What should you know about a home loan? Can anyone get it? What to look for when applying for this type of commitment? Have a look!
Many Poles dream about their own four corners, i.e. a flat or a house. However, not everyone can afford them. There are few people who can finance this type of investment for the saved cash.
It seems to many that the purchase or construction of a house will forever remain beyond their financial reach. Meanwhile, the credit market appears more and more opportunities Jam achievement ECIA commitment attractive and satisfying both sides – the client and the bank, conditions.
Home construction loan or mortgage?
This loan is very often confused with a mortgage commitment. Although they both come down to almost the same goal, they differ in several key aspects. Mortgage is based on a one-time payment conferred a measure of in. Just that the applicant has successfully completed the verification process and obtained a favorable decision in a banking institution. After receiving it, the funds will immediately be in the borrower’s account. What is the situation with a home loan?
Obtaining this type of commitment is more complicated than it is with a mortgage. In both cases, the bank obviously checks the applicant’s creditworthiness. He assesses her on the basis of numerous circumstances and certificates submitted. The potential borrower must provide the banking institution with documents proving his identity, income by the amount achieved in, paid contributions to social insurance and tax in the Tax Office, and frequently hampered the desired statement from the employer, if employed on a contract plan.
What else does the bank check?
Under the magnifying glass analyst bed in credit will also house the credit history of the applicant, taken from the register of bed in the debtor bed in institutions such as the Office of Economic Information, Credit Information Bureau or the National Register of Debt bed in.
They provide zar bed NCE positive threads from the past a client, and evidence of his unreliability. So it is worth gradually, from an early age, to build a good image of yourself as a potential borrower, because you never know when it may be useful to us. What people Deralas Personal Debt’re trying for a loan, but do not have a horse ca “clean” card? Those Deralas Personal Debt decisions were not paid off previous debts on time or at le og bed, waiting for a lot of disappointment. The bank will probably reject their request.
The Bank may also ask to see a document in bed notary confirming ownership of the land on Deralas Personal Debt IRD is to stand property, extract from the land registry or the writings of the zoning plan and zoning bed in the whole area. You will also need a building permit and any other costing and designing documents. In order to gain greater credibility, the applicant should ask for the opinion and valuation of the appraiser as well as the construction manager.
This will show an employee of a banking institution that a potential borrower approaches the topic professionally and, above all, seriously. Of course, it is possible to buy a plot for construction using credit money, but this significantly extends the verification process at the bank. Few entity bed in with the financial industry has in its offer credit zar NCE bed to the ground, and the construction of real estate. For this reason, it would be good if at least the land was purchased from the applicant’s own money.
The essence of a home loan
Óćmy hand, however, to answer the question, what difference there is between the mortgage and the house. The latter is divided into two stages: construction and commissioning of the property. Thus, we can see that while with a mortgage the borrower receives the entire amount at once or in several installments, the loan for building a house is more purposeful and the bank controls the progress of the investment.
This type of commitment is also characterized by the need to provide more banking institution in the document bed. This refers to the preliminary plans and implementation of the investment projects, ó kt ra is to be financed with a measure of the coming of the bank.
Each invoice, the additional cost, a change in the assumptions must be consulted with experts, WHO set Deralas Personal Debt binding on the entity providing the financial support to the opinion. It is important that any deviation from the norm, already at the stage of construction of the property, may result in suspension of payment of loan installments, which may result in additional costs for the borrower, etc.