If you want to buy a house in installments, here we will inform you about how to do it and the different ways you can pay for a house in several installments. Next, the information you need.
Buy a house in installments, with a mortgage.
The most normal when buying a house in installments, is through a mortgage. The bank is in charge of lending the money, in exchange for certain interests, conditions and certain fees.
What types of mortgages are there to buy a home in installments?
If we classify them according to the type of interest, we can see that there are two types of mortgages, those of variable income and those with a fixed interest rate. In Spain, the mortgages that are most made, are equity mortgages.
The mortgages of variable rent have interests that depend on the “Euribor” a percentage on which depend a great number of banks of the zone euro, whereas the mortgages of fixed interest, always have a same percentage in their interests.
- More information on the classification of mortgage loans according to their interest rates. See: types of mortgages .
Previous mortgages are not the only ways to classify mortgages, we can also see different types of mortgages , by other factors that differentiate them.
Mortgages at 100%. They are not the most used, but these mortgages are granted without having to give an entry, that is, the bank or financial , pay the house at 100% and the person who wants to pay the house in installments, must pay 100% with the respective quotas.
Self-driving mortgages. Self-promotion mortgages are made for people who want to pay a house in installments, on their own land. That is, ask for a mortgage to build a house on their own land and for builders who want to build a house or a building.
- More information on self-driving mortgages: mortgage to build housing on own land .
What requirements will I need to apply for a mortgage and pay a house in installments?
The requirements may depend on several factors. For example, the country in which you live and the promotions available on the date you request that mortgage.
The most frequent requirements are, having fixed income or a guarantee , not having many debts and having few or no open loans. Some of the sectors of society, will have less difficulty to apply for mortgage loans, such as the official or employees of the bank.
See mortgages for officials : mortgages for officials .
Sometimes it is advisable to go to financial advisors , which are not the same as commercial ones and in this way get promotions that are more successful or personalized. From this web page we recommend, go to prestigious consultancies, since a mortgage many times, is something for almost all of life.