When applying for a loan, many people wonder how to do it and, above all, how important is the word mortgage on the obligations that it entails.
In this case, one of the products with the greatest penetration in the mortgage loan market is the Good Finance Universal Mortgage Credit, of which we will detail the information below.
Good Finance Universal Mortgage Credit
Universal mortgage credit is exclusively for housing purposes, that is, exclusively to acquire, build, expand or repair homes or refinance existing mortgage loans that have the same objective. It is important to note that the rate is fixed for the entire period of credit duration.
When we think about requesting a loan, the money will be used for different purposes, and they vary according to the needs:
- It can be for the purchase of a home, and in this case, it is called Home Mortgage Credit
- It can be a general-purpose mortgage loan, that is, a credit for the purposes that the client decides, no matter what it is.
- Or a self-construction mortgage loan, where the credit granted to the client, is intended to build your property.
The Universal Credit of the Good Finance encompasses all possible destinations that have to do with housing. It is not of free destiny, but almost.
Characteristics of the Good Finance Universal Mortgage Credit
The Good Finance Universal Mortgage Credit is a Universal Fixed Mutual Rate for individuals, with the following characteristics:
- First dividend at 30 days or the first 10 days of the subsequent month of the signing of the deed.
- Term: 15, 20, 25 and 30 years, notwithstanding that it can be paid in advance according to what is established between the parties or in the law N ° 18.010.
- Amounts: between UF 1,000 and UF 5,000.
- Exclusive to destination Housing: Exclusively acquire, build, expand or repair homes or refinance existing mortgage loans that have the same objective.
- Fixed-rate for the entire period of credit duration.
In general, the requirements to apply for a mortgage loan are the following:
- The affiliate must have thirty-six (36) contributions.
- Have 12 last consecutive contributions.
- If you are a legal representative of a company you should not have outstanding obligations.
- Be within the required age limit (75 years)
- Not having a mortgage loan with the IESS or Bies in MORA.
Costs and Expenses of the Good Finance Universal Mortgage Credit
We must not only differentiate the purposes of the application for a mortgage loan, but also take into account the costs, and the main cost of these loans is the interest rate, which can be fixed, variable or mixed. The main costs of these mortgage loans are:
- Appraisal expenses: it is the associated expense for appraising the property and thus setting its value to obtain the credit (approximate cost from UF 2.5 for housing in Santiago).
- Study of Titles and Writing of Deeds: the Bank studies the titles associated with the property and writes the deed through its lawyers (approximate cost of UF 4.0 to UF 5.5).
- Notarial Expenses: they are paid at the time of the signing of the deed in the Notary (reference value of the approximate cost in Notary of Santiago from UF 3.2. This may vary depending on the location where the notary is where you sign a client).
- Stamp and stamp taxes: This tax is calculated on the Effective Loan, according to the current legal rate.
- Registration in the Conservator of Real Estate (CBR): once the deed is signed the property must be registered in the Conservator of Real Estate. The approximate reference value in the CBR of Santiago is 0.5% to 0.8% of the tax appraisal or the sale price of the property.