1) Calculate your savings capacity / disbursement
Fixed income (last 6 months) Fixed Expenses (last 6 months) Capacity savings (fixed-income fixed expenses 6) disbursement capacity = capacity x .25 + saving your current income. * This amount may not exceed 25% of your income.
You can view this article where you can download an Excel table that will help you calculate what you can afford a mortgage .
2) First handles credit, then search the house
Avoid monthly payments that are beyond your abilities and do not compromise your financial stability in the future.
3) Cost postpurchase
There are costs associated with buying a house that you have to take into account: moving, your current home costs, maintenance fees of the new property, etc.
4) CAT, interest rate, amortization rate, Mensualidad
Asks banks Where are you quoting to get a financial run with the credit amount, the value of the property, monthly breakdown of the initial left and monthly payment specifying how much will insurance, interest, fixed capital and balance. So you can get what you're actually paying.
5) Costs related to recruitment
When the mortgage process is important to take into account that all is not included in the bank loan. Hoof addition you will have to shell out your savings between 4.5 and 10% of the property value, corresponding to:
- notary fees: involve additional cost. In Mexico City it represents about 7% of the property value, while inside between 4.5 and 5%.
- Assessment: on average, $ 3,500 pesos per million pesos the cost of the property.
- Commissions: financial institutions usually charge a fee for opening from 1% to 2% of the amount of credit granted.
Comments (0)Subscribe to CommentsComment