You have finally found the house of your dreams and you want to buy it immediately without missing out, but if you do not have any money saved, then if you are wondering if you can buy the house by using a housing loan and ask, “Do I meet the requirements for taking out a housing loan?” If you think so, let’s answer your questions together.
WHO CAN GET THE HOUSING LOAN?
An adult who is a citizen of the Republic of Turkey and over the age of 18 is eligible to apply for a housing loan, but the upper age has been determined as 70 years. Being young can also increase your opportunities.
Your income must be documented. The banks from which you will obtain the housing loan ask you to show your income in a documented way. Even if you have a high income, you must document it. If you own your own business, you may be asked to show it as collateral.
Your financial history is evaluated during your Housing Loan application; If you need to open the financial history here, your credit score is created and evaluated by checking the order of your payments, whether you have a credit card or credit debt before.
You have to pay the down payment of the amount you request for the Housing Loan. The amount of collateral, which was determined as 25% in the previous period, has been reduced to 20% as of 2016. While the housing loan is calculated as 80%, the down payment amount is calculated as 20%.
The appraisal, which is accepted by the bank as an independent evaluator, is assigned to your application, the appraisal building age, rental cost, etc. It prepares a report about the house by looking at the features. This report is effective in determining the housing price.
The monthly loan installment of the Housing Loan amount you will withdraw should not exceed 50% of your documentable salary.
You must provide the documents required by the bank you will apply for a Housing Loan.
You can find out other questions you are wondering about by contacting the bank from which you will obtain a Housing Loan.