It is important for every family to have their place to build their home, one of the main ways is through mortgage credit . We all dream of our place, our house or apartment. How to get a mortgage loan? , is the challenge. It is important to do well, because this decision will affect much of our life.
How to get a mortgage loan ?. Dream and Tranquility.
Every project starts with a great dream, and what better dream than having your own home or apartment . In particular I feel very comfortable knowing that I am paying something that will be for me and my family. Buying a real estate means a large outlay of money, that is where our Bank can help us to achieve our dream and obtain peace of mind. To be calm it is advised that the dividend does not exceed 20% of your family income, generally the bank takes 25% of your income as adequate. The second step after obtaining our dream of homeownership, is to invest in a real estate for investment, it is also where an important role also plays to make a good decision in which bank and at what term. For these durable goods, which will accompany you for a lifetime, I advise that the term be as long as possible, so your financial burden is the minimum that can be achieved.
How to get a mortgage loan ?. What to pay attention to
Before making the final decision with which financial institution one is going to stay, it is important to take into account and pay attention to the following details:
- Rate type: The interest rate can be mixed, fixed or variable. When comparing monthly dividends of two or more mortgages, one must set the rates to be fixed, because in that way they are comparable.
- CAE: The CAE is the key figure, this is the equivalent annual charge of each financing, it represents the value of the credit in the period of one year, this figure takes into account the expenses included in the credit such as: Appraisal, title study, writing, notarial expenses, taxes, registration fees in the Real Estate Conservator and others. The lower the percentage of CAE, the better it will be for your pocket.
- Monthly dividend: If we are comparing different credit simulations, something important is to see the dividend that we will pay monthly. Of course, you have to set the same rate.
How to get a mortgage loan? Documentation.
Each Bank will have its own documentation , but in general the following documentation is requested:
- Identity card.
- Marriage book, divorce or separation decree and cohabitation certificate, depending on marital status.
- Birth certificate of children in common if any.
- Last 3 salary settlements.
- Employment certificate or work contract.
- Last tax return.
In the case that one is buying a used property in addition, one must generally carry it, to make the credit effective:
- Photocopy of the identity card of the Seller.
- Marriage Book of the Seller.
- Copy of Registration of Conservative Real Estate Domain.
- Certificate of mortgages, liens and publications of 30 years from the curator of Real Estate.
- Tax Appraisal Certificate
Among others, you should find out specific documentation for the institution that will give you the credit.
How to get a mortgage loan ?. Compare, credit simulation.
Before choosing your final bank, which does not have to be your current bank, I advise you to compare in at least 5 banks in the Plaza, you can also explore mutual explorations of dividend differences, based mainly on the associated insurance.
There is a very useful page that I recommend that is from the SBIF, it is called a bank customer, there you can have access to simulate in different banks and it can give you an approximation of the future dividend that you can face.
In conclusion, when making a decision that will be present much of your life, you have the obligation to do so very carefully and compare the different offers that the banking market has. Go for your dreams, but be careful.