Mortgages And Loans Government Agency For Second Home Purchase

How to get an Government Agency loan for second home purchase 2018

How to get an Government Agency loan for second home purchase 2018

Government Agency home loans are usually referred to as products for the purchase of the residential property. In principle, the subsidized Social Institute ex Government Agency loans are granted to deal with basic emergencies or needs, such as the purchase of a house and residence. In some cases, however, it is also possible to apply for Government Agency loans for second home purchases.

Government Agency loans for second home purchase represent an exception in the Social Institute ex Government Agency offer and can only be requested in specific situations. In this regard, it is necessary to refer to two categories of products: multi-year loans and Social Institute mortgage loans ex Government Agency. But let’s see in detail the conditions and requirements to be met to obtain a loan for the purchase of the second home.

Government Agency loans for first child home purchase

Let’s start by talking about Social Institute ex Government Agency multi-year loans. Products that can be requested to meet various needs, including the purchase of the home. Starting from October 2011, public employees and pensioners can also apply for multi-year loans to buy their son’s home.

Hypotheses that we can fall into the category of Government Agency loans for second home purchase. Those who request an Government Agency loan for the purchase of a child home can in fact sign the contract even if they already own a property located on the Italian territory.

For access to credit, however, it is necessary that the child in question is of age and that he wishes to form his own family unit. It is necessary to remember that while the loan holder is the public employee or pensioner, the child must be the owner of the purchase.

As regards the amount that can be financed, the multi-year loans for the purchase of the child’s home provide for a maximum amount of € 150 thousand. The amortization plan extends for 10 years and the interest rate is fixed at 3.5%.

Second home mortgages Social Institute ex Government Agency

The Government Agency loan offer for second home purchases also includes Social Institute ex Government Agency mortgage loans. Loans that allow to obtain up to 300 thousand USD. They can be requested both to buy the residence house and to face the costs of restructuring, maintenance or transformation of the property.

Social Institute ex Government Agency mortgages are usually granted exclusively to those who are not owners of homes located on Italian territory. However, there are some exceptions. In fact, it is possible to obtain a mortgage loan even if you already own other properties.

In this case, however, access to credit is only possible if the applicant is in one of the following situations.

  • The applicant is the owner of a house, received as an inheritance or by donation, which is not usable as it has been burdened by real rights of enjoyment for at least 5 years.
  • The employee or pensioner owns 50% or less of real estate shares.
  • The subject owns a home that has been assigned to the other spouse by a separation court order.
  • The applicant is the owner of a home that has been declared unfit for use following unforeseeable events and dependent on natural disasters.

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