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What are your advantages?

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Without income statement – income information will be obtained following ANAF verification;

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Minimum downpayment starting with 5%;

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Maximum reimbursement period: 30 years;

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The value of the mortgage loan First House can be of at least EUR 1,000  the equivalent in RON or at most:
- 57.000 EUR, the equivalent in RON for finalized homes which are not qualify for be classified as new or consolidated housing;
- 66.500 EUR, the equivalent in RON, for new or consolidates homes.

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The guarantees are represented by:
- First rank legal mortgage on the house, proportionally to the percentage of guarantee in favor of the Bank and the Romanian State, represented by Ministry of Public Finance and property insurance;
- Collaterall deposit to guarantee interest equal to the first 3 interest rate;

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You can have a maximum of 3 co-debtors, to qualify for a higher-amount mortgage loan;

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Equal monthly instalments, consisting of principal and interest

Advantages of the mortgage loan First House::

  • Minimum downpayment starting with 5%;

  • Variable Interest rate consisting of 2% fixed margin + IRCC;

  • RON 0 file analysis fee;

  • Wide range of accepted incomes and the posibility to cumulate them.

How can you access a mortgage loan First House with OTP Bank?

For mortgage First House we invite you to visit any OTP Bank branch to receive counselling regarding product features and how you can acces it. You can call us at 0800 88 22 88 or 021.308.57.10 for an accurate calculation.

 

See all eligibility criteria here and all documents required here.

Find out more about:

Guarantees:

  • First rank legal mortgage on the house, proportionally to the percentage of guarantee in favor of the Bank and the Romanian State, represented by Ministry of Public Finance and property insurance;
  • Guarantee issued by FNGCIMM on behalf of the Romanian State, represented by Ministry of Public Finance, in favor of the Bank, as is stipulated in the Guarantee Contract;
  • Property insurance policy assigned in favour of OTP Bank Romania SA and in favor of the Romanian State, represented by Ministry of Public Finance proportionally to the percentage of guarantee;
    For property insurance policy, OTP Bank recommends home insurance offered by Groupama Insurance. With this insurance you benefit both from Self-ascertainment and from Emergency repair services. Details on alexa.groupama.ro.
  • Collateral deposit to guarantee interest equal to the first 3 interest rate;
  • Mortgage on all credit balances of current accounts.

 

Eligibility criteria

The mortgage loan First House from OTP Bank is available for:

  • Romanian citizens, residents or non-residents in Romania;
  • foreign citizens residents in Romania;
  • clients applying individually or together with a maximum of 3 co-debtors (necessary to improve reimbursement capacity).

 

Seniority at the current workplace:

  • at least 3 months;
  • at least 12 months of activity as registered sole trader (PFA).

 

Total seniority:

  • the last 12 months, without interruptions of more than 31 days - in case the seniority at the current employer is smaller than 6 months;
  • at least 12 months of activity as registered sole trader (PFA).

 

Eligible income:

  • Salary;
  • Income from fees cashed in besides the salary*;
  • Income from management contracts;
  • Income from administration contracts*;
  • Income from management or auditor bonuses;
  • Monthly pay, allowances, benefits, food allowance and other permanent rights;
  • Food vouchers*;
  • Maternity grants*;
  • Commercial income (e.g.: service provision, other than liberal professions);
  • Income from agent/representation/brokerage agreements / civil agreements/conventions*;
  • Income from liberal professions;
  • Income from copyright or intellectual rights;
  • Income from pensions received in Romania/abroad;
  • Income from life annuities;
  • Salary earned by Romanian citizens working abroad*;
  • Income obtained by navigators based on navigation contracts*;
  • Income obtained abroad*;
  • Income from dividends*;
  • Income from real estate renting.

*accepted only as secondary income.

 

Required documents:

  • Identity card (original);
  • Supporting documents for cashed in income;
  • Inquiry agreement for income verifications at ANAF* AND/OR Income statement;
  • Loan application (original, standard bank form) which includes: Statement on payment obligations, litigations with third parties and group relations;
  • CRB (Credit Risk Bureau) inquiry approval; Credit Bureau inquiry approval.
  • Authentic statement under own responsibility using models specific to Program regulations.

* in case of clients for which the income is not reported at ANAF, additional documents are needed (e.g.: employees of MAI, MApN, SRI, Gendarmerie, etc.).

 

Documents related to the real estate object of the Loan application:

 

Mortgaged real estate:
- completed house (registered in the Real Estate Register);

- not completed house

- new homes, for acquisition after completion

 

Documents proving ownership of the real estate, such as: sale-purchase agreement, deed of donation etc.

  • Completion of registration in the Real Estate Register or Land Book excerpt;
  • Sale-purchase pre-contract athenticated or under private signature with certain date/legalization signatures;
  • Guarantee assessment report (drawn up by a company specialised in assessments approved by the Bank);
  • Energy efficiency certificate for one of the classes A, B or C of energetic efficiency.

 

The bank reserves the right to request additional documents, as the case may be.

 

 

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Do you want more details?

Interest   Loans Taxes and fees Values of the reference indicators for loans granted before 31.12.2013

Values of the reference indicators for loans granted by Banca Millennium S.A. until 31.10.2015

 

See below a calculation example for the OTP mortgage loan. 

 

 

Informative calculation
 
Mortgage loan First House in RON:

In case of a loan of RON 221.000, for 30 years, the interest rate is 4,66% (variable interest rate), annual effective interest amounts to 4,76%, the monthly installment is RON 1.141 (repayment method through equal monthly installments), the total cost of the loan is RON 189.718, the paid amount RON 410.718.

 

 

 

 

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