A residual debt loan is a form of borrowing to pay back a financial deficit that arose after the sale of your home. This can occur when you have sold your home for a lower amount than the mortgage. This leaves you with an outstanding mortgage debt.
You borrow an amount of up to $ 75,000. You will receive the amount you want to borrow in one go. The advantage is that you know exactly how much you borrow and how much you have to repay. You also know in advance exactly how long the term of the loan will be. You pay a fixed amount every month. This amount consists partly of repayment and partly of interest. The repayment is fixed. The interest rate does not change during the period that you borrow the money.
You may repay more free of charge. If you repay the agreed amount each month, you will have repaid the loan in full at the end of the term. You can also repay more or repay the entire loan. The interest may be tax deductible. You do not need a valuation report to take out this loan. You also do not have to go to the notary. The interest is tax deductible for 10 to 15 years.
We can advise you in finding a suitable, suitable and responsible loan. You can easily calculate your residual debt loan by clicking on the button below. You can also request personal advice by calling us on telephone number: 336-429-9959