Apartment mortgage

Obtaining financing to purchase an apartment can seem challenging, but with the right mortgage, it can be straightforward. At Finaram, we make apartment mortgage process simple, secure, and financially sensible.

As real estate prices continue rising across the Czech Republic, more individuals and families are considering apartments rather than houses for home ownership. Financing an apartment purchase requires careful planning and research to find the best mortgage option. This is where Finaram comes in – with our expertise in a wide range of mortgage products, we simplify every step to get you in your new home faster.

Through Finaram’s platform, you can easily access financing for a standard apartment, a cooperative apartment, or even an investment property. Finaram’s partner specialists connect you to lenders offering loans of up to 90% of the purchase price, with a minimum financing of 200,000 CZK available. Our mortgage specialists can also assist with:

• Settling property relationships
• Transferring membership rights
• Refinancing your current mortgage on better terms

Our specialists are dedicated to guiding clients through documentation, property valuations, and qualifications for an apartment mortgage, while also finding the right loan product at the best interest rates. Whether you are a first-time home buyer or real estate investor, Finaram offers support in finding the perfect apartment mortgage to meet your needs.

Finaram enables access to apartment mortgages that offer numerous benefits for easier and more affordable homeownership.

Secure Apartment Financing

Through Finaram, you can connect with mortgage options that allow financing of up to 90% of your apartment’s purchase price, offering flexible, long-term repayment choices.

Our mortgage specialists handle the entire financing process to save you time and paperwork.

Property Insurance Requirements

All mortgages must be covered by property insurance. We help connect you with our partner insurers to secure the best home insurance rates on your new property.

Non-Purpose Portion Loan Options

If needed, a flexible part of your approved mortgage can be used for other purposes like renovations, furnishings, or debt consolidation. This provides flexibility in your financing.

Little to No Fees

One-time closing costs are determined based on individual preferences and specific bank fees. These costs typically amount to several thousand Czech crowns but may vary. All services provided by Finaram’s specialists, including application processing, are completely free of charge.

Reimbursement of Renovation Costs

Based on receipts for property upgrades, lenders provide refinancing to cover certain renovation costs for your new apartment. This allows you to tailor it to your needs.

Mortgage Insurance

Our partner insurers offer exceptional mortgage insurance that covers your loan repayments in case of unexpected income loss. This protection provides peace of mind with your new property.

Investment Mortgage for Rental Property

With Finaram’s assistance, you can access rental property mortgages, allowing you to build real estate investment assets. Our partners specialize in handling financing that considers the potential of future rental income.

Finaram’s assistance offers straightforward criteria to connect you with our partners’ exceptional apartment mortgages.

As with any mortgage, the applicant’s age is an important factor for qualification. Apartment loans are generally available between ages 18 and 72. Additional eligibility conditions include:

• Czech Republic residency – permanent or temporary residence
• Steady verifiable income
• Sufficient personal funds covering 10-20% of the purchase price
• Suitable collateral property in the Czech Republic(if using a collateral)

The property being purchased does not necessarily have to be an apartment. The mortgages can also leverage a holiday cottage, inherited property, or another real estate asset owned by the applicant. An advantage of working with Finaram is that our advisors take a comprehensive view of assessing eligibility and help construct loan packages tailored to your personal financial situation. The loan-to-value ratio is also optimized to achieve the lowest available interest rates. Apply online to determine if you satisfy the conditions for pre-approval. Our advisors help guide you through gathering the required documentation and identifying optimal mortgage terms.

Finaram’s platform connects you with tailored financing options for every type of apartment purchase or investment in the Czech Republic:

Mortgage for Personal Residence

Purchasing an apartment for your primary home is the most straightforward path to approval. Beyond the general eligibility conditions, simply provide income confirmation, sales contract, and property value assessment. With Finaram’s assistance, you can access mortgages with up to 90% LTV and flexible repayment terms, making homeownership more achievable.

Cooperative Apartment Mortgage

When it comes to cooperative apartment financing, where membership rights are acquired rather than direct real estate ownership, we specialize in connecting you with financing solutions that can use another property you own as collateral. This might be a plot of land, a cottage, or another apartment with sufficient value. Our specialists facilitate the process of obtaining pre-approval for mortgage loans, which can then be converted once your cooperative membership is secured.

New Development/Construction Mortgage

Typically, for development projects, banks are likely to grant mortgage approvals upfront. The disbursement of funds, however, is strategically scheduled. They either release the total amount upon the project’s completion or distribute it in phased increments throughout the construction process. Our partner advisors closely vet developers for reliability as well. Pre-approval funding offers the flexibility to use your mortgage funds upon the completion of construction.

Investment Property Mortgage

Finaram assists real estate investors with rental income potential. Our network leverages up to 75% LTV based on appraised property values and considers expected rental income. Our mortgage specialists guide clients in structuring the optimal financing package for any apartment purchase situation and clarify eligibility criteria, required documents, available LTV ratios, and project timelines. Contact Finaram to start the process today!