The long-awaited conquest of home ownership, be it a furnished apartment or a gated community, is a wish that involves a large portion of the Brazilian population, especially those who spend years managing to raise money to achieve it. But today real estate has been so high that it has been almost impossible to make cash payment. Therefore, the most viable alternative is financing, usually through a loan, which will then be returned to the bank. The use of the Real Estate Attorney Israel comes perfect here now.
However, when the bank lends funds to finance your property, it also imposes some contractual restrictions, which prohibit you, for example, from renting the property for rent while the debt has not yet been paid off. In addition, funding requires a number of requirements and steps to be done right and not give you a headache later.
Are you thinking of taking this step in your life? Learn more about financing and follow practical tips for buying a property and buying the dream home.
The first step
Before you go to any stage of a loan, you need to know how much you can afford to spend by pre-checking the amount that will be earmarked monthly for the investment so as not to sacrifice your family’s comfort by thinking of integrated living spaces, kitchen size, laundry, from your living room, some rest and entertainment area, and especially your bedroom and your children’s room. Once you know exactly what value fits in your pocket, you should go for the finance simulations.
In fact, if the most beneficial simulation for you is that of the bank in which you already have an account, the credit approval process will be even easier, since the institution has been registering for a long time and is already making all its financial transactions. But, it is worth repeating, never be restricted to this, because other banks, despite demanding all the bureaucracy and registration process, can offer you better conditions and benefits in the long run.
Always look for the institution that serves what is important to you, such as: property value, number of installments, entry value, etc. But remember: regardless of your choice, you’ll need to prove that you can afford the installments to get out of rent and move on to buying a new or used property banks usually don’t approve you if the value of the installments is higher than 30% of your income.
Required Documentation and Proof of Income
At this stage, you must present copies of the CPF and RG to the bank, along with the originals. Remembering that if there is a stable union or a marriage registered in the notary’s office, the consent of the partner is necessary, because the purchase may be declared void in the future if there is dispute or any other problem.
Therefore, both need to present their pay stubs and proof of marital status. If they are self-employed, it is important to submit bank statements to show the account movement as well as the couple’s income tax return.
If you wish to fund with a bank you do not have an account with, you will have to go through the entire registration process with the manager, who will inform you of all the documentation required to follow the steps and then approve the funding. Try to demonstrate where your family income comes from, whether through pay stubs, bank statements, income tax return, service contracts, etc.