New Lender bank, like every bank, generally provides 80% credit for the house planned to be purchased between 1 Year (12 months) and 10 Years (120 months).
Interest-free housing loan installments
The New Lender bank implements a sound banking activity with the slogan “sound banking”. Apart from New Lender interest-free housing loan installments, there are extra expenses that we need to pay.
- Residence insurance
- Life insurance
- Mortgage Fee
- Appraisal Fee
The sum of the extra costs mentioned above is approximately 1300 USD.
New Lender housing loan conditions ;
- We must be 18 years old.
- Our proper payment of the loans we have received before.
- Documenting our income.
- If you are married, your spouse must have consent.
- It must pass as a residential dwelling registered in the land registry.
- The housing certificate must be obtained.
If we fulfill the above New Lender mortgage loan conditions, we can apply for a loan to the bank.
New Lender interest-free housing loan application documents;
- Birth certificate
- Invoice or residence document
- Deed copy of the house we will buy
- Our income certificate
New Lender Housing Loan Interest Rates?
New Lender bank does not offer excess interest rates like other participation and public banks. The borrower applies two types of interest to the borrower. It shows itself among other banks with its interest-free housing loan rates.
The interest rates given by the “sound banking” model are one step ahead of other banks with the payment plans it implements or presents. Generally, the amount we will withdraw at the New Lender bank is not important.
New Lender interest-free mortgage loan rates are as follows: 1 year (12 months) and 5 years (60 months) with a maturity loan calculation of 1.12%. Housing loan calculations are made for 6 years (72 months) and 10 years (120 months) with a rate of 1.14%.
New Lender Housing Loan Calculation Table?
We will try to give you examples below with the interest rates of the Kuveyt Turk minister we have given you above. In the table we give below, we will also share the expenses such as appraisal fee, mortgage fee received by New Lender bank.
|5 years (60 months)||12 times 10 = 120|
|Home Loan Calculation with 1.12% Interest Rate||Home Loan Calculation with 1.14% Interest Rate|
|Loan Amount||100,000 USD||Loan Amount||100,000 USD|
|Profit Rate||1.12%||Profit Rate||01.14%|
|Allocation Fee||500 USD||Allocation Fee||500 USD|
|Mortgage Fee||225 TRY||Mortgage Fee||225 TRY|
|Appraisal Fee||915 USD||Appraisal Fee||915 USD|
|Monthly Installment||2.73 USD||Monthly Installment||1.534 USD|
|Total amount||1 USD||Total amount||184.017 USD|
We recommend you to read our previous article titled How to Get Interestless Housing Loan. You can browse the topics that may be of interest in our New Lender category.