If you are interested in a young mortgage that is attractive in terms of financing to obtain your home, then you have to evaluate the possibility of making an application at Ibercaja, we are going to tell you in this article the conditions and benefits that this bank offers you. So it will excite you.
Ibercaja young mortgage
Is mortgage focuses on people who are under 35 years of age and who have little savings, so it provides you with a financing up to 95% for the purchase of housing. Therefore, the agreed interests are less than those granted to people older than those, remaining in 1,30% with a term of 25 years.
Although it should be mentioned that this type of credit have a negative side that many do not like, since to obtain this type of interest you must have contracted some products of the Ibercaja entity such as: use a credit card, establish both your payroll and receipts, contract life and other housing insurance, as well as invest in a systematic contribution plan, if not, then the interest is determined at 2.60% so if you want the minimum interest you must link to these products.
Interest held by the Ibercaja young mortgage
We have already mentioned that the minimum interest of this type of mortgage is the 1,30% which would correspond to the second year of having approved the credit. However, you have to meet certain bonus requirements that you must play in order to keep it.
As for payroll, they should be about 2.500 eurosuse for a year the credit cardcontract two insurances belonging to Ibercaja and finally you have to contribute a minimum of 75 euros each month to a systematic contribution plan.
Now, one of the advantages is that Are not necessary commissions for initiation and not for early repayment. If you want to calculate the mortgage payments before applying, you can use the simulator provided by the Ibercaja entity on its website.
The amount that Ibercaja provides you for the mortgage has a limit of 95% for the appreciation of the home you like, as long as the amount is less than 100,000 euros. Therefore, the term of settlement of this mortgage loan is 25 years maximum..
Why is it important to apply for a young Ibercaja mortgage as a couple?
As has been determined through analysis that when you request a mortgage credit As a couple, it provides you with more advantages, the important thing is that both have a salary income in accordance with the budget to pay for the desired home. It is more likely that the credit will be approved faster and with the lowest rate in the market. Remember that the most important thing is to maintain financial health.
Consequently, the default risk is much lower and the opportunity to get the mortgage increases to 80% since this entity is interested in attracting customers under 35 years old to provide you with double conditions, since they are potential and permanent. On the other hand, if the mortgage is in the name of two people, the risk of not paying it decreases because if one of the two is left without income, the chances of not paying the installments are reduced. Since one can cover that part of the fee, until the other’s income stabilizes.
For this reason, it is necessary that couples get the mortgage together to reduce the risk of non-payment, the entity asks both of them to have monthly income, very few debts and that whose income, when calculated, allows paying future installments without inconvenience.
For that reason, the young they have the advantage of acquiring a mortgage without the initiation that the entity usually requiresso it is not necessary to have so much money saved to obtain the home, by complying with the conditions established by the bank.
Find the best financing conditions
If you are looking for a mortgage loan as a couple and they enjoy a stable economic situation and are under 35 years of age, they have the accessibility of acquiring this type of credit at lower interest rates offered by the bank, in terms of the fixed rate, the minimum 1.30% and the variable rate more than 1% depending on the Euribor change.
It is advisable to compare the offers that banks offer in terms of mortgage loans to be able to negotiate, both in traditional banking entities and those online, although the latter are not known, they usually have better conditions compared to large banks.
However, at Ibercaja you can get the best fixed rate mortgages on the market, which is why it is established as the most sought after. Nevertheless, it is necessary to remember that certain products have to be linked so that the value of the interests can decrease.
The Ibercaja fixed rate mortgage Until now, it has been the best, and the interest depends on the term determined for the return of the money, if it is up to 15 years it is 1.15%, up to 20 years about 1.25% 1.30% if it is up to 25 years . As long as you contract the products that the entity determines, starting with the home insurance provided by the same entity.
Risks of applying for a mortgage as a couple
It is well known that mortgages are credits that have to be paid for a long time and future risks have to be evaluated, for what reason? These are two people who are assuming a responsibility with the bank during a long payback periodbut it must be estimated if the relationship is stable enough to go on that path.
That is why the ideal is to sit down and consider evaluating each of the most relevant points of the relationship to improve, or else desist from the mortgage loan application, since the bank runs risks for having approved the request for said credit.
Now knowing the terms of Ibercaja’s young mortgage and If you are under 35 years old, you can now start to decide which home you want so that you can start your process.