Good question … What to do first? … Looking for housing or getting a loan? After hearing many customer stories, I have reached a conclusion. I will explain it.
Search house first
Many people go out on weekends to meet new projects, see model houses, see how a neighboring work progresses. They enjoy seeing trends. Quote and compare. Sound It is a good exercise, as long as you do not wake up when you wake up.
You will find many offers, many that do not fit your budget. How much is the maximum you can pay for your next home?
Maybe, you could look in the neighborhood you’ve always dreamed of and you don’t dare to do it thinking you couldn’t afford it.
You are going to look for a house with the characteristics that you would like to have, of course, it is the obvious and necessary. But, are you sure that you are considering all the possibilities of doing a good business? For example, could you aspire to more area?
You will fill yourself with information. Not everything will be useful when deciding.
You’ll spend a lot of time searching.
The other option is to apply for a pre-approval of a mortgage loan.
Get the credit first
It is possible to request a credit study from financial institutions. The bank will indicate if, at that time, with the conditions of your income and expenses, it will be possible to access a loan, of what amount and with approximately what monthly fee. You can read here 7 factors that influence when calculating a mortgage loan. As there are still no possibilities to deliver documentation of the negotiation of a property, the credit will be in the pre-approval stage.
If you know the value of the possible credit, you know the total value that you can negotiate. Add your savings, add the money you have available for business or the value of goods that you want to include in the negotiation.
Now you can research the offers online: filter first price, then location, then the type of home you want. You will have good options to meet. Your search will be more segmented, easier and organized.
Also, you will have more criteria to make the decision to buy a used property or a future property. For example, you have a pre-approved loan of $ 150,000; savings of $ 18 thousand. You could already negotiate a department that caught your attention. Credit information will allow you to combine market offers with your real capabilities. It is having a wild card that you can use in the play that suits you.
You could take advantage of the good deals on the market. If you like a used apartment or a new apartment in a project that is finishing construction, negotiate indicating that you already have a pre – approved loan! It’s almost like stating that money is ready.
In addition, you will be able to know the approximate value of the monthly installment and the expenses of a mortgage loan. That is, you can rest easy on the pace of your monthly expenses.
And quieter still if you do not waste time and effort visiting each sales room or each used apartment you see with a sign.
It would be similar to studying the conditions of a trip. Once you know the budget and the date, book the hotel. Don’t you think
However. Data from a single bank is not enough. Financial institutions in Peru have different policies and costs. It is better to have several options to compare. You can enter here, complete the date of what you need and automatically see the mortgage credit options you have.
You will not waste time in rows in banks. Scapin is a financial advisor, and we will give you the information you need to make the best deal. It’s about lowering your accounts and doing good business.