The main advantage of buying a home as a couple is that it allows the income of the two people to be taken into account when applying for a mortgage loan.
In addition, single or multi-family households with total incomes up to $ 2,950,868 (4smmlv) can receive a ‘My house now’ subsidy to purchase a new home.
They can also check in the compensation fund in which they are affiliated to request a housing subsidy, as well as find out in the entity in which you are going to request the credit about the increase in the interest rate, remember that you can only request one of these subsidies (Government or Compensation funds), and if one of the persons in your family nucleus already has a home in their name, they cannot be a beneficiary of any subsidy.
Fulfil the dream of owning your own home
Next, Asobancaria gives us some financial advice to help make this project a reality:
1. Determine how much money you have for the down payment -this is equivalent to 30 percent of the property’s value-, adding the individual savings, layoffs, among others.
2. If you are going to use financing, prefer mortgage loans and/or housing leasing contracts, as they are specialized products that offer the best interest rates and terms. It is not advisable to buy a home or pay the down payment with revolving or free investment loans.
3. Avoid borrowing to pay the down payment, it is better to develop a savings plan and follow it to the letter. Also remember that the more debts you have, your debt capacity decreases.
4. Check the flow of money into the home and make sure you have enough to cover the monthly payment of the mortgage loan.
5. They cannot ignore that in addition to paying the initial fee, it is also required to have extra money for the costs of closing the business (deed and registration) and installation in the new home.