Most of you will, at some point in their life, face the difficult choice of a mortgage loan; well, such a task can become arduous, due to which, today, are quite a few modalities mortgage that we can find in the market: from the traditional fixed-rate mortgages or variable, to other less well-known as the Reverse Mortgage or the Mortgage of a Qualified, not because of it less interesting.
Mortgage fixed interest rate
Is one mortgage loan in which the interest rate does not vary throughout the life of the loan.
Mortgage variable interest rate
It is based on mortgage loans in which the interest rate fluctuates according to a reference rate, usually the euribor.
It is based on mortgage loans in which the interest rate fluctuates according to a reference rate, usually the euribor.
Rate mortgage mixed
During an agreed period of time, usually at the start, the interest rate would be fixed rate and the remaining term of the variable rate type.
Mortgages Fixed Fee
In this type of Mortgage is set a monthly fee that would remain unchanged throughout the life of the loan; the interest would be fixed and calculated in the same way that in an adjustable-rate Mortgage but as the fees are fixed and the interest rate is variable, the final deadline would vary in function of fluctuations of the type, in such a way that it would increase if the rate were to increase or shortening in the case of a reduction.
In this type of Mortgage is set a monthly fee that would remain unchanged throughout the life of the loan; the interest would be fixed and calculated in the same way that in an adjustable-rate Mortgage but as the fees are fixed and the interest rate is variable, the final deadline would vary in function of fluctuations of the type, in such a way that it would increase if the rate were to increase or shortening in the case of a reduction.
Reverse mortgage
Also called pension mortgage, is a type of mortgage, specially designed for those homeowners over 65 years of age or listed as dependents, which allows them to perceive an income, the amount of which will depend on the appraisal of the property, the age of the applicant and of the mode in which to carry out the provisions, periodically or in the form of a single subscription, without losing the ownership of the well.
Also called pension mortgage, is a type of mortgage, specially designed for those homeowners over 65 years of age or listed as dependents, which allows them to perceive an income, the amount of which will depend on the appraisal of the property, the age of the applicant and of the mode in which to carry out the provisions, periodically or in the form of a single subscription, without losing the ownership of the well.
After the death of the mortgagor, the heirs should pay off the mortgage with the credit institution, either by satisfying the totality of the amounts due, plus interest, or letting the bank foreclose.
Mortgage qualified
Is that mortgage loan agreed to by convention among the Ministry of Housing and Financial Institutions and offers conditions that are advantageous to your beneficiary that may affect the type of interest applied, the period of amortization, commissions, etc
Is that mortgage loan agreed to by convention among the Ministry of Housing and Financial Institutions and offers conditions that are advantageous to your beneficiary that may affect the type of interest applied, the period of amortization, commissions, etc
Mortgage subrogation
Is one mortgage that allows you to change our home loan from one entity to another, in order to obtain an improvement in the terms of the loan, without having to cancel and formalize a new one.
Is one mortgage that allows you to change our home loan from one entity to another, in order to obtain an improvement in the terms of the loan, without having to cancel and formalize a new one.
Flexible mortgage
Is one modality that allows you to choose certain conditions, for example, a particular exclusion period, the interest to be a mixed type, a certain term or amount of the mortgage, etc
Is one modality that allows you to choose certain conditions, for example, a particular exclusion period, the interest to be a mixed type, a certain term or amount of the mortgage, etc
Mortgage deficiency
Usually designed for young people, allows you to pay only interest, no repay nothing of capital, during a certain period of time. Normally, the deficiency is usually established during the first years of the loan, but there are modes that even allow you to distribute it throughout the life of the same or as suits to the borrower.
Usually designed for young people, allows you to pay only interest, no repay nothing of capital, during a certain period of time. Normally, the deficiency is usually established during the first years of the loan, but there are modes that even allow you to distribute it throughout the life of the same or as suits to the borrower.
Multicurrency mortgage
The multicurrency mortgage subscribes in various currencies in order to take advantage of the low interest rates in other markets, but in which also we are to assume the risk of exchange rate fluctuations or conditions worsen with respect to a traditional mortgage.
The multicurrency mortgage subscribes in various currencies in order to take advantage of the low interest rates in other markets, but in which also we are to assume the risk of exchange rate fluctuations or conditions worsen with respect to a traditional mortgage.
Mortgage bridge
It is that which is requested when you want to purchase a new home off-plan and have another home on the property. In this way, mortgage the estate in the property, and we had a period of approximately one year to sell it and to be able to restructure our situation with the mortgage loan you need to finally.
It is that which is requested when you want to purchase a new home off-plan and have another home on the property. In this way, mortgage the estate in the property, and we had a period of approximately one year to sell it and to be able to restructure our situation with the mortgage loan you need to finally.
Mortgage self
It is a type of mortgage that subscribes himself when borrower acts as a promoter of your home. During the construction of the building, would be delivering the loan amount in several provisions, as they are bidding for the works, in such a way that, during this period, only pay interest, and these correspond to the money that has been provided.
It is a type of mortgage that subscribes himself when borrower acts as a promoter of your home. During the construction of the building, would be delivering the loan amount in several provisions, as they are bidding for the works, in such a way that, during this period, only pay interest, and these correspond to the money that has been provided.
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