Housing loans: features, targets and guarantees

Housing loans: features, targets and guarantees

What, what are the conditions and situations in which it is granted a loan instead of building another type of mortgage. Information and news for orientation, get active and to find the right home loans.

Why "Building"

The construction loan is a type of mortgage because it is unlike any other for the construction, renovation, alteration, repair of buildings and is generally paid to construction companies that perform the work.

It is, therefore, for loans to build houses, palaces and buildings ides various kinds for which the banks can cover up, as also already do for other loans, up to 80% of the cost of construction and up to 50% of the value of "terminated".

As to the duration, then, we specify as a mute building is not comparable to a personal loan: the times are much narrower and there's usually a maximum of 15 years.

Bank Guarantees

This is the voice that unites a construction loan to any other type of mortgages: The bank guarantees are always asking el'ipoteca formula is always the safest choice because to be implemented.

The procedure, therefore, always includes the services of a notary who prepares the documents and deposit the mortgaged property or property subject to the individual work. We specify how, if the building is on loan to buy a first land, the mortgage attached to the property law also extends to the construction of which started later.

The disbursement of the loan itself, finally, is not the case in a lump sum, as with loans to help buy the house, but in instalments that go to fund the work and the purchase of materials.

The documentation required

Request a construction loan involves the submission of a specific list of documents that cover the various aspects of the work to be done. To be precise it is:

A copy of the purchase of the land (if known).

Documentation of land on the ground to be built.

Report prepared by a technical work to be done.

Plan of the costs and expected revenues.

Copy of building permit.

Certificate History Twenty Years.

Notaries Public Report.

POST COMMENT

Review of Vampire Diaries Season 2: Episode 16 The House Guest Butterfly Houses And Attraction To Gardens Choose Vinyl Siding To Get A House Looking Great How to Spice Up Your House with Contemporary Home Décor Five Finest Reasons Why a House among Livingston Homes for Sale is a Wise Move Characteristics House Buyers of Livingston Homes for Sale Should Have During Negotiations What House Buyers Should Consider When Purchasing among Lacey Homes for Sale Most Reliable Means on How to Find Your Dream House among Lacey Homes for Sale Gulf Shores Beach Houses For Rent--Property Rentals Growing in Recognition For Gulf Shores Beach Vacationers Guest houses Perth visitors are sure to enjoy Everyone can enjoy summer houses Watch Desperate Housewives Season 7 Episode 16 :: Searching Buying house, what do you have to know?