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How to access credit to buy an apartment step by step - La Nacion Propiedades
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Cómo acceder a un crédito para comprar un departamento paso por paso
Solicitar un crédito hipotecario requiere de una planificación adecuada y de seguir una serie de pasos que garanticen una operación segura
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March 21, 2025
Applying for a mortgage loan requires proper planning and following a series of steps to ensure a safe transaction.
With the right strategy, the dream of owning a home can become a reality.fizkes - Shutterstock
Buying a home is one of the most important financial decisions in a person's life . Therefore, with the return of UVA mortgage loans at the end of April 2024, the possibility has opened up for more and more people to access their own homes.
But before deciding to take out a loan , it's key to understand the process for accessing this type of financing and avoid setbacks when purchasing a property. Below, we detail the step-by-step process for applying for and obtaining a mortgage loan in Argentina.
1. Evaluate eligibility for the loan
The first key step is to analyze the applicant's debt capacity and financial situation . It's recommended that those wishing to purchase a home first secure a loan and, at the same time, begin searching for properties.To do this, it's essential to compare different banks , evaluating interest rates , repayment terms , cancellation costs , and the maximum financing amount . However, experts suggest applying for the loan with the bank where the client is already a user , as this can facilitate approval and obtain better terms.
The most important thing before taking out a loan is to evaluate the applicant's credit situationSuperOhMo - Shutterstock
2. Request credit prequalification
The next step is to approach your chosen bank to begin the credit evaluation process . In most cases, this can be done through the bank's website, where information such as:- Total income
- Seniority
- If the salary is collected at the entity
- Estimated property value
The bank will evaluate the applicant's ability to pay and determine the loan amount they can qualify for .
3. Have the initial savings
Banks typically finance around 75% of the property's total value, so the buyer must have at least 25% of the property's value to complete the transaction.It is important to evaluate the family's overall financial situation , considering job stability, savings capacity, and the ultimate goal of the purchase.
4. Find a property suitable for a mortgage loan
Once the bank has prequalified the buyer for a loan, they must look for a property that is "credit-friendly ," meaning one that meets the lender's requirements. The home should be chosen within their available budget to avoid any inconveniences.It is recommended that any reservation of the property be made "ad referendum" of the final approval of the credit, which protects the buyer in case the financing is not approved .
The buyer should look for a property that is “credit-friendly”JJ-stockstudio - Shutterstock
5. Formalize the operation
Once you have selected your property and bank approval, you must contact a licensed real estate agent to move forward with the purchase . You will then submit the required documentation to the bank, which will conduct the final appraisal and approve the transaction.6. Appointment of a notary and signing of the deed
Once the loan is approved , the bank will designate a notary public to formalize the mortgage. However, the buyer can choose another notary public of their choice. The notary public will verify the property titles and background checks to confirm that everything is in order.Finally, a date will be set for the signing of the deed . At that time, the bank will disburse the loan in pesos , so the buyer must convert them to Mexican pesos (MEP dollars), since properties in Argentina are sold in that currency.
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