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Definitions
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Dictionary > Definitions > Economy > Personal capital contribution
Personal capital contribution
Definition
Acquisition, the construction of a housing or the realization of important work very often require a loan. In the majority of the cases, a personal capital contribution is required. This sum is used to finance a part of your real investment. Attention, th
Description
The amount varies according to the rules suitable for each bank or financial institution. Generally, within the framework of the acquisition of a first main home, the banks prefer that you have at least 10% of personal capital contribution in addition on the price of acquisition of the expenses of notary and guarantee. The interest for you is to have the maximum personal capital contribution in order to limit a too important bank loan. It is, moreover, one element determining of the rate which will be applied for your loan.
Author
Md.khurshed Alam
Author Email
mk_alamcce@yahoo.com
References
Definitions to be consulted