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Loans > Mortgage loan
MORTGAGE LOAN - MARFIN HOME
a roof for your dreams
 
TERMS AND CONDITIONS
Purpose: The loan can be used for the following purposes:
Acquisition of an immovable
Construction of an immovable
Renovation of an immovable
Land acquisition.
Eligibility criteria
Age: minimum 21 years (at the date of depositing the credit application ) -max. 72 years: the limit of 72 years can not go over the final reimbursement date
Indebtment degree:up to 45% of the net income
Loan Amount:
The minimum amount of the loan is set at the equivalent of EUR 7,500.
Maximum 80% of the market value of the immovable.
Financing
The financing can go up to 75% of the immovable asset price in case of immovable assets.
The client's down payment is minim 25%.
Currency:EUR/RON.
Loan Term: 35 years.
Repayment:Equal monthly instalments (composed of principal and interest).
Interest Rate:
Loans in EUR: EURIBOR 3M + FIXED Margin 6.2% - DAE*: 7.79%
Loans in RON: ROBOR 3M + FIXED Margin 6.7% - DAE*: 14.83%.
Securities:
First rank Mortgage on the immovable asset.
Assignment of the house insurance policy for mortgaged immovable asset (except lands). The value of the house insurance policy should be of minimum 120% of the loan amount.
Pledge over the Borrower's current accounts openned whit Marfin Bank (Romania) SA
Early pre-payment:
Possible any time, pre-payment fee 0%.
Loan Fees and Costs:
Loan Analysis fee: 1.5% flat(payable once, at the signing of the loan contract, from own resources
Loan Administration Annual fee: 0.3% per year from the outstanding principal.
Unique Service Fee: EUR 25 (twenty five) applicable for modification of the reimbursement date of the loan, rental/free usage agreement, consent for merger of immovable assets, consent for dismembering, consent for demolishing, consent for construction, introducing new securities, modification of existing securities, introducing new Guarantors, modification of existing Guarantors, consent for changing the branch during the loan tenor, consent for changing the holder of the insurance policy.
* Example of DAE (Dobanda Anuala Efectiva) calculation:
| Loan Amount:
| EUR 100,000
| RON 420,000
|
| Tenor:
| 420 mons. (35 years)
| 420 mons. (35 years)
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| Monthly instalment:
| EUR 645,81
| RON 4,738,02
|
| Interest rate:
| 7.10% p.a.
| 13.41% p.a.
|
| Loan fee:
| EUR 1,500
| RON 6,300
|
| Total amount to reimburse:
| EUR 271,240.2
| RON 1,989,968.4
|
| DAE:
| 7.79%
| 14.83%
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