Carrying out renovations on the home means improving your daily life and assessing it in real estate terms. However, this is a demanding choice from an economic point of view. For this it is useful to apply for a loan, but which one to choose? Today we will see why take out the Government Agency loans for home renovation, one of the most advantageous proposals.
Home renovation loans for public employees and retirees
Before seeing the characteristics in detail, it is necessary to clarify that the Government Agency loans for home renovation are a declination of multi-year direct loans. Inps management loans are public employees with a repayment plan on the sale of the fifth.
The installment is therefore subject to a fundamental limit: it must not exceed 20% of the salary or pension, based on the profile examined. Multiannuals have numerous purposes.
And it is in the range of uses that we note the ” extraordinary maintenance, restoration and conservative restoration, restructuring “. In relation to this use, the maximum amount foreseen corresponds to 100 thousand USD, we are talking about the gross amount.
As for the documents to be submitted to the request, we find:
- document certifying ownership or bare ownership.
- declaration by the project manager certifying the work in progress.
- metric estimate provided by members of professional registers or by construction companies on headed paper.
- certified notification of start of activity, report of start of works or building permit, if applicable.
- self-certification of the family status.
Sale of the fifth Government Agency in ten years at 3.50%
The evaluation of the interest rate is very important. We detect a fixed TAN corresponding to 3.50%.
However, the role played by expenses should not be underestimated. There are two factors to consider, namely the costs for the administrative aspects (0.50%) as well as the premium relating to the provision for risks.
The repayment plan of the Government Agency loans for home renovation will take place over ten years, 120 monthly installments.
Government Agency Multi-year Loan Requirements
The requirements governing the possibility of obtaining Government Agency loans for home renovation are also to be assessed. The relevant public is represented by public employees and pensioners registered in the Unitary Management of credit and social benefits.
INPS provides an open- ended employment contract, four years of service seniority and as many contributions paid to the Management.
For temporary hires, however, another profile must be respected:
- a contract of at least three years.
- contract active throughout the loan repayment period.
- the severance indemnity must be provided as a guarantee of reimbursement.