If you are going to buy a house and finally fulfill your dream, stop your own property, you need to understand that it is not enough to get mortgage credit; and have the keys. This type of responsibility and contract goes further, and includes a variety of expenses, which you have to bear in mind. Since I do not want this to surprise you and make you have an unpleasant moment, it is that in the following information I want to show you what the expenses of a mortgage loan are.
Starting the mortgage loan process
It is important that you understand the stages that precede these expenses. The first thing is that you can have a saved amount of money, this will help you with the initial payment of the loan to buy a house. Then, what we recommend is that you can visit at least 3 financial institutions to analyze which is the most convenient for you.
The third step is that you present all the documents that the bank is going to request and with which your credit will be approved. After your mortgage has been accepted, you will have to invest money in extra expenses such as those that we will review below.
Know the extra expenses of a mortgage loan
Precisely for these extra expenses, is that you have to keep yourself well informed. Many Peruvians, including us, when the time comes to receive the good news of the approval of the home loan, they are surprised because they have to spend money on the following:
- Notary and Public Records: you should know that the notary has a fixed charge. Instead, the Public Registry will request a percentage of the value of the business and the mortgage. You have to take this money to the notary, the day you sign your deed.
- Tax: this payment is equal to the value of Financial Transactions.
- Alcabala tax: this will only have to be paid if the house has been sold a second time.
- Official appraisal cost: it is a fixed value charged by the bank.
- Bond letter: corresponds to a percentage of the requested credit value.
In summary, it is best to be aware of all this so that you and your pocket are not surprised or affected.