Housing Loans In 5 Questions
1- What is a housing loan?
It is a loan type given by banks provided that a lien is put on the house to be purchased.
2- How to get a housing loan, who can get it?
The amount of the housing loan to be taken from the banks is determined as a certain number. This amount is calculated according to the credit rating of the person. The higher the credit rating, the higher the probability of getting a loan. People who have paid their debts to banks regularly, who have sufficient income, who are employed with a permanent job and who have high credit ratings can get housing loans.
3- How is housing loan calculated?
In the housing loan calculation, additional costs such as housing loan interest rate, TCIP payment and appraisal fee should be added to the total repayment figure.
Processing fee: It is determined by the law as 0.5% of the loan amount used.
Appraisal fee: The value of the house to be purchased is determined by a housing expert to be appointed by the bank.
4- Which documents are required to get a loan?
– Birth certificate
– Certificate of residence
– Income statement
5- In which cases housing loans cannot be used?
For a housing loan, the definition of house to be purchased must be a dwelling. Housing loans are not given for title deeds of land, shops, warehouses. If the house to be purchased is not made in compliance with laws and regulations, the housing loan cannot be withdrawn. In the report, it is important to show the housing as completed, for the use of housing loans. At least 80 percent of the construction of the house to be purchased must be completed.
