We made an appointment to understand the real situation of the needs from an economic point of view in order to access the mortgage. Usually, to understand what can be done, one brings their documentation, pay slips, and tax returns to get an idea of the installment and, above all, the maximum value of the house that can be afforded.
It is therefore possible to reach up to 95% of the property’s value, good news! Of course, it all depends on the bank and the current offers; this, for example, is a limited-time offer and we do not know how long it will be active. In the meantime, let’s consider that in Italy, for a house worth 100,000 euros, you need between notary fees, state taxes, and real estate agency fees, and a down payment of at least 20,000 euros. In short, to have a minimal chance, there is also a minimum amount below which you cannot go. Surely, a little more than that amount will be needed, but somehow we will manage!
Our goal remains to look for a small house, without too many pretensions, but that is habitable and does not require major maintenance. Klaus is good with manual work and will certainly be able to save on future repairs. Unfortunately, the real estate agency is, in some cases, necessary to have a little security regarding the review of the documentation to avoid unpleasant experiences once the house is purchased. The notary and state fees are mandatory. The percentage of the down payment varies depending on the maximum percentage granted by the bank. These are the main pieces of information we have understood and we are pleased to share with you.
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