Buying a home is a big step, and applying for a mortgage loan is one of the most important financial decisions. To make sure the process is successful and you get the best terms, keep these things in mind 5 key tips:
- Check your credit history
Before applying for a loan, make sure that you are not reported in credit bureaus. A good track record will help you obtain better interest rates and more favorable terms.
- Maintain good financial behavior
Pay your bills and credits promptly demonstrate to financial institutions that you are a reliable customer.
- Reduce your debts
Make payments on your current debts and avoid requesting new credits in the short term. This will improve your borrowing capacity and allow you to access a mortgage loan more easily.
- Take care of your level of indebtedness
Ideally, your debts should not exceed 30% of your monthly income. Maintaining this balance will help you demonstrate financial strength and increase your chances of approval.
- Request a pre-approval study
Before choosing a home, ask for a pre-approved with the financial institution of your choice. This will give you a clear idea of how much you can spend and will facilitate the purchase process.
💡 Extra tip: Compare different credit options and choose the one that best suits your profile and needs.
With these tips, you will be closer to fulfilling your dream of homeownership. At Conaltura we accompany you in every step of the process. 🚀🏡
