Have you decided to start the search for the home of your dreams? Certainly this task is not simple, it is the most important family heritage. To choose it, involves a number of facts that we have to consider before taking this step. One of them is the mortgage credit.

This kind of financing, most of the time, means an ideal choice to proceed with the purchase of a property. We asked to Gaston Rappaccioli, General Vicegerent Manager of Retail Banking Lafise Bancentro, to guides us on the procedure to follow when we are ready to buy a home.

As a first instance, in the case of Lafise BanCentro, the customer will receive the necessary advice to study all the basics aspects that will bring  you and your family comfort and safety. According Rappaccioli, it is important to note that the property location converges with their daily activities such as schools, universities, shopping malls, hospitals, etc.

Financial health is a very important aspect to take in consideration, in addition of one of the first analyses it is to check your credit record, also has to assessed other details regarding the inflow and management of their personal finances. The monthly payment that will be used for this new requirement should not occupy more than 30% of their income.

 Deadlines

Many questions arise about a long-term financing and some of these relate to issues such as interest rate and its variations, If the customer does not understand it, could be in trouble to assume their financial commitments. In this sense Rappaccioli usually explains that a credit mortgage could have a maximum term of 20 years and diversifications rates depend on the index that each bank has, which can be quarterly, semiannual or annual.  In some cases, there are fixed rates loans from intermediated funds but depends on the availability.

 When it comes to making a couple purchase, the benefits are greater, because it is taken into account as family income and thus makes it eligible for a larger credit.

The requirements for acquiring a credit mortgage come when you fill out a form with all personal data and references, proof of income, bank accounts (if is an own business), identification and credit record. In case of foreign procedures, they are the same, the only variation is that the proof of income and credit record come from their countries of origin. BanCentro also funds Nicaraguans living abroad.

When the house is not new, an appraisal, title deed, registration history, encumbrance and cadastral solvency is required.

The mortgage portfolio grows

According to the General Vicegerent Manager, in recent years, the growth of the mortgage portfolio and the supply of properties has been constant, strong enough, to corresponds to a rate greater population and better economic conditions of people.

 If you want to apply for a credit mortgage, you need to analyze before if it is able to have one and the pros and cons that this would bring to your economic welfare.

 

María Teresa Pérez