Payday loan as a self-sufficiency for home loans?
Due to debt control, it is no longer possible to take out a home loan without own resources , as the loan amount can only be 80% of the real estate market value. If you do not have that 20%, you have several options; of course only if you can solve it.
Saving for a home savings fund is a solution
But you have to wait at least four years and not necessarily time. On the one hand, property prices are constantly rising and, on the other hand, there is an opportunity that should not be missed, so it does not suit everyone as self-sufficiency.
As a second option, it is suggested to include the extra property, but those who do not have the opportunity to do so cannot take advantage of it.
Use a payday loan as an own resource
This is immediate and requires no secondary cover. We would say this is perfect for everyone, but unfortunately it would not be true because there are conditions that are not so easy to fulfill: installments on payday loans and mortgages cannot exceed 50% of your verifiable income 60% if your income is higher than the net $ 400,000. If you can involve a co-taxpayer, they will manage your income and any tax burdens on a consolidated basis.
If you vote in favor of the latter, you will have to prepare with the same documents as if you would like to take a regular payday loan and the terms and conditions are the same. 18 years of age, permanent, registered residence in Hungary, valid ID and employer certificate.
As it is not compulsory to record the payday loans own contribution used the same bank where the mortgage concluding the contract, so you should carefully survey the market and find the financial institution which provides the best conditions for you to substitute private funds. Our site makes it easy for you to compare the best deals so you can be sure you are choosing the construction that best suits your situation! If you have any questions, please contact us at our contact details!