The launch of new mortgage credits by some banks, it aroused great interest in the market, due to the reappearance of this instrument that allows access to a home with 30-year financing. There is great expectations in the real estate sector both in home acquisition and construction.
Requirements for mortgage loans
These include the owner’s disposition to sell under the conditions of the credit, the absence of legal impediments on the property, such as observed titles, unfinished succession processes or previous mortgages, and the presentation of the required documentation, which includes the last title of ownership, the co-ownership regulations for apartments o PH and the measurement plane.
The characteristics of the property do not limit eligibility for credit, opening a wide range of possibilities for applicants. They include used homes, brand new and in the well stage (under construction).
The last bank to join was Supervielle, which for now did not give details of what the loans will be like but announced that they will be available from next May 4.
How much do you have to earn to access a mortgage loan?
In one of the banks that will offer the loans, for every $100,000,000 over 40 years, you must have a monthly income of $3,128,000 and a fee of $782,000 will be paid for non-customers, while with the same income, those who are already Clients will pay a fee of $505,000 with a preferential rate of 4.25% the first year.
In the case of a couple, the income of both can be added and request the loan together and, therefore, request more money. Thus, at least four average salaries will be needed, income from $3.2 million.
In the event that it is necessary to request the maximum amount offered by the entity, which is $250 million, The monthly fees at the beginning for non-clients would be $1,955,000, Meanwhile he Requested monthly income must be greater than $7,820,000.
For those who want to request a loan from Banco Ciudad. $100,000,000, with a rate of 5.5% and payable over 20 years, you need to have income of $2,760,000 per month and, also have savings that cover the remaining 25% of the value of the property, since this financing covers 75% of the total. In this case the fee to pay per month will be $690,000. On the other hand, if the maximum amount granted by the entity is requested, which is $250 million, the value of the fee will be $1,724,000 and a minimum income of $6,896,000 will be needed.
Source: Ambito
