Mortgages

You mortgage - Nowadays, the buy of a housing is probably the most important decision that we will have to take in our lives, since it is it will affect to our personal finance at least during one good number of years. It is a question of an important financial operation in which most of the times are necessary to resort to the outside financing.

The most used form is the mortgage of the housing at the time of requesting a loan, it is for it that it is known as ‘a mortgage loan’. Namely in the mortgages, in addition to the personal guarantee, there is offered like payment guarantee a ‘real guarantee’, which consists of the affectation of the housing bought like collection safety. By means of this formula, the financial institution would happen to be the proprietress of the housing if the debt was not satisfied.

The fact that the housing endorses the return of the debt, it does that the mortgages have the interests cheaper than other financing models in which less guarantees are offered. Likewise, the high quantity of the operation does that in the mortgages a few very long period manage, offering this way more payment facility. The maximum amount of the loan usually does not overcome 80 % of the value of appraisal of the building.

At present, the mortgages offer is quite wide, and the financial institutions usually use different trade names to attract the attention of his clients. Nevertheless, all of them might be summed up in four types of mortgages: fixed interest, variable interest, mixed interest and of fixed quota.