Buying a home
As you determine your budget for a new home, bear in mind that you'll need to provide a downpayment of at least 20% of the purchase price. The money for the downpayment can come from your second- and third-pillar funds. Also bear in mind that your mortgage and maintenance expenses should generally account for no more than a third of your household's gross annual income.
Buying costs are the fees (e.g. for the notary and land register) that you will have to pay before closing the deal. Your mortgage loan cannot be used to pay these fees.
The downpayment refers to the part of the buying price that you contribute. It may come from:
BCV's mortgage loans cover up to 80% of the purchase price.
As a rule, the sum of your mortgage loan repayments, interest payments and home maintenance must not exceed a third of your gross household income. These three amounts are estimated as follows:
With Hypo-net, you'll know within minutes if you have sufficient funds to obtain a mortgage loan for the home of your dreams.
With our fixed-rate mortgage loan, you'll know exactly how much your mortgage payment will be every month. No unpleasant surprises from rising interest rates.
With a variable-rate mortgage, your interest rate will closely track movements in the financial markets. This type of loan could be a good choice if you are flexible, willing to tolerate some risk, and not put off by interest-rate volatility.
If you follow the financial markets closely and generally have a good idea of where interest rates are headed, then our Libor-linked mortgage loan could be for you. It lets you take advantage of falling interest rates, or even refinance your mortgage if market conditions become more favorable.