How to get a mortgage without endorsement

For many people it is not easy to get an endorsement that is willing to sign our mortgage to guarantee payment. When we want to ask the bank to grant us a mortgage without a guarantee, we must take into account that we will have to comply with stricter requirements than when we offer mortgage guarantees. This happens because the guarantee figure responds to the non-payment of the debt, by not presenting an endorsement the bank assumes a greater risk and therefore will demand more requirements. Below we will indicate the requirements that must be met to obtain a mortgage without endorsement and the process to request it.

You will need to:
  • A mortgage comparator
  • Original DNI and photocopy.
  • Photocopy of the 2 or 3 last declarations of the Income.
  • Photocopy of the last 3 payrolls and work life certificate.
  • Photocopy of the purchase sale contract.
Steps to follow:

one

You need to have saved a minimum of 30% of the amount of the sale purchase . For example, if the apartment is worth 100, 000 euros you have to contribute at least 30, 000 euros.

two

Your employment situation and that of the other or other holders must be stable, that is, you must have an indefinite contract and have a seniority in the company.

3

The mortgage payment that you will pay monthly can not exceed 30% of the net monthly income . For example, if you charge 1, 000 euros the mortgage fee can not be more than 300 euros. To know the approximate value of your fee you can enter the mortgage simulator.

4

If you meet the aforementioned requirements, you can enter a mortgage comparator.

5

Once you are in the comparator, you have to fill in the information that asks you to search for the best mortgages according to your needs.

6

When you see the mortgages that are adapted to your financing needs you must choose the ones you are interested in hiring.

7

Finally, you must apply for mortgages, you can do so through the bank's website, by phone or at a branch.

Tips
  • When applying for a mortgage it is very important that you make sure that you do not appear in any delinquency list, since the entities will not grant you the mortgage.