We could start looking for houses near the areas of our preference or request a loan and see how much they lend us.
To make a good decision it is important to determine if the house we are looking for is in line with our financial reality.
For example, it is a mistake to assume that I can buy a house with a value of MX $ 6,000,000, when we still do not know if we can get a mortgage for this amount.
In addition, we must consider that we must pay a down payment directly to the seller, along with other initial expenses to be disbursed.
Another problem that could occur if we start looking for a house “blindly”, is that we would not know if we can sign in time so that they do not win the property. We would have to wait for the credit to be granted and in that time someone else could buy the house.
Is it necessary to have a specific property to apply for a loan?
No. You can not yet be decided by any house or department and start the process of mortgage credit. You can base yourself on an approximate amount, see how much they would lend you and even get to the approval of your credit.
What is the recommendation to start the home buying process?
It is advisable to have a pre-approved or approved mortgage credit , because in this way in case you want to make an offer for the house, you would have the form to check that there is an institution that will grant you the credit to buy it.
What does it mean to have an approved credit?
First it is important to mention that having an approved credit does not imply a commitment, you can use it if you are sure to buy a house, however this does not commit you to anything.
We will send you a letter confirming the offer, where you will see the interest rate granted, term, type of payment, credit amount and everything related to the credit.
What is the advantage of obtaining approval before searching the house?
The letter granted by our company has a validity of 4 months, so even if you do not have real estate, you can start doing it realistically, looking for houses that fit your budget and credit granted.
This is why the ideal order would be: Apply for a mortgage loan , get an approval and once we know what the amount they will lend us, we can look for a house.
However, if you already have a house that interests you, we will help you to approve your credit in a few hours so that you do not lose the opportunity to purchase.