If the monthly payment is calculated to be more than 30% of your salary, the bank could reject your application, experts warn.
To achieve the dream of owning a home, you don't have to embark on an epic feat - although the habit of saving sometimes resembles it - you just need to be disciplined in managing your personal or family finances.
However, not all creditworthy individuals and good payers can face such a commitment, warns economist Juan Carlos Ocampo.
FIRST FILTER One aspect that banks evaluate, for example, is that the amount of the monthly payment does not exceed 30% of individual or marital income , he says.
Therefore, before applying for armenia number screening financing you must make sure to find a home whose price matches not only your expectations but also your ability to pay.
The formula that Ocampo recommends is: (Property value – Initial payment) ÷ Number of months to pay .
If the result exceeds 30% of your monthly income, it is likely that some entity will reject your application , he says.
RECORDS AND PAPERS Paúl Lira, professor at the University of Applied Sciences (UPC), lists four other important aspects:
1) Not being registered in a risk center.
2) Not being over-indebted.
3) Legal documentation of the property in order.
4) Good health (they may ask for a medical exam for the life insurance).
If you are not given credit, do not be discouraged. Lira recommends finding out the exact reason for the rejection and correcting the comment.
"If it was because of bad references, regularize your situation and open the records at the central offices. If it was because you had a lot of debts, reduce them, cancel most of them," he concludes.
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