Although the dream of acquiring one’s own home is a short-term goal for many, 61% of Peruvians have no plans to realize it. Do not be discouraged! Here 3 important aspects that you should consider before applying for your mortgage loan and not die trying.
#1. The person who requests the credit
It is important to see how much we are earning and what is the projection of our salary growth. Let us take into account that there is a basic budget that must be covered and that the excess can be used for other expenses.
Therefore, it is necessary that the family income can support a fee that, when added to other debts, does not exceed 40% of the total income. If we have difficulty with the flow that personal loans or credit cards can generate, a good alternative might be a purchase of debt that helps us improve conditions and we end up paying less.
Another important point is how we are at the risk centers. It depends a lot if we manage to move to the risk area or not, because we must apply for at least two years of credit experience in normal state having paid everything on time.
In the market there are people who have several credit cards and a sum of credit lines much higher than recommended, so that a person should not exceed the limit of the 3 cards and the credit line of these can not exceed 4 times the salary.
Let us take into account that one of the points to evaluate is not only how much is owed but the possibility of greater indebtedness if used.
When referring to the person, I emphasize that it must be fulfilled for both if they are a marriage.
#2. The credit you want to request.
Choosing wrong is what could lead to the request being rejected. Initially one should consider the following:
Apply for a mortgage loan or Mivivienda credit.
If we are within the requirements requested by the program we should choose Mivivienda to take advantage of the bonus that the State makes us, but we will go to a regular mortgage loan.
Present as dependent or independent.
Many entities punish independents for the risk factor, for this reason it is good to look for those institutions that provide facilities for this type of people.
Take into account that many independents have high flows of money but cannot prove it, for this reason there is an alternative of specialized entities that can offer better conditions to the independents.
If you do not have the initial, request a “mortgage savings” type of credit.
They cannot prove their income or seek the possibility of increasing the initial fee. This alternative gives you the possibility of depositing an amount similar to the monthly payment in order to demonstrate the ability to assume this responsibility without causing an imbalance in the budget.
There are many alternatives for different people, but we must see which of them suits us.
Within the operations we could also include the entities that provide these operations as traditional banks, savings banks and specialized entities. Each one has specific policies where we can find better rates, greater facilities or personalized treatment.
#3. Housing : It is important to choose a property with a price according to our possibilities.
The property must be completely sanitized and with the papers in order. Care must be taken because the operation can be approved and when studying the documents of the property, it falls due to lack of correction or some problem of the property.
One tip: Before acquiring a mortgage loan, apply to more than one financial institution to diversify your chances of success. Also, choose a good sales executive not to fail in our own home illusion.