If you want to fulfill the dream of your own home, you must meet certain requirements to apply for a mortgage. Some of them are: having a minimum of seniority and a minimum income. Each of these requirements may vary depending on the bank, so we will tell you some of the requirements to present that you must consider.
A mortgage loan is a money loan, which can last for many years, which is why some banks are more demanding than others in terms of requirements. That is why it is key to check in each bank if it has specific conditions, such as the requirements to request the mortgage loan from Capital Lender Bank, which we will detail later. To start the application process, you must comply with a minimum of things that financial institutions will require.
Requirements to apply for a mortgage
The requests are as follows:
It is necessary that you have more than 18 years of life, in some banks they require 21 years.
You must be Chilean or a foreigner with permanent residence in the country.
You must have a good business history, not present debts or current protests. And of course, not being in Dicom.
They will ask for at least one year of work seniority or start of activities if you are independent. If your salary is variable, they will purge your monthly earnings by 20% or 30% in order to obtain an insured amount per month. As banks are so rigorous with variable salaries, those who work in a dependency relationship and have fixed earnings benefit.
The dividend to pay cannot exceed 25% of your liquid income. Therefore, if you earn 1 million pesos, you must have 250 thousand pesos to pay the fees.
You have to have money to pay the foot. Most banks do not provide 100% of the mortgage credit, therefore you have to have money saved. They can give you up to 80% of what the house costs, and in some cases up to 90%, if you have a high salary.
Certain banks will ask for accreditation of marital status or current address
On the other hand, you should know that the bank will carry out an appraisal of the property that you want to buy and that, from that moment, it can request additional documents, relating to the property or of any other nature. However, by meeting those requirements you will be able to meet the requirements to buy a house, you will have already taken a big step to fulfill your dream.
Requirements to request the mortgage loan from the Lite Lender
For many, meeting the requirements to request a mortgage from the Lite Lender is the possibility of thinking about their own home, however, they are not very different from that of most banks. Currently, the Lite Lender has four credit options. Let’s review them:
.- Financing Ecovivienda.
.- Subsidy Housing Financing.
.- Mortgage Letters.
.- Mutual Own Resources.
The four options ask to be over 18 years of age, have a good business history and have been working in the same place for more than a year or since the start of activities. For all options, the chosen home must have an energy efficiency rating. This last one of the requirements is not the easiest to fulfill, that is why you should not rule out any bank when you are in the process of buying a house or apartment.