Housing finance is a process that can go on for more than three months until completed, depending on the client's track record. Are you looking forward to getting to know what the stages are of approving a home purchase loan? After sending all the documents that the bank requests, there is a phase in which it will analyze whether the client has the feasibility or not to be able to advance with the financing.

steps to choose the best housing finance?

This step is thus a first approval that is not properly the credit, but rather refers to the eligibility of the consumer. Obviously, banks want to be reimbursed for the value they have lent, so naturally, they will first assess whether future debtors will be good potential customers. It is precisely at this stage that you will look at your professional situation, your income, your rate of effort, etc. Normally, the pre-approval of the housing finance can last up to just over a month. If you need help to facilitate pre-approval and follow-up throughout the entire process. This phase generally does not extend for more than a week, counting on the visit and the delivery of all the necessary documentation.

Note also that this procedure has costs for the consumer which, as a rule, result in the so-called valuation fee, which is charged to the customer by the bank - this is not usually verified when the property is owned by the bank itself. Ask for the housing finance you can have, not for the dream you have. Evaluate your financial capacity, your fixed charges well and look for a home that represents a burden you can afford and that does not endanger the financial stability of your household. Try to be conservative in this analysis, protecting yourself from the possible fluctuations of the benefit due to the rise and fall of interest rates, so that the charge with the benefit does not become an expense unbearable for your family.

The last thing the Banks want is for them to stop paying the installment, so they'll try to do an even more conservative analysis. After all the documentation has been submitted, the bank will analyze the same and realize whether or not you have the possibility to buy the house, and whether or not they will proceed with the financing. Please note that this step is more about consumer assessment and eligibility and does not have to do with specific credit. This is for the bank to have some assurance that you will pay the credit you requested since their intention is to receive the money back. It is at this point that the bank will look at your professional situation, your income, your effort rate, etc. This phase of the process can last up to just over a month.