What are the tools for calculating the Government Agency Social Institute mortgage? This credit line focused on the first house is provided by Social Institute and allows you to receive up to 300 thousand USD. To take into consideration what it really has to offer, discover the Government Agency installment mortgages online calculation function. Here’s how to use the Institute’s precious service.
Management of civil servants, purchase of the main house
The Government Agency loan is part of the Social Institute financing of the Public Employee Management. It is an opportunity introduced to meet the needs related to the first home, from construction to renovation through purchase.
The use made of the credit received by Social Institute defines the maximum amount payable. Beyond the purpose of the request, there are requirements that regulate the possibility of financing. Given all these variables it is essential to perform the Government Agency installment mortgage calculation.
The loan is aimed at members of the Unified Management of credit and social benefits, both employees and pensioners. The former, however, must be in possession of a permanent contract.
Staying on the subject of constraints, we note a seniority of enrollment of at least one year. As for the duration factor, the user can choose between 10, 15, 20, 25 or 30 years. This does not apply to everyone, who in fact is at least 65 years old can receive a mortgage of maximum 15 years.
The fixed rate is calculated according to the loan to value (LTV) method while the variable rate corresponds to the 6-month installments plus 200 points.
Up to 300 thousand USD are paid for the purchase or construction of the first house, a limit that drops to 150 thousand USD for renovation and other interventions. You can find all the details in our article on the Government Agency first home loan.
How to use the Social Institute services
Government Agency installment mortgages through Social Institute services. Authentication is not required to calculate the installment and other elements of the repayment plan. Therefore, the user does not need to have a PIN.
Online Social Institute mortgage calculation: rate, duration and deadlines
Government Agency mortgages personalized installment via the Web. Once the simulation page is reached, the type of interest rate will be indicated. A form will then request the inclusion of three other essential data for a custom calculation: the value of which will be subject to appraisal, the amount requested and the repayment duration.
In this way you will have a picture with all the installments that will make up the amortization plan. The rate and deadlines will also be specified.