Buying a house or apartment is something extremely complicated to do in cash; Therefore, Peruvians can access a mortgage loan to achieve that goal.
Through this loan, it is possible to buy a new home, a used one or to build on land. The best thing you can do is compare the alternatives, conditions and other costs. That way, you can select the most appropriate options and finally, choose the one that best suits your profile.
The interest rate
One of the most important points to consider is the interest rate. This represents how much the credit will cost you, that is, how much the bank charges you for giving you the money.
One of the ways to get a lower rate is through the bank where you receive your salary. It is usual that if you have a salary account, you can access more benefit.
The initial fee
Each financial institution has a different policy regarding the initial fee that they will request from the client. You should take this point into account since, if the credit you choose requests to 20% down payment and you only have 10%, you must apply to another.
Something else you should know is that the exact amount will be determined taking into account the value of the property you want to buy and also its level of income.
Insurance charges
Remember that every mortgage loan is a lien insurance, in addition to insurance for the property. Commissions are also charged, depending on the bank. This can make a difference in the cost of credit.
Not only banks grant these credits, only banks and financial institutions. The best thing you can do is compare the alternatives, conditions and other costs. That way, you can select the most appropriate options and finally, choose the one that best suits your profile.
