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Mortgage loan: what documentation must be presented to apply for it? - La Nacion Propiedades
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www.lanacion.com.ar
June 13, 2024
Access to mortgage credit is an alternative for those who want to buy a house but do not have the dollars; having the necessary documentation is essential to access the loan and speed up the approval process.
By Candela Contreras
Mortgage loans: there are already 16 banks that offer their loan lines to buy a home and the documentation to present is keyIndypendenz - Shutterstock
Applying for a mortgage loan to buy a home is one of the most difficult decisions a person makes in their financial life . Therefore, the return of UVA loans to Argentina, led by 16 banks, aroused the interest of many who dream of accessing their own home . “From the first announcement of a mortgage loan, enormous expectations were aroused within the market and among those interested in being able to access a home,” said José Rozados, director of Reporte Inmobiliario, hopefully within the framework of the seminar held by the College of Notaries of the city of Buenos Aires .
The new mortgage credit cycle not only appears as a viable option to take into account to deal with rent, but it also has its opportunities and weaknesses. “ It is very important that the communication between the parties is very didactic and very clear , from all sectors (banks, notaries, real estate channel). Furthermore, not every property is suitable for credit, because if the seller is not willing to do so, he will be left out ,” explains Rozados.
The great challenge in this context is that the process is efficient and without delays. Therefore, “one of the fundamental items is simultaneity: it is very important that the notary be present from the beginning of the credit application in that act ,” said the president of the city's College of Notaries, Jorge De Bartolo. And he added that “when mortgage loans begin, everything automatically accelerates. We are preparing for a notable increase in the number of writes .”
Mortgage loans emerge as an alternative to rentingGBJSTOCK - Shutterstock
“ Mortgage credit creates a market , because there are areas that are out of the market today, with signs that are rusting. The people who are willing to live there do not have the dollars under their mattress to buy the property, but if they can qualify to pay a fee, they will be able to do so,” said Rozados. Therefore, if you are thinking about applying for a mortgage loan , it is advisable to eliminate all doubts about what documentation is needed to avoid problems and speed up the process .
In all cases, you must not register unfavorable records in reporting agencies or in the Central Bank of the Argentine Republic during the last 12 months.
In principle, all properties are suitable for credit, at most the owner decides that it is not.Freepik
In this way, property owners who decide to offer their property for sale under the condition of suitable credit must have the title of property, without having an embargo or other precautionary measures on the property (for example, a pending lawsuit). ; nor restrictions on the domain recorded in the Real Estate Registry of the jurisdiction (such as being subject to expropriation) or personal inhibitions (of the owner).
In addition, the property plans must be approved and, if subject to the condominium regime, have the current ownership and administration regulations.
In the event that the owner is married and the property is marital or his own, but with a record of the marital home and with minor children, he must have marital consent. Similar requirements apply in the case of cohabiting unions.
In this process, Enrique Luis Abatti (h), owner of the Abatti & Rocca Abogados Law Firm , lists the obstacles that may arise to be able to freely dispose of the property and how to resolve them :
“ All this is found out through a request for domain reports and another for inhibitions , which should be managed when a property is offered for sale. In this way, surprises are avoided when starting the paperwork to deed, since judicial procedures can generate long delays, and even frustrate the possibility of sale,” adds Abatti.
With the appraisal presented by the appraiser, the bank can now approve the credit and the amount of money to be loaned . Then a notary is assigned who will carry out the mortgage.
www.buysellba.com
Source:
Crédito hipotecario: ¿qué documentación hay que presentar para solicitarlo?
El acceso al crédito hipotecario es una alternativa para quienes quieren comprar su casa pero no cuentan con los dólares; tener la documentación necesaria es indispensable para acceder al préstamo y acelerar el proceso de aprobación
www.lanacion.com.ar
June 13, 2024
Access to mortgage credit is an alternative for those who want to buy a house but do not have the dollars; having the necessary documentation is essential to access the loan and speed up the approval process.
By Candela Contreras
Mortgage loans: there are already 16 banks that offer their loan lines to buy a home and the documentation to present is keyIndypendenz - Shutterstock
Applying for a mortgage loan to buy a home is one of the most difficult decisions a person makes in their financial life . Therefore, the return of UVA loans to Argentina, led by 16 banks, aroused the interest of many who dream of accessing their own home . “From the first announcement of a mortgage loan, enormous expectations were aroused within the market and among those interested in being able to access a home,” said José Rozados, director of Reporte Inmobiliario, hopefully within the framework of the seminar held by the College of Notaries of the city of Buenos Aires .
The new mortgage credit cycle not only appears as a viable option to take into account to deal with rent, but it also has its opportunities and weaknesses. “ It is very important that the communication between the parties is very didactic and very clear , from all sectors (banks, notaries, real estate channel). Furthermore, not every property is suitable for credit, because if the seller is not willing to do so, he will be left out ,” explains Rozados.
The great challenge in this context is that the process is efficient and without delays. Therefore, “one of the fundamental items is simultaneity: it is very important that the notary be present from the beginning of the credit application in that act ,” said the president of the city's College of Notaries, Jorge De Bartolo. And he added that “when mortgage loans begin, everything automatically accelerates. We are preparing for a notable increase in the number of writes .”
Mortgage loans emerge as an alternative to rentingGBJSTOCK - Shutterstock
“ Mortgage credit creates a market , because there are areas that are out of the market today, with signs that are rusting. The people who are willing to live there do not have the dollars under their mattress to buy the property, but if they can qualify to pay a fee, they will be able to do so,” said Rozados. Therefore, if you are thinking about applying for a mortgage loan , it is advisable to eliminate all doubts about what documentation is needed to avoid problems and speed up the process .
Mortgage loans: what documentation do I need to access
On the buyer's side
The essential documents to be presented by the buyer, who must be solvent, that is, they can prove their income and have a credit history, are:- The National Identity Document (DNI)
- A bill for a service or tax in your name to verify address
- Dependency Relationship and Retirees: the last receipt of salary/assets (in case of not accrediting salary/assets in the Bank)
- Self-employed: certification of Net Income (net profit) issued by a public accountant with a signature certified by the Professional Council of Economic Sciences for the last 12 months.
- Monotributista: last three or six (depending on the bank) proof of payment of the monotribute.
In all cases, you must not register unfavorable records in reporting agencies or in the Central Bank of the Argentine Republic during the last 12 months.
In principle, all properties are suitable for credit, at most the owner decides that it is not.Freepik
On the seller's side
For its part, according to what was provided by notaries, the owner must present the following instruments to the bank , so that the buyer can manage the credit:- Photocopy of deed of ownership (title of ownership)
- A municipal plan in the case of the province of Buenos Aires and, for properties in CABA, the horizontal property plan and the ownership and administration regulations. In addition, if it exists, the internal and subdivision plan of the approved property (technical document that shows how a real estate property is divided into different plots or lots).
- Ad referendum reserve instrument (subject to approval) for granting credit, with the following data : name, surname, ID, address, telephone number and e-mail of the buyer; name, surname, ID, telephone number and email of the seller.
- Property information : street, number, floor, apartment, functional unit number (according to the subdivision plan and horizontal property regulations), complementary unit number (such as, for example, the garage or storage room), place of residence. location.
- Value of the property , which will then be appraised by the bank.
What must a property have to be eligible for credit?
In principle, all properties are suitable for credit , but there are exceptions, such as the owner deciding that it is not , there being problems with the title if it comes from a donation, a property that is still in the succession process or that is seized.In this way, property owners who decide to offer their property for sale under the condition of suitable credit must have the title of property, without having an embargo or other precautionary measures on the property (for example, a pending lawsuit). ; nor restrictions on the domain recorded in the Real Estate Registry of the jurisdiction (such as being subject to expropriation) or personal inhibitions (of the owner).
In addition, the property plans must be approved and, if subject to the condominium regime, have the current ownership and administration regulations.
In the event that the owner is married and the property is marital or his own, but with a record of the marital home and with minor children, he must have marital consent. Similar requirements apply in the case of cohabiting unions.
In this process, Enrique Luis Abatti (h), owner of the Abatti & Rocca Abogados Law Firm , lists the obstacles that may arise to be able to freely dispose of the property and how to resolve them :
- Existence of a mortgage : it must be raised and registered.
- An embargo that encumbers the property : must also be lifted. This requires a judicial procedure before the court that decreed the measure, which involves paying the debt that originated said seizure.
- The seller is inhibited : he must cancel the existing debt.
- The property has a usufruct in favor of a third party : in this case, it is necessary to manage the renunciation of that usufruct by the beneficiary.
- The property is in succession: the assets that enter a succession can only be sold once all the steps of the same are completed.
- If there are problems with the donation: in the event that the donation is revoked for some reason, the sale falls. If the problem is an inconvenience in the process, you must wait for it to be resolved.
“ All this is found out through a request for domain reports and another for inhibitions , which should be managed when a property is offered for sale. In this way, surprises are avoided when starting the paperwork to deed, since judicial procedures can generate long delays, and even frustrate the possibility of sale,” adds Abatti.
With the appraisal presented by the appraiser, the bank can now approve the credit and the amount of money to be loaned . Then a notary is assigned who will carry out the mortgage.
www.buysellba.com
