Mortgages, in other words, the system in residential credit, are the same. First you choose the house you want to buy yourself. You must have a down payment of approximately %. You can also owe your bank for the remainder of it. These down payment amounts may vary again, judging by the appraisal report. So if you’re buying the house at a lower price than the appraiser report, you can also give less down payment. Then the bank asks the appraisers he works for to inspect the house. According to the appraiser report, credit calculation is done. The bank asks you to document your income again. If you’re a salaried employee, you’re going to be asked for a number of documents, even if you’re doing your own income or trading. Accordingly, a loan amount that you can withdraw is determined.
How much mortgage can I use on my income?
Even if the bank shows some change, you can use a mortgage to exceed your income of monthly installments. For example, if you have a monthly salary of $2,200, you can use a loan with a monthly installment of $1,400 for a 120-month term. (Monthly installments are variable, may increase or fall according to interest rates) You can also show people like the same house as you, like the parents, as well as your income. Then you can use a higher consistent loan. If the money entered into the house is 5,000 TL per month, then it is possible to use a loan in amounts such as 3,000 TL per month.
When using a loan, the banks will also look at your credit rating. If you’re blacklisted or you’ve had a credit problem first, your mortgage loan may not come out. Or if you have a lot of other loan debts, your bank might want you to settle these things.
Bank puts mortgage on home
The bank puts a mortgage on the house you purchase and you can start living. In this house or rent out the house. When your debt is over, you can apply to the bank and remove the mortgage on the house by taking a mortgage fek letter. So you can own a long-term and lower loan with the help of mortgages. Since the bank has put a mortgage on the house, it is actually a commodity, so it allows for lower-interest loans compared to other types of loans.