Buying a house is one of the biggest investments you will make throughout your life, which can lead to a significant burden of associated stress. You should try to relativize and not fall into the false myths that exist around this issue. Today we deny 5 false myths about mortgages.
They only grant you the mortgage if you have an excellent credit history.
Obviously, banks like you to have a moderate level of indebtedness, because they are more likely to have payments made correctly. However, you can also access a mortgage with an improved credit history. However, you will have to compensate with more documentation or more guarantees.
If you don’t know what your credit score is, you can calculate it.
If your parents don’t leave money, you’re going to have fun.
Completely false. Although obviously leaving you some extra money will help you ease the mortgage burden, it is not necessary to have the help of our parents to pay the mortgage. Find the best option for your particular case. Decide if a variable or fixed rate is more convenient for you depending on the money you need and don’t give up on your search.
I marry the bank with which I contracted the mortgage.
To think that you will be paying your mortgage loan for 10, 20 or 30 years can be a bit intimidating perspective, but you must remember two things. First of all, the bank is interested in paying, so if your situation changes for some reason, they can offer you customized solutions, treating your case in a particular way.
Second, there is also mortgage subrogation. That is, if at some point you find an offer that suits you best, you can always change yourself through a mortgage subrogation. Of course, you will have to verify that the cancellation costs compensate for the change.