Application - Step 4

Banks issue loans on the basis of three principal indicators:

1. A personal assessment
2. Mortgaged property assessment
3. Assessment of your financial position

The interest rate operated by the bank depends on:
- The ratio between the value under foreclosure and the amount of the mortgage loan. The maximum amount is related to the value under foreclosure of the home. The interest margin required by the bank to cover the risk increases in keeping with the percentage of that ratio.
- The period for which the interest rate is fixed. The interest margin charged by the bank increases in keeping with the length of the fixed interest period.
- Does the National Mortgage Guarantee apply yes/no.