In the past, some decades ago, to get financing for a house it was an obligatory step of adult life, which practically chose us and not the other way around. Jobs, salaries and fixed programs projected in the long term, which also fell on a single member of the family, invariably translated into few options, almost all homogeneous, complex and limited. Today that scenario is different.
Currently have access to a house It can depend on various factors, all of them connected with what we are and what we want. Today, the idea of family has expanded and diversified, where each one maintains a particular dynamic and its financial situation, as well as its objectives and housing plans can be completely different from each other. And this is reflected in each and every one of the stages that lead us to find what will be the home where our children grow up and our family develops.
In addition to being backed by a solid, secure company with proven experience, a Mortgage credit has to be designed and adapted in our favor, with a payment scheme that fits our lifestyle and is solvent for the type of house we want and can afford.
If you have already made the decision to acquire a property and you are in the process of choose a mortgage loan, there are two key concepts that will bring you closer to the best option: clarity and planning. The more information available you have and you can land it in an understandable way (requirements, steps, options), the choice and planning in relation to a mortgage credit it will be much easier. Before hiring it, take into account the following.
1. Know the types of credits that exist
Something that is important to know is that there is no single way to pay for a house and that it does not have to jeopardize your economy. Before getting a large sum of money with very high rates or commissions that you do not know very well why you are being charged, dedicate enough time to know each and every one of the credit options that abound in the market, as well as their conditions and characteristics. You’ll be surprised.
An example. Rocket Mortgage®, one of the mortgage companies more complete in the United States, offers a wide range of solutions for each objective, situation and needs that are adjusted and personalized to each profile, depending on the type of house desired, as well as the ability to pay and the type of credit more convenient.
2. Locate the most convenient
Once you have identified in detail all the types of mortgages Choose the ones that are more suited to the amount you require and that in their payment scheme do not represent more than 30% of your gross monthly earnings.
Among the good practices prior to its use is to consult doubts and details with a reliable real estate agent and expert, the option of joining financial efforts with your partner, and above all saving as much as possible to make the down payment reduce the monthly amounts.
3. Evaluate different possible scenarios
Ask yourself things like “What would happen if I stop paying at the beginning, in the middle or before the end of the stipulated term?”, “What if I change my job?”, “Can I advance payments?”, Among other possible cases for that you Real estate advisor can provide you with options, plans and alternatives in case of non-payment, eventualities or unforeseen scenarios. The good choice is above all planning and prevention.
4. Define terms, rates and conditions
Clearly land the requested amount, the associated payments outside of it, as well as the amounts to be paid for procedures, commissions or penalties. Likewise, it verifies in detail the terms and conditions stipulated. This clarity of information is final and will make everything clearer.
5. Schedule payments
Draw up a payment calendar that you can keep in mind on several sides (phone alarms, your virtual or printed calendar), so that no date is left out. This way you will know when you have to pay in advance, avoiding late or forgetting charges, and it will give you certainty about your progress and the payment stage you are in, which will trigger a more efficient administration.