energy systems are also included as a reason.
Various categories of public and state employees, including teachers, can access as soon as they have at least 4 years of seniority.
The amounts payable range from a minimum of 10,000 USD to a maximum of 30,000 USD. Obviously, when the application is submitted, the intervention made must be documented appropriately, providing estimates and / or invoices. The installment will then be determined on the basis of the chosen capital and will in any case have an amount not exceeding one fifth of the salary.
The installments will obviously include the shares relating to the total sum to be returned, the part of interest and there will be a rate intended for life insurance. In this way, the contractor’s family members will be relieved in the event of death. Unfortunately, there are no online Government Agency tools for calculating the installment, but generic ones available online can be used, where you simply enter the rate for the type of loan chosen (see also Loans in 24 hours).
In the event of a decrease in economic availability, it is also possible to request a renegotiation of the loan with a remodulation of the monthly installment to be paid.