The home loan is that useful loan to face any needs concerning your home, from a purchase which could be a new bedroom to a larger purchase which could be the renovation of the entire house.
Supporting this type of expenditure, for many Italian people and families, is a real problem, it puts in difficulty as it is a type of expense to be addressed independently. So here is an excellent solution: the home loan, by taking advantage of this type of financing, can meet your needs.
Home loan: what types exist?
The home loan can be divided into two bands as well as auto loans. We therefore find two macro possibilities:
- targeted loans
- personal loans
In the first case, it is the lender that has an agreement with the shop in which it is decided to purchase the asset (e.g. bedroom) to provide the loan, therefore the retailer will rely on it and the costs are already predefined.
In the second case, or for personal loans, the applicant can ask any credit institution and it is a non-finalized loan, therefore the liquidity obtained can be used as desired.
Another type of non-finalized loan available to the applicant is the transfer of the fifth, which allows to obtain significant sums and allows a gradual repayment, with time periods of up to 10 years. The loan value will be calculated net of salary and the installment must be less than or equal to one fifth of the salary or net pension.
Home loan: how to apply for renovations?
Do you need to renovate a room or your whole house? You have no liquidity available? Home equity loan could be the answer to your needs.
In this particular circumstance, the ideal would be to access a non-finalized personal loan, so as to have the freedom to use the liquidity as you wish, preferring one expense or another.
Using the home loan for renovation you will have the opportunity to collect the amount you need, attention as anticipated in this article, a valid solution is the transfer of the fifth to obtain amounts up to 75 thousand USD, more than valid amount to be able to proceed with the renovations of your home.