May 25, 2024

How to Get an Interest-Free Home Loan?

Those who want to own a house can come across many options when searching for interest-free home loan terms. However, in order to take advantage of the interest-free housing loan, some criteria must be met. Firstly , interest-free housing.In order to become a home owner by taking advantage of the loan, TOKİ should be applied. Another condition is that the widows of those who are entitled to a veteran’s pension due to their duties, children if their spouse is not alive or married, their parents if they do not have children, relatives of privates and non-commissioned officers who were martyred while on duty can benefit from interest-free housing loans. However, having a right does not mean buying a house from everywhere. It is given on the purchase of one of the houses built by TOKİ from an interest-free home loan. In this way, housing loan is used 2 times. It is not possible to benefit from this opportunity for the third residence.

In which cases is an Interest-Free Home Loan Used?

In addition, banks also provide home loans with zero interest. In this type of loan, only the principal is paid. No other payment is made other than the principal used. Although zero-interest loans are generally used for vehicle loans, it is also valid for housing loans. Interest -free home loans , especially within the framework of the agreements made by large construction companies with banksowns a home with its advantage. Selling with a zero-interest home loan is generally valid for new construction projects. The interest-free housing loan is the result of an agreement between the bank and the construction company. It is impossible to say that banks also make losses from interest-free housing loans. The bank also earns profit from this type of loan. In order to benefit from this type of loan, the first thing to do is to deposit the down payment to the account of the construction company.

What are the Interest-Free Home Loan Terms?

For interest-free housing loans, the construction projects that have an agreement with the banks should be sought, and then the construction company should be contacted. However, the maturity period for interest-free housing loans should not be expected to be 120 months. These types of loans are usually offered with 12 maturities. In this case, high monthly payments are inevitable. It is known that financial companies do not have as much difficulty as banks when it is desired to buy units by taking advantage of interest-free home loans. For this reason, especially some large construction companies have established their own finance companies and offer interest-free housing loans through these companies, where they will own housing. However, banks can also provide interest-free home loans with a certain maturity rate through the contracted construction companies.gives. In this credit system, which is preferred by those who do not want to pay interest, no interest is paid until the end of the maturity period, but care should be taken to make the payments on time. It should be kept in mind that the default interest will be applied when the loan payment is delayed.

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