Purchase of an apartment only seems so easy. When we face him, it turns out to be an extremely demanding job. Starting from his choice and ending with obtaining a mortgage for his purchase. Therefore, before you submit an application to the bank, check everything you need to know about a mortgage.
The procedure for granting a mortgage is a multi-stage process. Not everyone is aware of how many formalities he requires. Starting from the preparation of appropriate docodontów, ending with own contribution. What you need to know about the mortgage, how to prepare for it?
Prepare the appropriate documents
If you want to apply for a mortgage, you must have the appropriate documents on the basis of which the bank will be able to analyze your credit options. Therefore, numerous documents must be provided to the bank, including:
- document confirming personal data;
- income statement issued by the employer;
- contract of employment;
- documents confirming the possession of an appropriate own contribution;
- entry in the land and mortgage register, enabling the confirmation of real estate mortgage.
Convert if you have the right creditworthiness
For a bank to grant you a loan, you must demonstrate that you have adequate creditworthiness. However, you may not have enough earnings. Another problematic issue for a bank may be work based on a mandate or work contract that is not honored by the bank. In this situation, it is also possible to take a loan with another person, such as a spouse or life partner. Many people also decide to take out a loan for an apartment with their parents. Thanks to this, you increase your creditworthiness, because all income is added up, and because they are higher, and the chances of taking a loan increase. Of course, the latter option will not always be applicable, because not everyone wants to fall into such dependencies. Nevertheless, it can be an emergency exit.
Check if you have the appropriate own contribution
First of all, we should start with the fact that no matter in which bank we will apply for a mortgage, we must have a 20% own contribution of the value of the property that we want to buy. This rule is imposed from above by law, and therefore, unfortunately, we have no choice. Of course, simply having a sufficient amount of your own deposit will not guarantee you receiving a loan.
These are just some of the most important aspects of the mortgage application process. If you want to know more about this topic, also check out such articles as: What you need to know about the mortgage, Mortgage Calculator, or What conditions must be met to get a mortgage.