It is essential to find the perfect combination of interest rate and the period within which the operation can be managed properly. Check out Jim Crane for additional information. A quarter-point interest rate has no great impact on the share but the difference between ten or twenty years may find that you agree or not to loan or to request a greater or lesser amount. “IS THE BEST CUL loans? There are no magic formulas or valid for the entire world, according to the Spanish Mortgage Association. The best loan is best suited to their abilities and that requires consider all factors involved in the operation: the amount you need, interest rate, term, payment capacity, etc. Search and compare. Although the entity shall make a personalized study of your situation to inform you on what best fits your needs, it is you who must make the decision. There are several types COMMISSIONS: Open: includes research costs and processing the loan. Early repayment: Payments are the extras that the customer decides to allocate to reduce the loan, either by reducing the amount paid each month or period of operation.
Two types: full cancellation and write-down. APR The Annual Percentage Rate is the result of a mathematical formula that incorporates the nominal interest rate, fees and timing of the operation. Let us know what would be the actual cost or actual operation if interest rates prevailing at the time of the formal credit remain unchanged throughout the life of himself, which usually does not. The fixed rate is more useful and valid. Costs associated with the OPERACIN-Pricing-Register-Notary-Gestoria-TAX-Bank charges Value Added Tax (VAT) (in homes first hand and it is 7%), Property Transfer Tax (second hand is 6 %)-Documentary Stamp Tax (between 1.5% and 2% of the loan amount) This is a first approach to everything we have to know when buying a home through a mortgage loan. But if you have any questions contact your financial institution to resolve it. Likewise if in the process, or behind, you have a complaint, you can also go to the Institute national consumption.