Buying a home is one of the most important decisions made throughout life, both because of the step it entails and the large outlay of money. And it is as essential to choose a good home as it is to get a mortgage with good contract conditions, something that can vary greatly depending on the client’s profile.
In fact, this issue has been addressed in the Housing Consultation carried out by iAhorro y elEconomista.eswhere two mortgage experts, Enrique Wazzan and José Paino, have answered many of the doubts that have arisen around the real estate marketthe current situation with the Euribor or mortgage conditions and the banks.
Thus, one user asked: “Are there different types of mortgage conditions depending on customer profile?? Who is the ideal or most interesting client for banking entities?” iAhorro’s mortgage expert, José Paino, was clear in his answer: yes.
Enrique Wazzan, mortgage analyst (iAhorro): “We will see a Euribor below 2% before June 2025”
Conditions according to the type of client
On the one hand, he explained that there is a type of commercial mortgages, which are those that can be found by doing a quick online search in banking entities, the most generic ones, as well as those seen in television advertisements. However, “Depending on the type of client, better conditions can be obtained.”
What does a client’s profile depend on when opting for better or worse mortgage conditions? Well, the most important thing, according to the expert, are the following points:
- The income
- The savings
- Job stability
- Request financing that does not exceed 80% of the purchase price
“With profiles of this style it is easier to negotiate with entities and get better offers”indicates the expert, alluding to the fact that a person who has a high income, savings prior to applying for the mortgage and can provide 20% of the necessary financing for their home, will have an easier situation for the bank to give them a better rate and, therefore, will pay less interest.
Because? Well, because the banking entity prefers this type of client, since it gives them greater reliability and security that they will be able to return the loan they have granted for the home and, therefore, reward this situation.
In fact, regarding job stability, there is another doubt in the Housing Clinic, related to whether or not officials have access to better mortgage conditions from banks just because they are public sector workers. The answer is yes, although everything will also depend on your economic and financial profile, beyond their job stability.
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