The activation of a mortgage determines the constitution of an economic commitment that will unfold in the space of tens of years. The study of the repayment plan is consequently an activity that must be carried out scrupulously. As for the financing for the first home ex Government Agency there is a tool that allows online simulation: Government Agency mortgages first home installment calculation, how to perform it on the Social Institute portal.
Calculating mortgages online: what to do for the simulation
The simulation of the loan repayment plan pursuant to Government Agency is produced by using the features of the website of the National Social Security Institute.
The URL of the site is www.Social Institute.it, the page where the calculation system has been implemented is called ” All services “. The related link has been inserted in the portal home.
The service to which the user must refer is ” Public employee management: mortgage loan amortization plan simulation “. This is the central tool for our in-depth analysis of Government Agency mortgages before home installment calculation.
The simulation is elaborated on the basis of the data communicated by the user of the site. It is therefore up to the user to define the interest rate (fixed or variable), the value of the home, the economic entity of the loan he wants to request, the duration, etc.
Unlike many other Social Institute online features, the simulation does not require a login. Social Institute members who do not have a PIN can therefore calculate the loan.
First Social Institute home loan for civil servants: the contractual characteristics
Not all Social Institute members can receive the former Government Agency mortgage. It is in fact a reserved proposal for those enrolled in the unitary management of credit and social benefits.
Employees with a permanent employment contract are involved as well as pensioners. The loan allows those who meet the requisites to receive high amounts: 300 thousand USD can be reached. In terms of duration, there are several variations: the minimum time interval is 10 years, but it can extend up to 30 years. The other relevant aspect corresponds to the interest rate.
The beneficiaries of the former Government Agency loan will have a fixed rate amortization plan, defined with respect to the LTV system, or variable (6-month Euribor plus 200 points). The request will be sent via the Web (using the Social Institute online service Mortgage Loans Questions ). There are specific periods within which the request can be made: the first ten days of January, May or September.