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Financing Solutions

Flexible housing corporation loan

You have access to a flexible housing corporation loan to finance your new YIT Home. If you take advantage of the housing corporation loan, you do not have to commit yourself to a bank loan and you can become the owner of the apartment by paying only the sales price. The remainder of the debt-free price is paid to the housing corporation monthly as a charge for financial costs. Familiarize yourself with the available options and ask for more information at YIT Homes Sales!

Housing Company Loan or Bank Loan?

  • A housing company loan is suitable for those who do not want to commit to a personal bank loan.
  • Housing company loans are granted without separate collateral.*)
  • You’ll save time and effort as the housing company loan has already been through competitive bidding.
  • Usually, you only pay the interest in the initial stage of housing company loan repayment, and you’ll have more money to spend on decoration, for instance.
  • The apartment can be sold more easily if it is subject to a housing company loan. Potential buyers will not be turned away by the fact that they cannot secure a large enough loan from a bank.

*) If more than 50% of the apartment’s original participation in the housing company loan remains as the apartment’s participation in the housing company loan, a sum corresponding to 3–4 months of charges for financial costs will be paid on the housing company’s imprest account. Ask for more information at YIT Homes Sales.

Flexible Housing Company Loan

Usually, for the first 1–2 years after the apartment has been completed, you’ll only pay the interest of the housing company loan. After this, the repayment of the housing company loan is added to the interest, increasing the amount of the charge for financial costs.
You can also pay your proportion of the housing company loan in instalments or altogether right before the construction of your home is completed. If you pay the housing company loan in full, you will not have to pay the charge for financial costs at all. 
You can also repay the housing company loan in instalments or altogether later on. An additional repayment is usually possible 1–2 times a year, depending on the loan terms. If you sell your apartment before the loan period expires, the remainder of the housing company loan and the related charges for financial costs are transferred to the new owner.

There are housing company specific differences in loan terms. Further details can be found in the documents of each housing company, and the buyer is obligated to review these before concluding the sale. Please note that not all housing companies have a housing company loan. Ask for more information at YIT Homes Sales!

SELF-FINANCING BENEFIT

In some housing companies, we offer you a self-financing benefit, which means that you’ll receive a 1% discount on the apartment’s debt-free price if you manage to finance the sale without using a housing company loan. The self-financing benefit applies only to apartments reserved in the pre- marketing phase and to certain housing companies. Our sales team will gladly provide you with more information about the self-financing benefit!

 

 

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