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.