The Mortgage Credits are available to people between 18 to 65 years old who qualify among the requirements of the bank. It is worth knowing the 8 main facts about home loans.
The Mortgage Credits are granted by a bank with a term that goes from 20 to 30 years mainly. The Mortgage Credit Rates depend on several factors: how much is requested, the value of the property and the monthly profit of the applicant. They can be fixed, variable or mixed.
It is necessary to request a shift to be attended by a bank account executive, through the website or in person, the second being more recommended. The waiting time will depend on the demand that the institution has at that time.
Credit with own land: For those who have the deed of a lot, the allocation of the loan will be easier, provided that the requirements are met. It is possible to build from the base or to renovate or enlarge an existing one.
Loan without land
In this case, the Mortgage Loan Rates may vary, but, above all, the totality of what is requested will not be accessed and will depend on the location of the project, how much money is saved, if there were already verbal agreements for the acquisition of the lot or have none in sight, etc.
Location of the land
If it is in a rural or urban area, and how far from the branch where the credit is requested, or if there is a policy or regulation to grant better conditions in a certain place, these are questions to consult.
Requirements for those who do not yet have the land
Minimum one year employment (dependency relationship) or two years on their own account. Spouse’s income can be added. The net salary is taken into account.
The person or people requesting a credit cannot have a negative history within the financial system, that is, in ongoing debt.
Buy a house already built
It will depend on the regulations of the bank and, above all, if the client meets the requirements of the entity. The property and the cost reported by the real estate agent or owner will be legally analyzed.
Now that you know these details you can compare the offers and request the Mortgage Credit that suits you best. Simulate your Mortgage Credit in Compare and fulfill your dream of your own home.