Mortgage Application: how to apply for a mortgage and the steps to follow

The request for a loan and the subsequent disbursement of the same is linked to various parameters that allow banks or financial institutions to evaluate the feasibility of the transaction and the amortization plan:

The mortgage application

mortgage application

The request for a bank or financial loan is the first step in obtaining the sum you need for the purchase or renovation of a property.

The feasibility opinion
Once a loan request has been submitted, the bank or finance company will evaluate the same according to the following parameters:
– The income of those requesting funding.
– The value of the property.
– The payment guarantees presented.

Presentation of the required documentation
Once a positive opinion has been obtained, it is necessary to provide the financial company with all the documentation for the verification of what is indicated in the loan application.

The financing resolution

financing resolution

Once the various investigations have been carried out on the documentation provided, the bank or the financial company will start the financing by setting the date for the stipulation of the contract.

The contract
The loan is stipulated with the financial company or the bank in the presence of a notary, and must be drawn up by public deed.
The object of the same is a financing by the financing institution towards the customer who undertakes to return it according to a predetermined amortization plan.
Generally, together with the loan counterparty, the mortgage is set up in favor of the lender on the real estate unit of the loan.