The New Entrepreneur’s Handbook for Buying a Home

Handbook

As an entrepreneur you know the importance of investing in assets, using a mortgage loan to buy a house is one of the best forms of investment since a property generates value over time.

In addition, it is like having future savings, because if you wanted to buy a house without a mortgage, you would have to have saved for a long time to pay it in cash.

On the other hand, with a mortgage loan is like advancing that savings that you would have to have today to be able to acquire a property.

If you are new to the business world, we will tell you how you can acquire a mortgage loan with ION Financiera to invest in your home

Step 1: get in touch

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You can do it by phone by dialing 01 800 777 92 92, one of our commercial advisers will help you solve your doubts, if you want to make a request, they can help you with the filling.

Another way to get in touch is by using the prequalifier , in this way you can know the amount that your real credit could be and how it would behave over time.

Once you have pre-qualified, a commercial advisor will contact you in order to help you understand how mortgage credit works with ION Financiera.

If you prefer, you can also send an email to contacto@ion.com.mx , or make your request online.

Step 2: meet the basic requirements to apply for a mortgage loan:

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Among the requirements you need to acquire a mortgage loan are the following:

  • Official identification: it can be your credential to vote INE or passport.
  • Proof of address: water, electricity, telephone bill, etc.
  • Have a minimum savings of 10 percent of the cost of the property for the down payment.
  • Have 8% of the value of the home to meet the notarial expenses.
  • Have your credit application.
  • Have the documentation of the checklist that I put here.

Step 3: check your income

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As an entrepreneur, you need to separate your income and expenses so that they are not housed in the same bank account.

This will help you verify your income with the financial institution and demonstrate that you are financially independent.

Likewise, you will be able to be clear that you have the solvency to face a financial responsibility such as a mortgage loan.

It is also necessary to consider your status in the credit bureau, since if you have a bad reference in your history, you will not be able to access financing on your own even when you show that you have a good income.

Among the documents that are needed to prove your income are:

  • Company charter.
  • Show that you have 51 percent of the shares.
  • Sales and purchase invoices with up to a maximum of six months.
  • Six-month-old bank statements
  • Last partial tax return

Step 4: authorization process

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Once you have gathered all the documentation, it is necessary that you deliver it so that it goes to the review committee and it can give a response as soon as possible.

Response time is approximately one week. However, it is necessary to consider that this time is relative since everything depends on you delivering everything that is asked of you.

Once the credit is authorized, the property evaluation process begins to ensure that the property is viable to serve as collateral.

Likewise, you must process the Certificate of Freedom from Lien (CLG), this document serves to verify that the house does not have a previous mortgage, that it is in a lawsuit or is facing a legal situation.

During this process, the notary’s office must check that the house is free of all encumbrances; that is, it is not in the middle of a lawsuit or is mortgaged.

Step 5: buy the house

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Once you have gone through all this process and the financial institution has granted you the mortgage loan, you can move on to the next phase, which is to buy your house.

Subsequently, the title change is made, the house remains in your name and the period that your credit lasts remains as a guarantee.

Now that you know how it works, get in touch and start the process to obtain financing and open the house you have been looking for.

If you decide, we can be the means by which you can achieve your greatest project. Start now.

 

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