May 25, 2024

Can I Get a Whole Housing Loan Without a Down Payment?

Citizens who will take a housing loan should determine the suitable house and budget just before applying to the bank. After thoroughly researching the price, location and other details of the house you will buy, you should proceed with the bank transactions regarding the sale of the house, but you should not forget the details about whether the house to be sold is zero or whether a residence permit has been obtained. While many citizens argue that it is possible to buy a house by relying on bank loans, it should be taken into account that there are thousands of citizens who are victims of loans today who cannot afford to buy a house on a whim.

Another detail that should be taken into account is that you need to calculate well whether the amount that will be left to the people who will buy a house with a housing loan will be able to manage you after the amount they will pay.

While taking a housing loan, banks already check your income in detail and immediately give a loan up to the amount that you can pay. There are houses and banks that allow you to get a 120-month term housing loan without a down payment, while a certain part of it must be given as a minimum down payment in housing loans. As you can only get housing loans from certain houses and certain sellers without a down payment, their location and prices are completely incompatible with each other. Generally, it is not profitable because sales are made at higher interest rates.

What is the Minimum Down Payment Amount?

You have the chance to get a loan for the general amount you can get in a housing loan, up to 80% of the number of the house. You have to give the remaining 20% ​​directly to the bank as a down payment . For example, if the people who will get a loan buy a house worth 200.000 TL, the maximum loan they can get is 160.000 TL.

Do not give the down payment to the seller!

Some fraudsters aim to defraud the citizens who will buy a house by stating that the down payment amount will be taken by them, and they are successful in this request. You should only deposit the down payment determined for the house you will buy with a loan from the bank to the bank, and you should not make any payments to the person selling the house for extra transactions.

If I Buy a Housing with Credit, Will a 20% Down Payment Be Deducted?

The down payment will not be deducted from the loan you will withdraw. If the value of the house is 200,000 TL, the loan amount you will take as a result of the 20,000 TL down payment you will give will be 180,000 TL. As the amounts increase or decrease, there will be adjustments in the down payment and loan numbers, so it is for your benefit to take these factors into consideration when taking a loan.

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