How to obtain a mortgage
How to get a mortgage
Buying one's dream home is a significant step in many people's lives and financial support from the bank is often essential to realise this goal. However, before you can apply for a mortgage for your first home, you must fulfil several legal and financial requirements, including:
- Having a certain type of income
- Calculate the down payment possibility and mortgage amount
- Not having overdue financing or having a guarantor.
What income do you need to have to obtain a mortgage? There is no precise figure that guarantees the approval of a mortgage. The amount needed as security from the bank may vary depending on the individual application.
Among the requirements for buying a house with an affordable mortgage it is essential to have sufficient liquidity to cover at least 20% of the mortgage value of the property, as the bank usually does not grant more than 80%. In addition, the bank stipulates that the mortgage instalment must not exceed 1/3 of one's monthly income. There are also 100% mortgages on the market, but you have to meet specific requirements that the financial institution assesses individually.
What documents must be presented to the bank to obtain a mortgage? Each lending institution follows specific procedures, but in general the documents required to apply for a mortgage include:
- Identity documents
- Marital status certificate or extract from the marriage certificate, complete with all annotations
- Income documents (730, CUD, Unico)
- Copy of the "purchase proposal" or "preliminary purchase and sale agreement".
- Planimetry showing neighbouring properties both of the property and of any appurtenances (cellar, attic, garage)
- Copy of the habitability certificate
- Copy of the last deed of purchase of the property
- Other documents relating to the property requested by the surveyor.
Studio Lentini, thanks also to the support of our credit advisors, is at your disposal to assist you in this important step and allow you to reach your goal with the best result.
Call and schedule a free consultation.