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The amount of down payment required to purchase an existing home depends on various factors, including the purchase price, financing terms, and the lender's specific requirements. However, a down payment of about 20% of the purchase price is generally recommended to secure favorable financing terms.

The term of your mortgage depends on various factors, such as the amount of your monthly payment, the loan amount, and any extra payments you might make. However, the only factor you can choose yourself is the length of the fixed-rate period. In recent years—especially since the pandemic—interest rates have been rising steadily. Therefore, we recommend opting for a shorter fixed-rate period at this time.

The annuity payment should not exceed 35% of your net household income. This will give you enough leeway for other daily expenses and living costs.

The costs of a home loan are made up of various factors that you should take into account when planning your financing. These include:

• The purchase price of the property
• Incidental purchase costs, such as real estate transfer tax, notary fees, and land registry fees
• Financing costs, such as interest and loan fees
• Construction-related costs, such as building permits, site preparation, and construction management
• Commitment interest charged on undrawn portions of the loan