How to get a good mortgage
Get your own property and at the best price is the dream of most people who want to become independent. However, the current economic situation makes it difficult for this fact to occur, leading to an increase in rents. But, did you know that there are a series of keys that can help you get a relatively affordable mortgage ? Many people who want to buy a house or apartment are unaware of the factors that must be taken into account when applying for a mortgage loan. In order to expand your information, in this article we want to show you how to get a good mortgage and show you the most important key points.
In order to get a good mortgage and not worry about everything, the most advisable option is to go to a real estate. With the growth of the Internet, most of them have a website, a fact that facilitates the consultation of the best properties without having to leave home.
Despite going to a real estate, there are a number of factors that you must take into account to get the mortgage that best suits your needs. The first one is the monthly cost of the mortgage loan . To obtain the best mortgage, it is not advisable that said cost exceeds 30% of your monthly income. It is important to know our economic possibilities and adapt to them.
Depending on your monthly income, you must choose between applying for a fixed, variable or mixed mortgage loan. If your salary is considerably high, you may be interested in weighing the conditions of variable mortgages, while if it is not very high, a fixed fee may be better suited to your economic situation. The variables are those that combine both types. Selecting the type of loan that best suits your case is another way to get a good mortgage .
It is always advisable to select a bank that does not charge opening commission in order to choose the best mortgage and save all possible additional expenses. In case of collection, try to negotiate both this commission and cancellation to agree the amounts that interest you most. As for the duration of the payment of the mortgage loan, the most advisable thing is to opt for the shortest term that your economy allows. The fewer years the mortgage lasts, the lower the interest increase will be.
In this sense, it is important that you pay attention to the Annual Equivalent Rate (APR), a figure that indicates the real interest you will have to pay. Also, here are commissions, insurance contracts, expenses, etc. So, to get the best mortgage, compare the figures indicated in the APR and select the lowest.
The amount you request for the mortgage loan is another factor to consider. You should assess both your current economic situation and the one you might have in the not too distant future, such as the arrival of a baby, the possibility of another household member generating more income, etc. The more money you can contribute to the bank, the smaller the loan and, therefore, the better the mortgage.
Contacting a trusted real estate agent can be the key to getting a good mortgage, since they will advise and advise you from a professional point of view, by analyzing your particular case and offering you the properties that best suit your needs.