Obtaining housing loans is one of the most difficult tasks in modern society. Both the increasing unemployment problem, low salaries, and the fact that life became much more expensive have made it a dream for people to become homeowners. However, there are some solutions for this situation. For example, the housing loan option offered by banks as a result of people realizing this situation has paved the way for many low-income homeowners.
With the emergence of these loans and the fact that they became legal in 2007 under the name of mortgage – mortgage loan , banks became a glimmer of hope for owning housing on behalf of people with low income. Especially with the legalization of this loan, many different options in housing loans were offered to bank customers. This situation has increased the citizen to a more advantageous position than before. Loan applications made to banks for the purpose of owning housing have naturally increased parallel to this.
Is There a Precautionary Procedure Followed by Banks?
Banks conduct a highly detailed review of their customers applying for mortgage – mortgage loans . This is because housing credit generally means very high sums, and banks must establish a full trust relationship with their customers in order to offer these sums. In addition, if the loan application is approved, it is checked whether the house that is planned to be purchased is eligible for the loan.
If the house is not eligible for a loan, the bank will not make any mortgage payment. This is due to the fact that banks keep the house under mortgage until the end of the payment of the loan. It will not be wrong to say that the person who owns the loan does not have a 100 percent right on the house until he / she pays his debt. If the debt is not paid, the house purchased by credit will be confiscated by the bank. After the loan is paid in full, the person who applies for the loan will be the owner of the house and the mortgage on the house will be completely removed.
Is there a condition of guarantor for housing loans?
As a rule, there is no requirement to show any guarantor when obtaining a housing loan. After the loan is taken home mortgage will be taken. However, it should be remembered that although there is no guarantor requirement in the housing loan, the credit rating of the borrower will be very attractive and it will be difficult to obtain credit if the credit rating is mediocre.
Which types of houses are eligible for housing loans?
First, check whether the house has been completed. If the house to be purchased is not completed yet, it is necessary to have the easement deed. If the house is completed and the resettlement is taken, the bank will request the ownership of the title deed. If the house does not have a condominium, an additional fee must be paid for the ownership. However, in order to acquire this property, the resettlement must be present.
The age of the house is one of the most prominent issues about eligibility for housing loan. For banks, the age of the house may not make any sense at all times. In fact, the most important thing for the bank is to guarantee its receivables and to be able to cash the house. On the other hand, if there is no housing project with which the bank is contracted, at least eighty percent of the house to be purchased is completed in terms of accepting mortgage – housing loan application.
What is required to apply for housing loan?
In order to apply for a housing loan, first of all it is necessary to reach the age of 18. Anyone who has completed the age of 18 and can document their income can apply for a housing loan. Of course, it will be necessary to document income status and to present official identification documents.