Are you looking for a larger flat or family home, or are you looking for an improvement, to invest in the future for your children or to finally get out and live by yourself? There are many reasons to take advantage of a Fio Mortgage. Convince yourself of all the things we can help you with.
Mortgages provide EU citizens or EFTA, who have the SR permanent or temporary residence, and their income is generated in the Slovak Republic. Temporary residence shall be at least one year. A citizen of another country must have a permanent residence in Slovakia for a minimum period of 1 year and his income must be generated in the SR.
Why a Fio mortgage?
- No fees for loan origination, current and loan account administration, reserving funds or for drawing funds.
- Discount of 0,4 % applies to refinancing mortgages up to 70 % loan-to-value with incident free customer´s credit history
- You also can select additional services with a mortgage including free early payments or the Mortgage Savings Account.
- You can check current interest rates here.
Reduce your interest to 0% and pay less each month
Do you have savings of at least EUR 2 000? Let them reduce your interest and thus monthly mortgage payments. Your money is available at any time, and you can save money every month.
Deposit your free funds (minimum EUR 2 000) on the Hyposavings account, which is completely free, and we will not charge you any interest on the principal amount corresponding to your current Hyposavings account balance.
If your balance on the Hyposavings account is equal to the principal of the mortgage for the whole period of its repayment your interest rate will be 0% per annum and you will only repay the principal. Thus, you will not pay any charges at all. Your savings will still be available and you can freely dispose of them, even withdraw all the balance any time.
Exceptional instalment
Our mortgage can be repaid prematurely at any time without any fees and penalties (except for loan refinancing from another bank). It is up to you how often you will make extraordinary payments and how much this extraordinary instalment will be. You can even repay prematurely the entire loan with your own funds for free.
| RATE FIXED FOR 3 YEARs |
|---|
| Mortgage amount | from 40 000 EUR | to 40 000 EUR |
|---|
| Refinancing | 3,98 % | 4,08 % |
| Purchase | 4,08 % | 4,18 % |
| Other | 4,38 % | 4,48 % |
Guaranteed rates are valid for loans up to 80 % of the value of the property and assuming all conditions for discounts are fulfilled. Rates with more than 1 year fixation can be found out through our Mortgage calculator.
Mortgage calculator
American mortgage
Would you like to borrow money and you own the property that you could use as collateral? If so, take advantage of American mortgage. The borrowed money can be used for any purpose, such as reconstruction or purchase of a new car.
If you are interested in American mortgage, please, contact any of our mortgage specialists.
How to get a Fio Mortgage?
You can get additional information and an example monthly installment calculation at any of our branches.
Our specialist with you will take your requirements and will sell you a list of documents needed for the equipment loan. Documents are essential application for a mortgage, ID card, proof of income, documents justifying the purpose of securing a loan, including awards. These documents further bank and decided on the allocation of credit. As a refinance you have the real estate valuation is not older than 6 years, you can use this award.
If you are an employee and you show income from dependent activities, you simply need proof of income and bank statements showing your ability to make mortgage payments; statements cannot be any older than 30 days (pursuant to Point 1 below). If you are self-employed or have other sources of income, you must provide your physical person income tax declarations including all annexes and confirmed by the tax authorities for the previous 2 years (pursuant to Point 2 below).
After your appraisal is completed by a Fio banka contracted appraiser based on your order, the materials needed for a mortgage will then be completed.
Your income can come from the following sources:
- Dependent activities in Slovakia or abroad,
- Business activities from self-employment activities or side income,
- Existing or future real estate rentals in Slovakia,
- Other sources - income can include family contributions, old-age pensions, service pensions, etc.
Related documents
- Mortgage application
- Application - co-applicant
- List of materials
- Confirmation of employment income
- Proof of income statement (SK)
- Emplyoment income verification (EN)
FAQs
Assuming the rest of your finances are solid, a credit score of 700 should qualify you for all major loan programs: conventional, FHA, VA and USDA loans all have lower minimum requirements, and even jumbo loans require a 700 score at minimum.
What credit score is needed for a 300k house? ›
Federal Housing Administration (FHA) loans need at least a 580 FICO Score with at least a 3.5% down payment (which amounts to $10,500 on a $300,000 home). Conventional loans require a minimum FICO® Score of 620 along with a 3% down payment (which amounts to $9,000 on a $300,000 home).
How much of a loan can I get with a 700 credit score? ›
You can borrow from $1,000 to $100,000 or more with a 700 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.
What credit score do you need to get a mortgage? ›
You'll typically need a credit score of 620 to finance a home purchase. However, some lenders may offer mortgage loans to borrowers with scores as low as 500. Whether you qualify for a specific loan type also depends on personal factors like your debt-to-income ratio (DTI), loan-to-value ratio (LTV) and income.
What does my credit score need to be to buy a 200k house? ›
Credit score needed to buy a house by mortgage type
| Loan Type | Minimum Credit Score |
|---|
| Conventional loans | 620 |
| FHA loans | 500 (with 10% down payment); 580 (with 3.5% down payment) |
| USDA loans | 640 |
| VA loans | The VA has no minimum limit, but lenders generally like to see at least 620 |
1 more rowJan 10, 2024
You can borrow over $100,000 with a 780 credit score if you get a mortgage or a home equity loan. Keep in mind, the exact amount of money you will get depends on other factors in addition to your credit score, such as your income, your employment status and even the lender.
Can I afford a 300K house on a 70K salary? ›
If you make $70K a year, you can likely afford a home between $290,000 and $310,000*. Depending on your personal finances, that's a monthly house payment between $2,000 and $2,500. Keep in mind that figure will include your monthly mortgage payment, taxes, and insurance.
Can I afford a 300K house on a 50k salary? ›
A person who makes $50,000 a year might be able to afford a house worth anywhere from $180,000 to nearly $300,000. That's because your annual salary isn't the only variable that determines your home buying budget. You also have to consider your credit score, current debts, mortgage rates, and many other factors.
Can I afford a 300K house on a 60k salary? ›
An individual earning $60,000 a year may buy a home worth ranging from $180,000 to over $300,000. That's because your wage isn't the only factor that affects your house purchase budget. Your credit score, existing debts, mortgage rates, and a variety of other considerations must all be taken into account.
What is the monthly payment for a $100 000 mortgage? ›
Monthly payments for a $100,000 mortgage
| Annual Percentage Rate (APR) | Monthly payment (15-year) | Monthly payment (30-year) |
|---|
| 6.25% | $857.42 | $615.72 |
| 6.50% | $871.11 | $632.07 |
| 6.75% | $884.91 | $648.60 |
| 7.00% | $898.83 | $665.30 |
5 more rowsYou can borrow $50,000 - $100,000+ with a 720 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.
What is a good credit score to buy a car? ›
A target credit score of 661 or above should get you a new-car loan with an annual percentage rate of around 7.01% or better, or a used-car loan around 9.73% or lower. Superprime: 781-850.
What is the lowest credit score ever? ›
With the most popular credit-scoring models, the lowest credit score possible is 300, but some people may have no credit score due to limited or nonexistent credit histories. Missed payments, late payments, bankruptcies and defaults can lead to lower credit scores.
What credit score do you need for a $250000 mortgage? ›
To qualify for a conventional loan, you'll need a credit score of at least 620, though some lenders may choose to approve conventional mortgage applications only for borrowers with credit scores of 680 and up.
How long does it take to rebuild credit? ›
How long does it take for your credit score to go up?
| Event | Average credit score recovery time |
|---|
| Missed/defaulted payment | 18 months |
| Late mortgage payment (30 to 90 days) | 9 months |
| Closing credit card account | 3 months |
| Maxed credit card account | 3 months |
3 more rowsJul 27, 2023
To qualify for most types of mortgages, you'll need a credit score of at least 620. Some loan types, such as FHA loans, accept lower scores, but a higher score will almost always get you the lowest available interest rate. And that could save you a significant amount over your loan term.
Is a 700 credit score good for a 20 year old? ›
So, given the fact that the average credit score for people in their 20s is 630 and a “good” credit score is typically around 700, it's safe to say a good credit score in your 20s is in the high 600s or low 700s.
Can I get a good mortgage rate with a 700 credit score? ›
The better your credit score, the better the rate you'll get on your mortgage. To access the best mortgage interest rates, aim to have a credit score at least in the 700s.
What credit score is needed to buy a house with no money down? ›
Eligible borrowers typically include those with debt lower than 41 percent of income, a fairly good credit score above 620, no previous home ownership in the last 36 months, primary residence intent for the property being bought, and the overall financing is 97 percent maximum.
