What are the mortgage application requirements?

What are the mortgage application requirements?

How to apply for housing loan?

The credit requirement for housing purchase is provided to individuals in certain situations. Document and credit status are included in the required fields. Persons should make a claim according to the family budget by evaluating the necessary conditions for the loan they apply for housing purchase. The housing loan provided to the people can be given to the people according to the specific home situation. The housing loan offered to the people can be given in the condominium.

The condominium is a type of house that is under construction or no construction phase. Persons are required to have a title deed in such a situation. In addition, mortgage housing loans to be given to individuals are not fully offered for housing purchase. The credit status of individuals is also an important condition for the purchase of housing loans.

 The Importance of Credit Rating in Housing Loan

There are certain variations in the credit needs. Credit efficiency institutions and banks can meet their needs by paying attention to certain situations. The documents and features that are deemed necessary are created in order to prevent the risk of the persons and institutions providing the loans.

First of all, credit notes must be placed on a certain point in order to gain credit. Keri debts are not paid in a timely manner, such as the impact of the person’s notes can have negative consequences. As housing loans are offered to people through high sums, they pay attention to people’s needs by paying attention to their credit rating.

 What are the required documents in the housing loan?

In certain situations, the credit status of the individuals is examined by the institutions that provide credit. Home loans and other types of loans are not available to those who do not have a working certificate today. The documents to be submitted by the individuals within the housing loan may also vary according to their fields and sectors.

Private sector employees, employees in the public sector, retirees and owners can apply for housing loans with different documents. Documents required to be provided by private sector employees in the need for housing loans; payroll, residence, deed certificate, SGK certificate and workplace signature circular. Public employees; in the same way they have to keep the payroll, residence, title deed and other necessary additional documents. For business owners, these documents are produced in different varieties.

The person’s tax plate, room registration, balance sheet table, income statement and signature circular are among the documents to be submitted by the owners to the relevant institution for the housing loan. In addition, the trade registry gazette and the photocopy of the title deed are the documents to be kept by the owners.




 Approval of the Housing Loan

The housing loan is evaluated by considering many different situations. In the approval process, certain characteristics are taken into consideration in the applicants who apply the housing loan calculation. There are 18 years of filling status within the specified specifications. Individuals can use the loan application legally when they are older than 18 years.

In addition, the income documents, documents to prove the salary status of the person helps the positive result of the application. In addition, the place of residence and the identity card are among the important information and documents required for the housing loan requirement.

How to get the most appropriate housing loan?

How to get the most appropriate housing loan?

Today, due to economic conditions, home loans are used in home purchases. They are going home to people, banks and financial institutions who do not have enough financial power to home.

 How to get a housing loan?

Since banks and financial institutions are commercial enterprises, they do not respond to each loan application positively. Any individual who proves to have regular income can apply for home loans. Before applying for the loan, the house to be purchased must be found and understood by the owner. Then, the loan rates of banks and financial institutions are examined.

A loan request is made from the bank that provides the loan at the most appropriate rate. Necessary documents are prepared and demand is created. When the loan application is approved, the loan amount is paid.

 Which documents are requested in the housing loan?

* For natural persons, payroll, legal signage, income statement, room registration certificate is required. Officials do not ask for payroll if they apply for a loan from the bank where their salaries lie.

* From farmers; farming certificate, photocopies of the deed, producer receipts are requested.

* Pensioners are not required to receive a certificate of income when they want to withdraw loans from the banks where they receive their salaries. When they want to buy from another bank, they must issue a pension from the e-government.

* The photocopy of the identity of the person who will use the credit, the title of the house to be taken or the floor of the easement deed is requested.

* No guarantor is required. The mortgage is placed in the house during the deed.

 How is a Housing Loan Calculated?

Banks and financial institutions first look at the findex score of people demanding credit. In short, findeks is a person’s risk report. When the ID number is entered, all past financial transactions are seen. The low or high score of a person affects the loan application. No credit is given to those with low scores. For those who have a high score, the applicants are also approved for a short time.

Consumers often apply for a loan with an equal installment payment system. The amount of the loan (how many lira), interest rate (%) and maturity (12 – 24 – 36 months or 10 years) are the calculation tools. Depending on the legal practice, only 75% of the houses to be purchased are lending. The fair value of the house is determined by the experts appointed by the companies that the banks work.

Usually the experts will buy the house and determine the price. The high value of the house gives the buyer less credit. Bank representative; The current price of the house determines the maturity according to the interest and the number of installments planned to be paid. Then he makes a payment plan. The longer the maturity, the higher the interest rates. Monthly payments decrease, but in total there is a higher figure.




 Mortgage Method Home Owner

Homeowners with a mortgage system in Turkey only recently started to be used more easily. Unlike a housing loan, the bank buys a bank and sells it to the buyer in installments. The number of installments is more. Installments can be set with flexible or fixed payment.

In case of disruption in installment payments and inability to pay, the bank will refund the payments until that day and sell the house by auction. After the installment payments are completed, the bank transfers the title of the house to the buyer.

Information on the Credit Rating and Credit Report

Information on the Credit Rating and Credit Report

The biggest obstacle in front of those who want to take advantage of banks’ credit facilities is known as credit rating. Credit ratings are an important criterion that shows confidence in the financial status of consumers and their collateral in previous bank relationships in general. The banks are looking at the credit ratings and have decided to approve or reject credit. Therefore, the importance of credit rating is very important for consumers. The credit rating is evaluated within a pool of all banks and submitted to the information of banks.

When the banks want to learn the credit rating of the consumers, they can withdraw the information from this pool and get detailed information about whether the consumers have a contract with another bank and whether they have complied with this contract. For this reason, it is important for consumers to comply with the guarantees and promises made in the credit and loan agreements with the banks, to pay their due dates on time and to use them in the future. The only thing the banks want from their consumers is that the payments are made regularly on the last payment date. She also participates in credit notes and credit reports for student loans, which are referred to as student loans offered to students by ministers. Consumer loans and personal loans on consumer credit ratings and credit reports are also widely followed by banks.

 What is a Credit Report?

The credit report is described as the details of general information such as credit notes. Credit reports are generally preferred by banks because they provide more general information. Credit reports showing the risk report of consumers are an important criterion for whether or not the requested credit amount should be given. The credit report has a direct relationship with the credit rating. The credit report includes detailed information about the consumer’s payment habits, debts, the payments in which he / she made payments, debt interest rates, the loan amounts they have used up to date, and at what intervals they request credit. The fact that these criteria are included in the credit reports is reflected in the credit rating of the consumers. Since credit reports include quick loans called quicken loans, the past performance is also evaluated in terms of instant credit.

 Criteria for Credit Ratings

The main criterion that determines credit ratings is whether consumers make regular payments or not. If regular payments are not made, credit ratings will decrease on a monthly basis. In the case of a lower level, the credit rating has reached the risk level and the credit and credit card demands of the consumers result in a rejection by banks. At the same time, the credit rating of consumers who do not think they have to pay for a long time does not increase their credit ratings. At the same time, in the event that debts arose and accumulate even more with interest despite the passage of certain legal periods, the credit ratings of consumers with enforcement proceedings will not increase. In order to increase credit ratings, consumers are advised to pay bill payments to banks. The biggest challenge for home equity loans, which is the most popular credit of consumers, is credit notes.




 Conditions for the Credit Report

Consumers need to have a certain financial background to generate credit reports. For this, if the consumer does not have any financial transactions in the last 5 years, credit reports do not occur. For this reason, while banks are reviewing their credit reports, consumers also look at their financial performance for the last five years. These 5-year financial movements have a positive or negative impact on consumers’ credit ratings.