How to find and compare mortgages today we're covering a topic perhaps a bit boring to some but it's been highly requested and if you're serious about investing in Italy could be step one. In unlocking multiple investment opportunities yet we're talking about financing okay some of you might be thinking I'd, love to buy a property in Italy but I'm not technically rich how do I go about paying for it you're. Probably thinking that because of the luxurious villas that you've often seen on TV and in films let's face it there's, a certain level of luxury that we should just leave to the celebrities still there are, truly magnificent villas strewn throughout Italy within a more reasonable price range especially right now if you want.
To get your hands on one you're most likely going to need to use OPM no not opium you should leave that to the celebrities too okay jokes. Aside what does OPM stand for I imagine most of you are familiar with it but for those who aren't OPM is an acronym for other people's money. It's a pretty general term it covers a broad range of. Funding sources today we're going to talk about one type of OPM, a mortgage or luto in Italian let's look at what Italy has to offer even though I'm a big proponent of buying Italian property auctions with cash I know the power of mortgages when it. Comes to leveraging I'm currently in the process of doing some leveraging myself I've done a bit of research and I. Wanted to share this video to unlock a few doors on your path to invest in Italy I'll also point out a, few reasons why now is a great time to do just that it's probably going to take a few different videos, to cover everything but that's really. Good since it's often easier to learn in bite sized helpings all right I'm going to assume you know some basics about financing options, for houses in your own country I'll be using mortgage examples from the US and future videos since it's the market I know best it can. Make more accurate comparisons step 1 when searching for a mortgage is to become familiar with the products available to get us started, I'm going.
To refer to an online mortgage comparison website that I use when I'm planning a project and is the main topic of this video using. Mutual online dot it you can get a basic idea of product types being offered there are other similar sites but for today this will be of us plenty to, discuss it's in Italian but don't forget you can always translate the page for better comprehension first look look at.
The product types listed on this page listed our purchase first home purchase second home purchased in a judicial auction purchase first home concept subrogation. Subrogation plus liquidity and a mortgage for renovations I, should point out that last year liquidity only option was listed as well but is no longer visible there are still banks that offer it as, well as other types of loans which just means it's important not to rely entirely on, this website alone speaking of the bank directly is ideal let me take a moment to clear the fog the first home second home judicial auction and, concept first home are each options for initial purchase, of real estate these are pretty straightforward aside from concept just to be sure we're all on the same page I'll briefly describe them the first home mortgage is, intended for properties which will be eligible for the pre mikasa tax benefit for more information on what pre. Mikasa means follow the link in the corner or check the link in the description a second home mortgage covers most other cases. Except for. The purchased on auction and those fitting under the guidelines of concept which is designed to help younger buyers get into their first home with the reduced requirement, regarding the initial deposit subrogation loans are designed to allow you to change banks.