National Mortgage Guarantee: Who Qualifies and What You Get
Learn how the National Mortgage Guarantee can lower your interest rates and provide a financial safety net if you have to sell your home at a loss.
The National Mortgage Guarantee is a program designed to provide financial security to homebuyers and lenders by offering a safety net in difficult market conditions.
Who it's for
This scheme is available to buyers who are purchasing a home that falls below the current price limit set by the program.
What you get
By using this guarantee, you may benefit from a lower interest rate on your mortgage. Additionally, it acts as a safety net that protects you if you are forced to sell your home for less than the remaining amount of your mortgage.
What it costs you
There is a one-time fee, known locally as a borgtochtprovisie, which is calculated as 0.6% of your total mortgage amount.
The catch to know
This scheme is intended for people buying a home to live in; it is not available for buy-to-let properties intended for investment.
How to apply
- Check if the purchase price of your new home is within the allowed limit.
- Consult with your mortgage provider to see if you qualify for the lower interest rate.
- Confirm the one-time fee amount required for your specific mortgage.
- Finalize your mortgage application through your lender.
For more details, visit https://www.nhg.nl