Normally, the process of calculating the mortgage loan proceeds as follows: The expert is sent to the house you want to buy and the house is requested to be examined. After completing the examinations, the assessor appraises according to the quality of the house and the market price conditions.
The Bank lends 75 percent or 80 percent of the determined value according to its working policy. However, if you do not have any money for the remaining 20% - 25%, you can take advantage of the whole house loan products.
How to withdraw credit to the whole house?
There are 5 different methods you can use to get credit for the whole house .
- The first is to apply directly to financial institutions that allow you to use credit for the entire home.
- Latter; The appraiser of the house is to use a 100 percent mortgage loan for the house you want to buy, showing high value.
- The third method is that you can withdraw a general-purpose loan for a portion of 20% -25% that is not covered by the housing loan.
- Alternatively, if you have a second real estate registered in your name, you can take out mortgaged loans by having them mortgaged.
- Finally, if you do not have another real estate and have not been able to use a down payment loan, you can apply for vehicle mortgage loans.
It is seen that the mortgage condition of the applicant, one of his family members or a third party is sought in general.
In addition, within the terms of obtaining loans to the entire house, depending on the consumer’s credit record, it can be requested in the guarantor or additional collateral. You can learn from the sub-headings which conditions are required by banks according to their lending policies.
Banks Lending the Whole House
Many private banks and public financial institutions operating in our country give housing loans without demanding any down payment. Therefore, even if you do not have any savings in the hands of the house by applying to the banks that can give credit to the whole house .
Moreover, thanks to long-term payments, you can pay back your financing as if you were paying rent without squeezing your monthly budget. To do this, you can apply to private or state banks that provide loans to the whole house .