The main difference between a regular mortgage loan offered by banks and a First House type credit that reached its fourth edition is that the latter is guaranteed by the state in a proportion of 50% which means that if the beneficiary of such a loan can no longer pay its rates to the bank and is forced out, the state, through the SME Guarantee Fund, will pay the bank that granted the loan credit repayment represents the equivalent of 50% of the loan. Subsequently, the state will recover the damage from the customer of the bank. For the รถ ไฟแนนซ์ also you can have the solutions now.
Initially, at the start of the First Home program, the state fully guaranteed the credit, thus stimulating banks to make loans easier, being safe to recover their money. Instead, the state imposed on credit institutions the use of considerably lower costs than a regular loan so that the interest rates were capped at a fixed margin of 4%, plus the fluctuating interest rate to 3 months in the case of loans in euro and 2.5% plus at 3 months for those in dollars. Consequently, most banks practice slightly lower interest rates, but very close to these ceilings.
- It is important to note here that another condition imposed on banks was not to charge other types of commissions, such as those for granting or administering credit, or for repaying in advance the amount borrowed. Thus, the only existing commission is that of guarantee