Starter mortgage

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Starter mortgage

A very exciting time and decision. We can imagine that you would like someone who can guide you through this process. Bouvy Advies does this weekly so you are in good hands. I make sure that you do not overlook anything, do not miss any opportunities and I always know a few extra possibilities. There are two types of mortgages: linear or annuitiesAnyone who buys a house for the first time now will have to pay it off in 30 years anyway.

Contribution from your parents or family members to a mortgage

In addition to mortgage providers, your parents or other family members can also play a role in financing the house. These are the possibilities:

  • Donation: A donation is made, this is a maximum of 100,000 and the age of the child or partner is a maximum of 40 years. If more is donated, tax must be paid on this.
  • Parents can lend you the entire mortgage amount, for example with a Family Mortgage. In that case, a lender is no longer needed.
  • Parents become jointly liable for your mortgage. This means that the lender may claim the entire debt from everyone who signed the contract. The rule of thumb is that the parents should also be able to finance the entire mortgage debt themselves and there should be a prospect of the child's income increasing so that he or she can bear the costs themselves within a reasonable time.
NHG

Anyone who takes out a first mortgage can do so with the National Mortgage Guarantee (NHG). This gives the mortgage provider a guarantee from NHG in case of problems. This can occur, for example, in the event of divorce or disability. In addition, with NHG you get an interest discount, which can amount to 0.7 % per year.

Difference between a starter loan and a starter mortgage

A starter mortgage is not the same as a starter loan. A starter loan is an additional loan for the purchase of your first home, in addition to your mortgage. If a house is more expensive than the maximum you can borrow with a starter mortgage, you can bridge this difference with a starter loan. Some municipalities offer this. Read here more about the steps you go through when buying your first home.