Thus, a housing loan from Good Finance can be used, for example, to buy a cooperative share, to buy or to build a property. You can also use the borrowed money to finance the renovation.
The loan can also be used to purchase new equipment for your kitchen, bathroom or general household. However, there is one limitation for the purchase of equipment – the total cost of the equipment must not exceed 50% of the total loan. We wrote about mortgage offers in this magazine.
Housing loans and loans from Good Finance
The amount of the housing loan from Good Finance starts at USD 100,000. The upper limit of this housing loan is not limited. How much Good Finance lends you the money will depend mainly on what bank you provide guarantees and also on what the funds will be used for.
With this home loan you can arrange a maturity from 12 months up to 120 months (the maximum maturity of this home loan is 10 years).
The interest rate on this home loan starts at 9.4%. A one-off fee of 0.8% of the loan amount is payable for loan approval. However, it is at least USD 1500 and a maximum of USD 6000. You will also pay an annual fee of USD 960 (ie USD 80 per month for loan management and maintenance).
Conditions for obtaining a housing loan from Good Finance
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To obtain a housing loan from Good Finance, you must have a personal account with KB. The basic option – My Account – will cost you at least USD 816 per year on fees. In addition, two identity documents, receipts or tax returns are required to obtain the loan.
Good Finance also requires collateral for this housing loan. Guarantee for the provided money can be a deposit guarantee, or as a guarantee can be building savings at Good Credit. Alternatively, it is possible to provide real estate to the bank.
Documents proving the use of the loan – orders, invoices, contracts or other documents must also be submitted when the loan is approved.
The price of this loan also provides insurance against the inability to repay due to loss of employment or injury with permanent consequences or death.