Buying a new property is one of the most important steps you may take in your life. However, it is also one of the most expensive purchases. When it comes to choosing real estate, you can always count on Prime Property Marbella. Our extensive knowledge of the local real estate market helps us present you with the finest property that suits your budget, lifestyle, and daily needs. But is there a help button in case the property that is stuck in your mind seems to be the one you can’t afford?
Fortunately, there is an option that can solve this problem and make your dream of a new house become a reality. Home loans allow you to get up to 90% of your property value to buy your dream home comfortably. As the repayment period may reach 30 years, it makes your payments affordable and helps you avoid financial stress. Let’s find out how it works:
- Save some money for a down payment. You may need to set aside about 10% of your property value.
- Decide on a property you want to purchase. Contact Prime Property Marbella to find the best offer on the local real estate market.
- Make sure you meet credit score requirements. Typically, lenders require you to have at least a good credit score to apply for a home loan. Use free services to check your credit.
- Compare various loan options. It becomes possible due to the pre-application process that usually doesn’t affect your credit score. Pay attention to interest rates, repayment terms, and loan requirements to choose the right lender.
- Apply for a home loan from a lender with the best loan terms. To support your application, you must provide the lender with all the required documents, including tax forms, proof of income, for example, pay stubs, bank statements, investments, and credit cards, as well as your employment details.
- Wait for a closing disclosure. During the loan process, the lender will check your application details and order a home appraisal.
- Make a down payment. But first, make sure the final terms meet your expectations.
- Get the keys and get ownership of your new home.
Getting the assistance you need is easier than it seems to be. Life is short. Take a step towards your new real estate with Prime Property Marbella!