Buying a home loan is a serious financial decision. The majority of consumers attribute 40-50% of their monthly income to loan installments. In this context, the most frequently asked questions from consumers are around income. I want to share the most prominent among them with you.
1. I have income but I cannot document all of them at SSK. Will I get a loan?
The question we face most often. In this case, if you can get a salary letter explaining this situation from the company you work with, the banks will definitely evaluate it positively.
2. My income is low compared to the installment of the loan I will get, can I also show the income of my family (my son, my mother)?
In cases where the installment amount to be paid for the loan exceeds 40-50% of the salary, banks also accept the income of family members. It is possible to use credit in this way, as the mother, father and spouse incomes are perceived by the banks as the total income of the household. However, children’s income, children getting married, etc. It is not accepted by every bank because it is thought to leave the house for reasons.
3. I have premiums or annual additional income that I receive every year, can I include them in the loan?
You can add interim payments to your mortgage in this way, which is very profitable for you. In this way, by closing your loan in a shorter time, you will ease your interest burden. The important thing is to determine a payment plan suitable for your income before using your loan. Otherwise, when you want to make an interim payment, you will face an early payment penalty.
4. I have no down payment. I want to use credit for the whole house value I will buy. Is it possible?
In accordance with the decision taken by the BRSA in 2011, banks can only give up to 75% of the appraisal value of the house to be purchased. However, if there is a second house belonging to you or your family, it is possible to credit the entire value of the house by showing this as a guarantee. In some cases, we recommend that you consult a person in such a situation, as there may be different exceptions and practices specific to the person.
You can ask your questions about income and all other matters when you apply for a mortgage loan to the expert and independent bank mortgage consultants of Lite Lender completely free of charge. In this way, you will be profitable with installments suitable for your income and by using mortgage loans under the best conditions.