Mortgage Credit for Refinancing
Have you done your financial calculations and the result was not the desired one?
The Mortgage credit for Refinancing is the ideal solution to cut down your financial efforts.
Advantages
- You can refinance another mortgage credit used to buy a finalized building;
- Extended lending period of up to 35 years;
- You can have several types of income (salaries, pensions, income from freelancing, copy rights, rents, etc.);
- 0% monthly credit management fee;
- 0% early repayment fee;
- Lower interests if you collect your salary or pension with us or choose an account package and collect monthly at least RON 2,000 in the package account.
| Characteristics | RON |
|---|---|
| Minimal amount | 35,000 |
| Maximal amount | 2,000,000 |
Interest and fees
Interest
| Product | CCB Value (%) | Fixed margin (%) | Variable Interest (%) | APRC (%) |
|---|---|---|---|---|
| Credit for house – with salary collection * | 5.90 | 3.00* | 8.90 | 9.59 |
| Credit for house – without salary collection | 5.90 | 3.50 | 9.40 | 10.13 |
APRC is calculated for a credit worth RON 250,000, granted for a 30 years period.
For a credit worth RON 250,000 for 30 years, with the salary/pension collection at Exim Banca Romaneasca*, the monthly instalment is worth RON 1.993,59, APRC 9,59%, total amount to be paid is RON 734.577,71.
* including the clients holding an account package and collecting at least RON 2,000 monthly in the package account.
The interest rate is variable and quarterly revised on January 1st, April 1st, July 1st, October 1st, considering the consumer credit benchmark (IRCC) value calculated by NBR at the end of each quarter, according to the calculation methodology regulated by GEO 19/2019 and published on NBR’s website on the last working day of the quarter.
Fees
| Fee | RON |
| File analysis fee | 0 – with salary collection 500 – without salary collection |
| Monthly credit management fee | 0% |
| Early repayment fee | 0% |
| Sole fee for services upon consumer’s request | 500 |
Other costs to be paid by the client
- Real estate insurance policy – the cost differs depending on the insured amount and/or on the company where the insurance policy was signed.
- Registration tax with the National Registry of Movable Property – RON 87.6.
- Notary’s taxes and fees – the cost differs depending on the taxes and fees practiced by Notaries Public authenticating the mortgage contract.
- The cost of the evaluation report of the real estate brought under guarantee – will be borne by the client prior to the granting of the loan. The cost set and charged by the agreed valuation companies: 500 RON for apartments, 600 RON for ground floor houses with afferent land and 800 RON for double-decker villas with afferent land.
Eligibility criteria
You can apply for a credit if:
- You are a Romanian or foreign citizen with permanent or temporary residence in Romania or with residence in OECD/EU countries;
- You are at least 22 years old and not more than 70 years at the end of the lending period;
- The monthly income per application is at least RON 1,200;
- You can present up to two co-debtors, having the quality of husband/wife, parents, children, brother/sister.
Guarantees
- First rank or lower rank real estate mortgage, provided the higher ranks are in favor of the bank, established over a real estate in credit beneficiary’s property or of other third persons;
- Movable mortgage over the accounts opened with us;
- Insurance policies of the finished building;
- Collateral deposits.
Required documents
- Identity documents of the applicant, husband/wife and co-debtor (in original);
- NAFA accord and income documents (as the case may be);
- Credit agreements, repayment schedules or refinancing letters (if applicable);
- Title deeds of the real estate property, cadastral documentation and the completion of tabulation of the property right.