A bank's feasibility study for granting a mortgage. We explain what a bank's feasibility study for granting a mortgage to a client involves. Don't waste time going from bank to bank: read our article first and save yourself the hassle.
If you want to know whether you can get a mortgage and on what terms, request free financial advice and we'll quickly assist you personally by phone.
Our advisors will tell you everything and give you the keys to getting a mortgage.
What does the feasibility study involve?
It involves drawing up a client profile to see whether they meet the minimum requirements to get a mortgage.
Everyone has different personal and employment circumstances, and it's important to know whether or not we're eligible for a mortgage.
This way we save time by not viewing homes beyond our means, or even finding out too late that we don't meet the requirements for financing.
Although in most cases there are always ways to get a mortgage to suit the client's needs, one bank may turn you down while another approves you.
In the end, what matters is getting a mortgage on good terms where the repayment doesn't exceed 35% of your monthly income.
Valoracasa Feasibility Study
With our financial advice, we draw up a profile of our client and then carry out a feasibility study. We want to make sure you can get a mortgage.
Then we'll see whether the mortgage suits your needs, how we can get a mortgage that works for you, the mortgage terms, the monthly payment and all the general information you need.
It's important to know your strengths and weaknesses when applying for a mortgage and to negotiate with each bank to get the best terms.
We negotiate directly with each lender and offer you several mortgage options to choose from.
FREE FINANCIAL ADVICE
How does the bank carry out the feasibility study?
- It checks the client's employment situation and type of contract
- Income, expenses and debts
- Personal and family situation
- Deposit required
- Borrowing capacity
- Existing seizures
- Bank transactions
To check all this, the bank asks the client for a series of documents and carries out the study. In most cases, mortgages are not assessed at the bank branch.
All the documents are sent to analysts in the lender's mortgage department and go through a series of checks. They may ask for more documents if anything is unclear or missing. This process can take days and makes clients very anxious.
Some lenders take care to update the client daily, while others don't, and the anxiety grows.
Our advisors submit the mortgage to several lenders that have been screened beforehand to ensure fast, effective results.
There's no point submitting the mortgage to a bank we know in advance doesn't have the type of mortgage we need or has requirements that are too strict.
Once the mortgage has been submitted to the banks, you have to negotiate the terms with each one to improve the initial offer and get a mortgage that's as tailored as possible.
Our advisors do all the work of screening banks, submitting mortgages and negotiating terms on your behalf, saving you time and money.
Juan Rosado
CEO
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