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Apply for a mortgage in Argentina without savings

Apply for a mortgage in Argentina without savings

To request a mortgage, it is normal that before we have some savings prior to the mortgage loan so that the financial institution in question relies on our solvency and we are able to ensure the advancement of a few installments.

How to apply for a mortgage is very simple, in the following text we will give you a series of guidelines to achieve this objective even if you do not have prior savings to start the process of your mortgage.

Remember that the most important thing when applying for a mortgage is to take a structured payment plan and follow it as rigorously as possible and not spend money on superfluous things that prevent us from being up to date with the payment of our deadlines. On the other hand, it is also important to know how to save money to buy a house without getting into debt: saving is one of the most important steps when getting into a mortgage, so if you know how to do it it will help you greatly To fulfill your goal.

How to request a mortgage in Argentina, several requirements

The main requirements to obtain a mortgage in Argentina can be summed up in three large blocks: the documentation of the person, the work and the real estate that will be mortgaged.

Personal documentation

  • ID

  • LC or LE of each interested holder

  • Marital status: if the marriage certificate is married, if it is separate to put the judicial sentence, if there is a de facto unit to enter the certificate of cohabitation

Labor documentation

Labor documentation

It depends on the type of worker that maybe, among which are employees dependent on an employer or company, the self-employed or the monotributistas.

  • Employees must submit a receipt for the last three floors, 6 if it is variable. Employment certificate that has to be signed by the employer.

  • The self-employed person must present licenses as a self-employed professional, proof of AFIP with the principle of their activities and the last tax return

  • The monotributistas will present the proof that makes them adhere to the mon tax of the AFIP and payments of the gross income of the last year, plus proof of the payment.

Third step, after the prequalification of the bank in question

Third step, after the prequalification of the bank in question

They will present the data of the property:

  • Copy of the original title of the good

  • Copy of the real estate tax payment in which the cadastre numbers appear

With all this, it is the bank that will send in a period that does not exceed four weeks all the information to its appraiser. This is the one that makes the final report with which the financial entity may or may not consider the mortgage valid.

Final step on how to set up a mortgage

Final step on how to set up a mortgage

The final step after requesting a mortgage is in which the bank communicates with the buyer of the property and the final deed is signed. Finally, you just have to celebrate the purchase.

Some entities to apply for a mortgage:

As we know, to apply for a mortgage it is important to get the bank to have a good image of us , starting by presenting a good credit history that shows the bank that we are accountable to our debts. Having a positive financial history is even more important than having previous savings, so working your history with each of your finances is a plus that you should keep in mind to get your mortgage. On the other hand, there are more tips to apply for a mortgage loan that you should consider before requesting a mortgage so that your economic situation is not harmed, since a mortgage is a high risk product that can carry a significant debt of Not being able to meet payments. Therefore, it is important to assess all factors such as contract details, our income, and all the necessary information about our mortgage that can help us make the right decision.

Now, well, what banks can lend us money to apply for our mortgage?

A banking entity that has had a track record since 1988 in financial operations and lending to clients that place full trust in this entity. With BBVA Francés you can request your mortgage meeting these requirements:

  • Minimum income: $ 15,000

  • 36-month employment seniority

  • Be over 18 and under 74 years old.

Another doubt that is always present in the mind of anyone who wants to apply for a mortgage is the fear of whether they can meet all the deadlines without being delayed. There are many who fall into the question of what happens if I do not pay the mortgage one month. Normally from your bank, they give you all kinds of facilities so that you do not lose your mortgage in the event that you cannot pay any other installment on time, but you will always have to compensate it in the payment of the next one and the rates or interests will be added for the delay. However, the bank acts reasonably and always addresses the possible difficulties that may arise from the client to find a solution that satisfies both parties.

In conclusion, asking for a mortgage loan is a very sensitive matter for everything at stake. That is why we advise you to look carefully at the possibilities you have and make a deliberate and thoughtful decision to avoid possible indebtedness and loss of property.