The house itself remains the dream of many, but also the nightmare of a few. And is that if the purchase process is not followed correctly, it could end up stuck for ten years with a loan that did not suit him and under conditions that do nothing but put him in trouble and impoverish his finances.
Acquiring a mortgage loan
To avoid such things, these are the 5 steps in which the process of acquiring a mortgage loan is summarized. Follow them carefully and forget about repentance.
1. Make the numbers:
This is the time when you must establish how much the home you want to buy costs, how much money you have as a down payment and how much you would have to assume the credit. In addition, it is advisable to organize the budget each month to know how much you can pay monthly fee. It is important that you perform these calculations with real numbers and not with approximations, as they could play tricks on you.
2. Choose an intermediate term:
Be realistic. He cannot pay for his home in five years, but he doesn’t have to leave until he is thirty. Choose a medium term that allows you to pay the monthly fee without going through distress, but that is not the minimum possible.
3. Compare and choose the best option:
Do not throw into the pool without a float! Each institution is different and therefore, they have different conditions. Before choosing the credit, compare the alternatives – you can use web comparators – and only when you are sure, apply for it.
4. Have the papers ready within the deadline:
The institution will carry out the respective evaluation to see if the credit is granted. Throughout this process, the housing study is also carried out, and the faster you grant the necessary documents, the less tedious the waiting will be.
5. Separate a percentage for extra payments:
Remember, there are always extra expenses! Either during the application for credit for the documents requested, as once they are granted. It is recommended to separate between 5 and 10% of the value of the home for all these procedures.
Follow the steps, do not despair and have the best possible attitude. Your new home is on its way!