Take Home Buyer Credit

After read some Tips Buying a Home, this time another good tips how to buy a home but using bank credit. Buy a new home maybe is good choice but must consider about the financial too. There are 5 key factors that may help you estimate in advance how much the amount of home you are willing to borrow and how much that will be approved by the bank.

These are important keys to take Home Buyer Credit for Existing Home Owners, take attention to home tax credit and home loans that bank offers.

1. Your Income Month.
Large maximum loan that can be given to you are calculated based on the “three plus one”, which is three times the main income per year plus one times the second income per year.

2. Debts or obligations that run
If you currently have a debt that is running, with a monthly debt repayment obligations, such as credit card receivables, the bank will automatically reduce the amount of loan can be granted based on your income. Why? Because the obligation to pay the monthly mortgage repayments to reduce your ability to pay home mortgages. Limit on the total monthly debt that is considered safe by the bank amounted to 30% of the total monthly family income. If your current debt is big enough, then the less likely to get new loans from banks, or at least become smaller than the above-mentioned par.

3. Nominal own financing
There is one thing you need to remember when applying for mortgage at a bank, namely the large number of home loans made to you will not reach 100% value of house prices. In general, banks will only be paying approximately 70% of the price of the house, so that the remaining 30% must be your own finance. 30% of this value is usually called as down payment, and paid to the developer or the home seller.

4. Your financial history
If you ever have a history of bad debt, will be harder for you to get a loan from the bank. Because when your home loan application is received the bank, the bank will immediately look for the data history of your debts in the past, such as installment debt is delinquent, until recently, to the history of lending and borrowing in a court case. These are all risk factors that will be effect default size of loans provided by banks.

5. Sustainability of your income
Banks prefer working lives of the prospective borrower with a more stable and enhance their career quite well. At least the company you work for now, the work you’ve more than 2 years and appointed as a permanent employee. If you do business entrepreneur, at least 2 years of running businesses, considered quite safe by the banks in providing credit.

Take home by credit from the bank loan is good choice. Help you to handle money and start to build your financial. All we need is the agreement to pay the fee as written on the letter.