Who Can Get a Housing Loan?
One of the preferred methods when purchasing real estate is to take a housing loan from the bank. Banks applied for a home loan make evaluations about people who want to buy real estate according to some criteria:
- credit rating
- The ability of the person applying for the loan to pay the loan down payment
- Being between the ages of 18-70
- Financial background
In the financial background evaluation; The income of the person who wants to get a loan, whether he has a credit card or loan debt from the past, regular deposits of invoices and bank payments, and enforcement due to unpaid debt are examined. Financial history also affects credit score.
The credit rating, which is determined by analyzing the financial history, can be a number between 1 and 1900. The loan amount that can be given depending on the credit rating; It may vary depending on the banks, the amount to be borrowed and the income of the person. To learn the credit rating, you can apply online via e-government, from the “Banks Association of Turkey – Risk Center Report” page. To apply for a housing loan, sahibinden.com Loan Offers service can be used.
How is Credit Score Calculated?
According to Findeks data, the factors and rates taken into account when calculating the credit rating are as follows:
- Credit Product Payment Habits 35%
- Current Account and Debt Status 35%
- New Credit Product Opening 11%
- Credit Usage Intensity 10%
Other factors make up 9% of the credit rating.
What is the Housing Loan Loan Down Payment Amount?
The person who wants to buy a house with a loan must be able to pay the loan down payment. The Banking Regulation and Supervision Agency (BRSA) states that 10% of the appraisal value of the real estate should be paid as a down payment. The housing loan that can be taken cannot exceed 90% of the value of the house to be purchased. If more than one real estate is shown as collateral for the housing loan to be taken from the bank, the loan lending rate is determined according to the total collateral rate. In this way, the entire real estate to be purchased can be credited.
Is Appraisal Report Required to Get a Home Loan?
One of the most important steps to take to get a home loan is the appointment of an appraisal by the bank. The bank appoints a real estate appraiser, called an appraiser, to determine the value of the house and decide its suitability for the loan. This adjuster is an independent auditor, not an employee of the bank. An appraisal report is prepared by the expert by looking at the features such as the location of the house, its age, and the rental price. The bank determines the mortgage loan limit that can be given according to this report. For detailed information about the appraisal report, “What Should You Pay Attention to in the Appraisal Report?” You can read our article.
