What is financing?

Also known as mortgage credit, this modality created by the bank seeks to give people an ease in obtaining an economic loan for a purpose. Well, to obtain this financing you must have some requirements to enter this modality.

What requirements must you meet?

The common requirements that banks usually require include being of legal age, accrediting income and ability to pay, having a minimum monthly income of S / .1,025, a minimum work continuity of 6 months and presenting the appraisal of the home in case of mortgage loans. If you meet these conditions, the bank will accept the financing.

Advantages of financing

Mortgage financing offers several advantages. First, installments are tailored to your purchasing power, allowing you to better manage your monthly payments. In addition, it is not necessary to pay the house in full to be able to inhabit it. Instead of paying rent, you can make monthly payments that will allow you to turn it into your property in the future. This option provides flexibility and the possibility of building long–term wealth.

Take into account

It is important to be cautious when acquiring mortgage financing, as it can accompany you for many years. Be sure to carefully review the bank‘s contract and analyze each clause, so you can ask your advisor how to balance your budget. It is essential that you manage your finances so that you can manage the payment of your financing well and achieve your goal of acquiring the house of your dreams.