Buying a home and Building the Dream home is one of the common dream for many of us. To achieve our dream house goals, we must prepare few things which the path for house building is.
These are the few tips which will helps for obtain mortgage loan in an easier way. Have steady and stable incomes Having a steady job is a determining factor in obtaining a home loan. Justifying regular monthly income secures the bank on your repayment ability. For young workers at the beginning of their careers, we must insist on future professional opportunities and future developments that involve salary increases. This rule varies from bank to bank, but in general, one-third of the monthly net income should not be more than a loan repayment. If you already have outstanding credits when applying for a home loan and the total repayments exceed that third of the income, the bank will likely reject your application.so first we have to check the loan against property form, If the borrower can repay them upstream, it's better! Sometimes the location or general condition of the property may also play a role in the bank's decision. To secure a purchase, it is necessary to have your borrowing capacity assessed by a bank or broker before signing a sales agreement. Play the competition by choosing a Money lender Each profile is very different, especially for the insurance-borrower, so it is necessary to compete to get the best conditions and get his loan. Go through a broker in real estate credit greatly facilitates this auction. The broker guides the borrower in his research, accompanies him in the assembly of an irreproachable file, advises him on the optimization of his financing plan and negotiates for him the best conditions of financing: credit rate, delegation of insurance, choice of the guarantee, exemption of the expenses of bank record. During the months preceding your loan, prove to your banker that you can assume the monthly payment that you will have to pay. If you are a tenant, either your monthly payment is equal to or less than your rent and you prove your regular rent payment. Either your rent is lower than the payment of the expected monthly payment and you must show that you are able to save each month the difference "monthly - rent". For the owners, replace in this reasoning the rent by your current mortgage payment. Minimize your other credits: The fewer credits you have, the less risk you have. The bank will therefore accept a larger monthly payment since your debt ratio will be lower. This will also give you, by reducing the risk, an advantage over the calculation of the credit rate. Limit your debt ratio: It is customary for banks not to lend more than 33% of your income. That the monthly payment of your loan must not exceed one third of your monthly income. If your debt ratio is lower and / or you keep a large "remainder to live", the bank will have an additional guarantee on your ability to cope in case of hard knocks. Anyway, it is always your capacity to manage your accounts, to save and to refund which will favor the obtaining of a mortgage.
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Authorhello everyone,am the author and blogger from India. in this blog you will get information about finance and home loans Archives
October 2019
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