At the moment of beginning to see the possibility of obtaining a mortgage loan, we consider that to request it successfully it is necessary to have enough planning, as well as to avoid setbacks in the payment of the obligations until the term of the credit.
Therefore, unlike other types of loans with smaller amounts, this should be taken with greater planning, because the worst part is not that the credit is not approved but that it is done in conditions that do not suit the person and this is Become a big problem in the future.
For this we must establish an action plan that ensures the success of this decision, considering all the points to consider; As indicated above, this process could be defined in four parts:
First of all, we must have an adequate planning of our budget that allows us to know how much is the amount we have for the payment of the fee , thus avoiding delays and additional costs. In order to get an idea of how much the monthly fee would be, you can use the mortgage loan comparator that is on our website. After knowing the budgeted amount, we must take into account that we must have as initial with the minimum 30% of the price of the property.
If after planning and making calculations, your financial situation does not allow you to acquire the home you need, you can also think of a more realistic option or consider saving a larger initial fee that allows you to reduce the monthly fee to the point that you can assume it.
In order to apply for the loan, it is important to consider some points: to be well at risk centers for at least the last 18 months, not to have more than 3 credit cards and to avoid that the total line of all of them does not exceed more than 3 times the salary. Remember also that loan installments must not exceed 40% of net income (consider the probable mortgage loan installment). Take into account that these rules also apply to the spouse, since marriage is considered as one.
Another point to consider is to be able to demonstrate that there is sufficient income flow to constantly cover the payment of the fee (income certification).
As we already have a probable price according to the first point, you can go looking for a property that meets the price and needs.
If the property has already been found, it is necessary to verify all the corresponding documents to have the security that is completely sanitized of any cargo.
Additionally we can consider the expenses that are incurred to make the purchase of the property, these can be those of notary among others that are not included in the financing.
After having carried out the entire operation, there are expenses to be carried out that can still generate problems and that we must consider them when making budgets , these correspond to everything necessary to live in the new home, such as moving expenses, necessary improvements to the facilities, among other things. These expenses can represent a lot of money and if it has not been budgeted, it will negatively affect the cash flow.
These points are some that we must consider to be able to access a mortgage loan in a responsible manner and thus avoid that hidden expenses can generate a future cash flow problem. Let us take into account that each additional sun in the expenses, will be reflected in a greater quota, those small expenses will increase for the interest and the time of the operation.