First home loan: better mortgage or financing?
First home: personal loan, Government agency or traditional mortgage?
The loan dedicated to the purchase of the first or second home par excellence is the mortgage, but it is not the only way forward. His greatest success was decreed by tax breaks.
In fact on the rates we have to make a separate speech, because for many years the level was almost in line between that of mortgages and that of personal loans, and only recently, also thanks to a particularly low cost of money, and the outbreak of some scandal, there was a clear separation between them.
The subsidized loans, for the privileged categories
The categories most disadvantaged by some factors, which have nothing to do with the income component, such as young couples, are those that can rely, both nationally, but very often also at regional level, on access to forms preferred loan for the purchase of the first home.
The only limitations are those concerning the possession of certain requirements and the amounts of the mortgage and the value of the property. But are these really conditions of little relevance? Unfortunately, things are not exactly like that.
Very often these mandatory “requisites” prevent access to the subsidized forms of financing to those who would need it most. The Government agency loan also deserves a similar discussion, and not only as regards the loan but also for the multi-year loan, which also includes the request for the purchase of the first home.
Also here are the subjective limitations to give rise to many perplexities, but the voice that weighs most negatively is that of the delivery times. Which leads many to apply for a mortgage with the idea of making a surrogate with the former Government agency, but we must pay close attention to the transition, because the limitations even tend to thicken, finding themselves entangled in an inconvenient mortgage hastily taken only hastily for speed up purchasing procedures.
The alternative loan to the mortgage: the sale of the fifth
Obviously if you do not follow the way of the loan you must also give up the tax deduction, but sometimes this possibility is still unsuccessful, so you can evaluate other situations, which should not be subject to assessments of merit (which in the case of loans are very meticulous and fussy).
Among these, as a ‘queen choice’, the cession of the fifth stands out, which for some is even the only viable route, such as protesters and bad payers (see also the Computer Register of Protests ). It is a bit more expensive from the insurance point of view, but there are no expenses related to the disbursement of a mortgage, including the relative notary’s fee and the expenses for registering the mortgage.