Although housing credit is one of the most used alternative, very few understand what it really is. The first thing to know is that is a loan in the medium to long term in a house or apartment that is purchased. This property is acquired mortgaged, which means an endorsement for the debt to the bank becomes.
A home loan can also be used for extension, repair or construction of our house, apartment or sites freely available.
There are 3 basic types of housing credit, to know your choices should go to the lending institution that interests you.
- Mortgage with Letters of Credit: Obtained by a Mortgage Letter issued by the bank.
- Endorsable Mutual Mortgage: This loan is made in pesos or UF and is based on the writing of the contract. Is agreed in the market through an endorsement, making it possible to deliver the contract holder pay to third parties for funding.
- No Endorsable Mutual Mortgage: This housing loan is funded by the Bank 's own resources, and can not be transferred by endorsement.
General requirements for access to a home loan:
- Be an adult.
- Demonstrate financial capacity to assume the payment of the claim.
- Submit proof of income.
- Demonstrate financial and job stability.
- Complete the application form and submit the credit individual requirements of the bank.
Remember that to get the credit you want, you must comply with all requirements of the bank.
Some tips before applying for a loan for Housing:
- Evaluate all offers of houses or apartments that meet your requirements, satisfying your needs and are in line with your ability to pay.
- Visit at least three financial institutions and select the one that fits your needs and possibilities.
- Check and prove your financial situation, this will let you take care of the debt after applying for a home loan.
If after searching for long you several questions arise and do not know what to do, remember to seek the advice of experts to help you identify the best options for your profile. One of the best alternatives on the market is http://www.creditoparaloquequieras.com who help you throughout the process.
The main advantage of credits simulator is that it gives an overview of the obligations acquire, even before the loan application. In this way we can analyze whether or not they wished us, given our ability to pay our personal economy.