Getting a mortgage or สินเชื่อคือ is a complex process that requires thorough analysis and good preparation at every stage, both from the bank and yours. Neither you nor the financial institution can afford to make a mistake. Sometimes a small mistake can cost a lot and delay the launch of the loan, or even affect the bank’s refusal. The necessity to take into account many factors may initially frighten, especially that there is no shortage of myths about mortgages in which we still believe. What happens at every stage of the loan for a flat? How to go through this process efficiently and without problems? In the article you will see step by step what the mortgage loan process looks like.
Checking creditworthiness
If you are preparing to take out a loan to buy a flat or house, first of all you should check your creditworthiness. Many people are looking for real estate in the first place. Meanwhile, without knowing about your own ability to pay off your liabilities on time and with interest due, you can easily make a mistake and choose an apartment or house whose price exceeds your financial capacity.
It is worth knowing your creditworthiness even before the bank calculates it. The calculators may be helpful in the network; however, they most often operate on a simplified set of data. You can also go for directions to a financial advisor or a credit expert.
When examining the possibility of repaying a loan taken out at a given time, the bank takes into account many different factors, such as:
- The type of loan you are applying for;
- Repayment period (the longer you can get, the more you can get);
- The amount of own contribution;
- Your current financial obligations, including in other banks;
- The source of your income and their amount;
- Form of employment (preferred employment contract for an indefinite period);
- The size and costs of maintaining the household;
- The history of cooperation with the bank (whether you already have an account in it, whether you have incurred and repaid some loans in it);
- Your age – the older you are, the harder it will be to get a loan for many years;
- Marital status;
- Place of residence;
- Number of your family members.
In order to never have problems with obtaining a loan, it is worth knowing about things that the bank will reduce our creditworthiness.
Choice of real estate
The market abounds in offers tailored to different expectations. Prices of flats and houses depend on the region of Poland, the size of the property, as well as its initial status. Although many of us dream of a flat from a developer, we often decide on premises for general refurbishment, usually at a lower price than real estate from the primary market.
Re-examine the ability
Searching for a property tailored to your own expectations and financial possibilities may take a long time – it will not hurt to check your creditworthiness again in this time. Thanks to this, before you go to the next stage of the process, you will be sure that in terms of the amount of credit that you are able to incur, nothing has changed.