July 28, 2019 admin 0Comment

In a previous article we quickly saw what a mortgage loan is, this time we want to explain step by step, how to apply for a mortgage loan . These steps will be very similar between the different types of financial institutions that provide this type of loan. Read http://bestgoodonline.com for a critique

How to apply for a mortgage loan?

How to apply for a mortgage loan?

If you are interested in applying for a mortgage loan, you have two options :

A. Traditional way, directly with the financial institution

Step 1: Enter your request

In this way, you usually start by approaching the bank to apply for the mortgage loan. If you already have in mind a property that you want to buy and you know the value of this, it is time to approach the bank.

Step 2: Submit documents requested by the financial institution – Pre approval

After step 1, the financial institution will tell you what documents you need to present. These documents are essential to evaluate you, among your requests will be your payment slips or any other income support.

The financial institution will evaluate your documents, and if you meet the requirements, they will notify you that your credit has been pre-approved.

After this step, you will have an idea of ​​the rate charged by the financial entity. Here you have the option to redo steps 1 and 2 with different financial institutions, so you can compare the conditions of the mortgage loans they can provide you.

Legal and real estate management

Legal and real estate management

The financial institution will help you in this step and basically the following will be done:

Study of titles: Registration of the property will be requested from the seller to verify that it is correctly registered in Sunarp. In addition, it will be verified that the property you want to acquire does not have any seizure, mortgage or demand.

Property valuation : Here a specialist determines the approximate value of the home you want to buy, with this information the financial entity defines how much is the maximum they can lend you.

Evaluate property insurance: This insurance allows you to protect the property from possible damage while your mortgage loan is in force.

Evaluate the relief insurance : It is calculated how much the cost of the insurance will be. This insurance covers the total payment of the debt in case of natural death or accident and total or permanent disability by the one who requested the loan.

Step 4: Signing of the mortgage contract

In this step you must present the purchase and sale of the property. After that, the financial institution will sign the mortgage contract. Before continuing with step 5, both the buyer and the seller of the property must make certain tax payments, you can see here the expenses of a mortgage loan.

Step 5: Public deed signature

As a final step, the financial institution issues a management check with the amount approved for your loan. In addition, the notary will prepare the public deed and will be signed by both the seller, the financial institution and the buyer.

Through a financial advisor, saving time and money.

Through a financial advisor, saving time and money.

You can enter here, complete the data of what you need and automatically see the mortgage credit options you have. All digitally, without leaving home.

You will not waste time in rows in banks. Ananse is a financial advisor, and we will give you the information you need to make the best business. It’s about lowering your accounts and doing good business.

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