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Nemea Mortgage Guide

Step-by-step guide to buying your new home

This guide is designed to help you make well-informed choices when purchasing your new property.

Important factors to consider when buying a home

Identify your needs

Look beyond the price, factors like location, orientation, and overall environment are equally important.

Assess your financial situation

Review your income, monthly expenses, and available down payment to determine a realistic budget for your purchase.

Research the property market

Explore the options available. Visit multiple properties to understand what the market offers and compare possibilities.

Evaluate each property carefully

Consider the location, condition of the property, maintenance costs, and potential resale value before making a decision.

What costs should you consider when buying a home?

  • Transaction costs
    These include fees related to the property purchase, such as stamp duty, real estate agent commissions, and notary charges.
  • Ongoing housing expenses
    Consider maintenance, condominium fees, property taxes, and any potential renovation costs.
  • Mortgage payments
    Whether you choose a fixed or variable rate, monthly mortgage installments should be included in your budget.
  • Insurance
    Protect your investment with a policy that offers coverage against damage or unforeseen events, giving you peace of mind.

Have you already made your decision?

Here’s a 6-step guide to getting a Nemea mortgage:

01
Fill out the application
Complete the request form with your details, and we will contact you within 24 hours.
02
Consultation with Nemea
We’ll review your application, explain the benefits of your chosen mortgage, and provide the list of required documents. You’ll also receive a link to IDOS, our online portal for managing your mortgage.
03
Submit your documents
Log in to IDOS to upload and electronically sign all documents necessary for your mortgage application.
04
Income verification
The bank will assess your creditworthiness and issue an income approval once your documentation is complete.
05
Legal review and appraisal
An appraiser will contact you within two days to schedule a property evaluation, and the notary you choose will prepare a legal analysis of the property.
06
Final approval and closing
After final bank approval, we’ll arrange the closing date and the payment details to the seller. We’ll also send you the documents to sign and confirm that home insurance has been secured.

The mortgage from A to Z

Acceptance

An agreement where a third party agrees to take on the responsibility of repaying a debt on behalf of the original borrower. A mortgage assumption occurs when this third party takes over the loan repayment to the creditor.

The process of gradually repaying a loan through scheduled installments, each containing a portion of the principal and a portion of interest.

A document that certifies a building’s energy efficiency and, where applicable, specifies its key energy characteristics.

The main interest rate set by the European Central Bank, applied to short-term financing operations for commercial banks in the euro area.

The sum of all expenses related to a credit agreement that the consumer is responsible for, including interest, fees, commissions, and taxes, but excluding notary costs.

Short for Euro Interbank Offered Rate, it is the reference interest rate for interbank loans in Europe. For mortgages, Euribor is used to determine the variable interest rate applied to the outstanding loan balance.