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Financing mechanisms if I want to buy a house


Having a home is a universal goal. Here are some financing mechanisms for when you say: yes, I want to buy a house!

They say that mortgage loans are the best debts you can acquire since they generate you equity. However, this commitment will always be long term, so you must take into account that your income will be committed as long as the financing lasts.

This Institute has been one of the most affordable ways for the population to acquire a house

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  • Good Finance credit. This Institute has been one of the most affordable ways for the population to acquire a house. In addition, there is good news that all new loans will originate in pesos and not in minimum wages, since this caused the capital to never be reduced and, on the contrary, in some cases the increased debt and the workers did not even know why. .

To qualify for this benefit, the worker must reach 116 points and take a course to better decide how much that will be lent will be used. Today there are not only loans for a new house, you can also buy a used home; or remodel or build your house if you already have land for it. Start by knowing how many points you have and what the amount of your loan is.

  • Mortgage What they have named the rate war has been going on for several years. It refers to the constant reduction of rates on mortgage loans by financial institutions. Currently you can find credits to buy your house with an interest rate of 8.45%. It considers that the hiring of these plans is long term.

Recommends that you verify the following aspects

Recommends that you verify the following aspects

At this point the National Commission for the Protection and Defense of Users of Financial Services (Condusef), recommends that you verify the following aspects before accepting a credit like this:

  • Amount to be financed (proportion of the value of the property that can be financed by the bank).
  • Check if the credit they are going to grant you is in Weights or in IDU’s and the advantages and disadvantages of each of these options.
  • Hoof amount (amount of property value which must be provided by the interested customer to start the sales transaction).
  • Deadline requested for credit settlement. (number of years in which the mortgage loan will be amortized).
  • Interest rate considered for credit settlement, which can be fixed, variable or mixed.
  • Moratorium interest rate, in case of late payments.
  • Applicable fees and amount thereof. For example: credit opening, credit investigation, socioeconomic study, appraisal, life and property damage insurance, etc. Some of these expenses and commissions will have to be paid at the beginning of the loan and others during the term of the same.
  • Existence or not of penalty for making partial prepaid (prepaid) payments or for total debt.
  • Approximate amount of notarial expenses for deed.

Grow your money

If you do not have social security and cannot access Good Finance credits or do not want to contract a mortgage with a bank, the option is to put your money to work. To make it grow and be able to pay at least the down payment, there are investment funds or, too, you can become a lender of a P2P platform to make your money grow.

The best thing is that you look for an advisor so that through a simulation it is reflected: your goal, the time in which you plan to use, and the savings you will spend to achieve it. This will give you a clearer idea of ​​how you will reach your goal.