But nowadays, obtaining a place of residence is not as complicated as in the olden days again. Because of the changing era People have more education and income. The competition in the property market is also increasing. Resulting in lower housing prices as well as more great promotions And the way that we use more to get housing that is Requesting a loan is a simple process which is not very complicated.
Mortgage loan process
Choosing the right bank
Principles for choosing the right bank to request Mortgage, we have to consider the costs that we have to spend on the purchase of housing as a whole, which we have to pay by the bank in the long run. The part that affects this expenditure is The interest of the bank Therefore, choosing a bank to apply for a mortgage must mainly consider interest rates. By choosing the bank with the cheapest interest.
Which interest must see Must also look at both the interest during the promotion and the average interest rate throughout the contract period. Because don't forget that payment of housing bills with banks is not only 3-5 years, but may even be 10 years or more. Therefore, only looking at interest during the promotion of the bank, which is usually cheap interest, is usually the average interest during the first 3 years. These promotions are especially for those who want to apply for a loan. By focusing on short-term value that will make people more interested in long-term promotions.v
In addition, some banks not only reduce interest rates only But also reduced the transaction fees And another factor that many people forget to think about is the convenience and speed in contacting the bank We should choose a bank that is near and can contact immediately when there is a problem. Whether it is a problem with installments Or not receiving various receipts, etc. which can cause the contract of the loan applicant and the bank to have problems Choosing a bank that can be trusted and can be approached at the time of need makes buying a home easier.
Therefore, the simple principle that we must remember when choosing a bank is that the right bank should have a low interest rate and a fee reduction. And is a bank that we can easily contact when having problems or need advice.
Preparation of documents for requesting Mortgage
The process of preparing the documents to request Mortgage This begins when we can decide that Is a bank that can be trusted and has the right interest that we want At this stage it begins immediately.
The first thing is to ask the bank to prepare any documents. In most cases, similar documents are used by all banks. And important documents used for mortgage loans are divided into 3 main parts which are
Important documents regarding housing that will be used as collateral
Which here is Housing that we want to buy These documents are available in a variety of types according to the type of housing we buy, such as a copy of the purchase and sale of housing. Copy of land title deed Copy of land ownership Brief plan of housing location Construction plan and construction permit (in the case of applying for a housing loan for residential construction And in the case of condos or apartments The loan applicant should also have a housing plan.)
Important documents regarding loan applicants
Is our important document, such as a copy of ID card Copy of residence registration Proof of work certification Copy of government official card in case of being a government official or state enterprise employee etc.
Financial documents
Is the documents specified by the bank and is a document confirming the financial status of the mortgage applicant, such as a copy of the bank statement for the past 6 months, a certificate of income Salary certificate Or any document that shows the bank that the financial liquidity and ability to pay off the mortgage loan applicants.
In addition, the inspection of financial documents of the bank Can also check our liabilities, such as credit cards or loans from financial institutions, whether their own financial institutions or other financial institutions If showing how much we have discipline in paying debt. Which the bank will use in making the decision as well.
Standing documents and waiting for approval
When preparing documents for requesting Mortgage Already The next step is to file a case with the bank. After that, the bank made an appointment to assess the price of housing together. Normally, the time that the bank will contact you back is 1-2 weeks after submitting documents but not more than 4 weeks depending on the bank itself.
