Common loan terms for mortgage loansOn October 22, 2019 by admin
If you are looking for a loan, it is always important to know the terms and conditions of the loan. On this page we find out some of what is usually included in the terms.
What it takes to get a loan
The bank has certain requirements for you to get an application for a Jonilage loan approved. For example, you are required to be of legal age and similar. Then of course you should have or buy a house to get a Jonilage with it as collateral. The economy must also be good enough to cope with the loan taken. This means that you should have a permanent job or similar that provides a steady and good income.
- How much can you borrow – Since a Jonilage is divided into different parts, it is important to know how much you can get in the Jonilage and how much will be in other parts. You will also find information about the lowest loan amount you can borrow. The lowest loan amount is often around SEK 100,000 and the largest possible amount is several millions. In principle, you can say that if you have a sufficiently good finances you can lend to the house provided that it is not extremely expensive house to buy.
- Amortization – Partly how to repay your loan but also for how long. Often you can choose a very loan repayment period on a Jonilage, even up to 50 years under the right conditions.
- Interest rates and fees – The usual thing about Jonilage loans is that you choose to fix interest on either 3 months (also called variable interest rates), 1, 2, 3, 4, 5, 7 or 10 years. If the bank charges a few other fees for your loan, it must also be included in the terms. You can also divide the loan into several different maturity periods.
Delay rate and delay fee
If you do not manage the payments, it is often extra costs when the bank charges fees. For a Jonilage with the house as collateral, there is a risk that the bank will demand the house as payment for the loan. Read what applies to this.
This was a small pick of what you can read in the terms of the lenders when you apply for a Jonilage. Therefore, just see this as a small easy review. Therefore, when applying for a loan, we strongly recommend that you look up exactly what the lender is writing.
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