Family is the most important thing in your life. Therefore, having a home of your own is the best idea to provide the security that those you love deserve. But you know how to get a loan for a house?
There are several very useful financial instruments to achieve the property you want, representing a good opportunity for stability. And each of these has conditions and requirements that you must fully comply with.
Know the products available, compare each credit option and analyze carefully. So you can choose the one that suits your needs and provide yours with a home of their own. We tell you.
Buying a house with bank credit
If you have wondered how to obtain a loan for a house, the banking alternative can help you a lot. To access this loan it is important to study your financial situation, age and have a certain future income perspective.
However, it is not enough just analyze your finances or even have a good economic status. It is essential that you have savings, since the bank will not grant you a 100% credit for your home.
But a mortgage loan does give you a high loan percentage, which helps to collect the amount corresponding to the down payment. Now, what do you need to apply for this type of credit?
Requirements for a bank mortgage loan
As you know, the bank has its conditions in terms of mortgages. One of these is to make sure you meet your financial commitments. How is this possible? Next, we explain how to obtain a loan for a house.
Not all banking institutions request the same requirements, which may vary depending on various factors. However, the general rule or trend leans towards the following requirements.
You must have a good reputation or credit history with the Credit bureau. It is a way of showing the bank that you are a full and responsible customer with your payment commitments.
Make a down payment. This is an initial amount that ranges from 5% to 20%, depending on the bank. Some banks do not request a down payment.
Have a stable employment situation that allows you to meet the corresponding quotas.
Be reliable and punctual with your terms, which are generally executed on a monthly basis for 5 or 30 years.
Acquire a house with Infonavit credit
One of the smartest options when buying a property is the Infonavit credit. Do you already know it? The Institute of the National Fund for Workers’ Housing offers you the Secure Credit.
It is a form of savings through the commitment that, upon completion, you will enroll in the mortgage financing application. If you want to know more about how to obtain a loan for a house, look at these possibilities.
You can also do it through a very interesting credit scheme made up of Infonavit and BANSEFI (National Savings and Financial Services Bank).
Requirements for an Infonavit loan
Basically, you have two ways to request an Infonavit loan. One of these is through the Secure Credit, which requires the following requirements.
- Approve the Infonavit Secure Credit prequalification
- Original and copy of your birth certificate
- Work and quote in the IMSS and Infonavit
- Have at least one two-month contribution period in Infonavit
- Have less than 116 points
- Not having previously exercised an Infonavit loan
Infonavit and Bansefi offer you the opportunity to opt for a home loan, through the Infonavit Savings Account. There a fixed monthly payment will be established to deposit for your savings.
This amount is based on the minimum amount you must meet to get your savings goal and, subsequently, financing; which is divided between the term months.
How to obtain a loan for a house? Through the collection of the following requirements.
- Current identification
- Social Security number
- Infonavit Instruction Letter
- Opening deposit of 100 pesos
- Proof of payment of a public service that is no more than three months old. This is used to know your home location.
Acquire a Fovissste Credit
An ideal credit alternative if you work for a government agency. Each public employee integrated into the Institute of Social Security and Services for State Workers (ISSSTE) is entitled to this benefit.
Although the Fovissste loan does not cover the entire home purchase, it analyzes the financial situation of each applicant. Various amounts are handled depending on the seniority or economy of each employee.
Requirements for a Fovissste loan
Now you know how to obtain a loan for a house, but you must know the requirements requested by Fovissste. We tell you.
- Be an active employee of the State
- Have at least 18 months or a year and a half of contributions in the Housing Subaccount
- Not having any temporary or permanent pension process
- Register Unique Housing Code to formalize the acquisition process
Access the most effective tools, not only to take care of your family, but to raise your wealth. A better quality of life awaits you, but first you must take into consideration if you meet all the requirements.
Whatever your credit choice, it is essential to run a thorough analysis of your ability to pay. This will give you a clearer projection of your finances and a better performance when facing your commitments.
At Looking for a Home we offer you the best financial products, as well as personalized advice. Receive the accompaniment of real estate professionals so that you make a smart investment adapted to your needs.
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