How to choose the best mortgage for young people?, by Central Hipotecaria

Buying a home is a purpose that many people consider when they are young, however, to achieve this goal it is necessary to have a stable economic situation that allows them to pay for the large expenses that they will have to face.

In this sense, mortgages for young people have become a highly demanded financing option, due to their lower prices and higher financing percentages. To this end, the Central Hipotecaria financial intermediation company is in charge of advising its clients throughout the mortgage application process, with the best market conditions.

Are there mortgages for young people?

After the latest financial and health crises, access to credit by young people has been compromised due to problems saving the previous amount of money that the bank cannot finance, since mortgages do not cover the entire price of the House.

However, a new financing alternative is beginning to be chosen by young people, mainly in large cities, with different entities that offer repayment terms of up to 40 years and financing percentages that can exceed 80%, in some cases reaching 100% plus expenses.

In turn, they have low interest rates in relation to the market and a mortgage payment that does not exceed 35% of the average income of the clients. Now, according to experts, These products are part of a campaign marketing to capture customers and offer them other products, in order to keep them connected for the next 20 or 30 years. Consequently, it is necessary to consider certain factors to determine if the loan has a good credit quality and advantageous conditions that fit the profile of the buyers.

Get a mortgage with the best conditions with Central Hipotecaria

Among the aspects that young people should take into account when taking out a mortgage are the Nominal Interest Rate (TIN), the Annual Equivalent Rate (APR), as well as the presence of linked products and the conditions they offer. Likewise, it is essential to consider, in the event that the entity requires a guarantee, the number of years and the amount with which said guarantor would have to appear for the home, in addition to Thoroughly review the fine print.

In this aspect, the team of professionals at Central Hipotecaria is in charge of analyzing the economic profile of the clients to offer them the mortgage operation that best suits their needs, negotiating the operation with the bank to obtain approval and obtain the best offer. .