People who want to own a house decide what kind of house they want to buy and then search for capital to buy it. At this point, housing loans provided by banks with favorable interest rates and long-term are included. Since housing loans are given with the logic of birey be a homeowner as you pay in installments ”, it is one of the most preferred types of loans by individuals. A housing loan is a type of loan provided that the house to be purchased is secured.
Although the interest rates of housing loans are generally fixed, their maturities vary between 5 and 30 years. Individuals wishing to apply for this type of credit can determine the housing they want to buy and then find the most suitable loan by conducting research among the banks that provide housing loans.
After the loan application is approved and approved, Real Estate Appraisers are involved. After the experts determine the value of the house to be purchased, the individuals who will buy the house are required to pay one-fourth of the value of the house as a down payment.
By law, housing loans can be obtained from banks up to 70% -75% of the appraised value. For the remaining 25% value of the house, people who want to buy the house must have a down payment. After obtaining a housing loan, payments are made on a monthly basis at the interest rates and maturity determined during the contract.
What is Mortgage?
Mortgage is also known as mortgage. Is there any difference between mortgage and mortgage at this point? In fact, since 2007, there is no. Previously, individuals who wanted to buy housing were given housing loans with a maturity of up to 5 years and interest rates were high.
The mortgage was given at long and low interest rates up to 30 years. In 2007, mortgage and mortgage merged. For this reason, there is no difference between mortgage and mortgage. So the mortgage loan also means mortgage.
Which documents are required for housing loan application?
When individuals apply to banks to obtain housing loans, there are documents required by banks. At the beginning of these documents; identity card, residence certificate and income certificate. Since mortgages are involved in housing loans, no guarantor is required by the banks.
However, if the applicant’s income is not considered sufficient, the guarantor application may be activated. In addition, housing loans are not granted to persons who have been initiated bank follow-up due to another loan debt.
Which houses have housing loans?
It is very important that the housing to be purchased at the stage of withdrawal of housing loans is suitable for the loan. In order to get credit for the desired housing, it must be “condominium”. The existence of the title deed of the condominium is sought by the banks as a condition.
For the houses purchased from the project, there is a condition of irt flat easement deed ”. In order for people to get credit for the house they want to buy, the quality of that house should be defined as “residence”. No housing loans are granted to land title deeds, shops and warehouses.
What should be considered when choosing the payment plan of the housing loan?
One of the most important points for individuals who will use housing loans is the payment plan of the loan. For this reason, individuals who want to use housing loans should make decisions by conducting extensive research among banks.
This is because the payment plan that people choose will determine the payment ranges they have to comply with during the term of the loan. It will be useful for individuals to choose their own income, salary amounts and dates and choose a payment plan that is close to these dates and will not cause any difficulty in the payment process.
At this stage, it is also very important for individuals to choose a loan amount that is at their solvency rate. Because if one or more of the loan installments are not paid, the interest amount is applied to the existing installment amount and if the debt is not paid, legal proceedings are initiated.