It is almost impossible to buy a house or apartment without a mortgage. Getting a mortgage is still difficult. So make it easier by following the steps in the process. Follow these steps:
The project and the borrowing capacity
The debtor must first ascertain the project he is preparing to finance. Knowing the project is close to his ability to finance it. A roadmap is therefore needed first to avoid mixing up the pedals. The future owner considers what he or she generally wants. Is it a whole house, a flat, or would he like a new home? If it’s still a makeover of the old home, all that. He should ask himself whether he is fit to commit.
The borrower should not forget to ask a bank advisor to assess his budget. Before starting the project, the advisor should know his or her financial capabilities. This process helps them to know how to proceed. They can also simulate on the internet to find out the approximate budget.
Finding a bank
This is the level that seems complex. However, there are many possibilities. If the borrower has a good relationship with his bank, it is possible to apply to it. If the borrower is looking for the lowest possible interest rate, he can turn to a mortgage broker. The broker becomes an intermediary in this case.
Preparing your file
The borrower must ensure that his file is in order. This applies to those who do not use a broker. The file in question must be clean. There must be no outstanding debts. The first contact will seal what will happen to the rest of the procedure.
Obtaining the agreement
The bank usually sends an agreement by e-mail. This means that you can benefit from the mortgage. This agreement may contain reservations. So make sure you respect the reservations when they are presented to you. For example, if the process has been compromised.
Releasing the funds
This is the notary stage. A deed of sale must be signed with the notary. Well before this, the borrower obtains authorisation from the bank to release the funds.