CreditAvantaj Housing Loan

How can you obtain the credit?

Come to Credit Europe Bank with the following documents

• ID copy;
• Income statement and income tax records;
• Work contract copy and other documents according to the specific situation of each solicitor if necessary,

and soon you can buy what you want!

Eligibility criteria for credit solicitors

• The solicitor should be a Romanian citizen with permanent residence in Romania; the solicitor must have the working place or the residence in the same city with the Credit Europe Bank branch;
• Solicitor's age - between 18 and 70 years old;
• We are accepting a wide range of income obtained by the loan solicitor: salaries income, retirement income, income obtained by self-employed persons authorized to develop freelance activities (notaries, lawyers, doctors, pharmacist, etc.), incomes from dividends, incomes from lease of fixed assets, etc. Both the solicitor and the co debtors should prove, by specific documents, that they obtain at least one of the income categories accepted by the bank.

Minimum eligibility criteria for the most frequently types of income:

• Salaries income - if the income is obtained in Romania, the labor contract should be concluded for a indefinite period or for a definite period bigger than the loan tenor. The solicitor should work at the same employer for at least 3 months or should work at least one year without interruptions, no matter the employer;
• Retirement income - if the income is obtained in Romania, it should be obtained for at least one month; incomes from disability pensions are accepted only if they are permanent;
• Income obtained by self - employed persons authorized to develop freelance activities - if the income is obtained in Romania, it should be obtained for at least six months.

Advantages

• Freedom of choice - we are accepting as guarantee the mortgage on the real estate you want to buy or another one, belonging to you or to another person (individual or legal entity);
• Accessibility - attractive fixed interest rate in the first year. Afterwards, the interest rate varies only according to EURIBOR/ROBOR 6M index depending the loan currency EUR/RON;
• Flexibility
  • you can receive the pre-approval taking into consideration your incomes even before finding the real estate to be bought; the documentation for the real estate can be brought after the moment of applying for the loan
  • the down payment can be justified also at the moment of signing the real estate buying contract.
• Professionalism - permanent assistance from a bank consultant
• Early reimbursement is allowed at any time and for any loan amount. For partial early reimbursements, you have the possibility to choose one of the two bellow mentioned options:
  • early reimbursement with decrease of the monthly payment while the loan tenor will remain the same;
  • early reimbursement with decrease of the loan tenor while the monthly payment will remain the same.

Example of Calculation

Housing loan in EUR (example of calculation)
Loan Value EUR 80.000
Effective interest annual amount (DAE) 11,33%
Loan tenor 20 years
Monthly average EUR 749,44
Total amount paid by the client EUR 186.779,85
Loan costs are:

• fixed interest rate in the first year 8%
• floating interest rate EURIBOR 6M + 7%
• analysis fee EUR 1.900
• monthly management fee 0.2% applied to loan outstanding
• fee for periodic registration of the guarantee in AEGRM RON 31,46
• removal fee from AEGRM RON 20,42

Housing loan in RON (example of calculation)
Loan Value RON 328.000
Effective interest annual amount (DAE) 15.32%
Loan tenor 20 years
Monthly average RON 3.828,01
Total amount paid by the client RON 954.723,89
Loan costs are:

• fixed interest rate in the first year 11,5%
• floating interest rate ROBOR 6M + 5.5%
• analysis fee EUR 1.900
• monthly management fee 0.2% applied to loan outstanding
• fee for periodic registration of the guarantee in AEGRM RON 31,46
• removal fee from AEGRM RON 20,42