Making the best decision when buying a home is only possible when you have the tools that make it possible at your fingertips.
A credit prequalifier is a tool that allows you to know a very approximate scenario of the financing line that you can obtain with a financial institution.
For this, it is necessary that you enter personal information such as your name, property price, period in which you plan to buy your house, how much is your monthly income, etc.
With these data the financier can get to know you a little better.
By doing a quick analysis of your profile, the credit prequalifier gives a preliminary result; This result is the amount of financing that can be granted to you.
It also shows you how much you are going to pay and for how long, that is, the monthly payments and the term to pay off the credit.
This information helps you evaluate your chances of not undercapitalizing or knowing if it is possible to ask for more financing.
However, it is necessary to emphasize that this is only a preliminary result. To be as approximate as possible it is important that your data is correct.
It is also essential that you provide other information such as your job, income, RFC and permission to review your history in the credit bureau, the reason? …
The prequalifier in addition to helping you estimate your credit also pre-authorizes it and for them it is necessary that your data is correct.
Otherwise, the result will never come close to what you hope to obtain from the financing of the entity in which you are prequalifying yourself.
People are often not honest when entering their information and the result can vary too much at the time of credit approval.
Why is data important?
The credit prequalifier works from the data you enter, and with it can do a preliminary analysis on your profile.
For the prequalifier result to be effective, you must be honest with the data you enter.
In this way, the analysis of the tool will allow you to know if you can obtain a mortgage loan and under what conditions.
Do not be afraid of registration, entities such as ION Financiera are regulated by institutions such as the National Banking and Securities Commission (CNBV) and the Condusef.
To start using the ION Financiera prequalifier, you need to have on hand:
-Credit information so that a credit analysis can be done (this is because it is necessary to have a minimum score of 500 points in the Credit Bureau)
-Data about your work and income
At the end of your registration, the prequalifier will give you the preliminary result. One of the advantages with the ION Financiera prequalifier is that after being prequalified, an advisor contacts you.
The objective is to provide you with advice and, if you wish, make your request, the same advisor can help you with the filling.
During the call, the commercial advisor will conduct a survey where he will address the following points:
-The amount you need to acquire your house or apartment
-The cost of the property you wish to acquire
-If the house is within the coverage of ION Financiera
-If you have savings to cover additional expenses for credit.
-Your status in the Credit Bureau
This is because the financial institution must make an evaluation of your profile as a contractor of a loan and make sure that you are a person with the stability to face a mortgage loan.
It is important that you take into account that to have access to a mortgage loan you must be financially stable.
It is also necessary to have savings to cover initial expenses such as notaries, evaluation and down payment.
The next step will be to move on to the mortgage credit checking stage.
You can find out the complete process in the Definitive Guide to obtain a Home Purchase Mortgage loan. What you can download here .. (put a download button)
As you may have noticed, the prequalifier is a very useful tool to know all the characteristics of a mortgage loan.
Live the experience of buying a house starting by prequalifying yourself to see if you have the profile to have access to financing.
Use the ION Financiera prequalifier and discover how much financing you can get and live the experience of buying your home.