Procedure to take out a mortgage on the house
Many families, young couples married or cohabiting at the time of buying a house they decide to apply for a bank loan that allows them to spread the cost of the property over the course of several years (on average from 5 to 40 years). Generally, the amount of principal payable by the bank is calculated by considering how correct starting point for the amount of the repayment of the applicant, and the majority of banks covering 80% of the property value. Before you get a mortgage, however, will be presented a large number of documents which will then be evaluated carefully by the "lender" to decide whether the conditions necessary for the provision.
First, it is crucial to choose the bank can meet the needs of the "borrower", then at the same facility you can withdraw the application for mortgage real that will be completed in its entirety. This document is presented in the form of a questionnaire that focuses on a variety of information: Questions about family (household composition, dependents), applicants (data, current residence, employment, current employment, seniority, monthly and annual income) on house to buy and hypothetical current debts of applicants.
The next step is up to the bank, based on the information in the document of funding, will assess the feasibility of the mortgage. To make this decision, the bank not only will refer to the documentation received, but will also perform research through databases, to learn about the financial history of the applicant, estimate that there are no other funding already in progress and ensure that it fulfills the times of payments; also will target a technician to assess the real value of the property and if, in relation to it, the fair value of the loan is required.
Happened the decision by the bank, will be the date for signing the contract of public funding in front of a notary public, on the same day in which the buyer will sign the deed with the head of real estate. The role of the notary is to register a mortgage against the property.
03/03/2011
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Translated via software
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Source:
Italian version of ReteIngegneri.it