Types of real estate financing
 When we speak about real estate financing we refer to all the means for which we can gain access to a housing, be it is rented or bought. The real estate financing splits into two types of loans or credits; in the first case, if it is a question of a real estate financing for the rent of a housing, it consists of obtaining a personal credit to be able to pay the requisites corresponding to one rent: months of deposits, real estate collision, months in advance, sealed of the contract, services of inquiry of guarantee, etc. When this way of real estate financing is used, often it can look like to us a big idea at first, but when we begin to pay the monthly quotas, and realize such high levels of interest, joined the rent with which we must expire monthly, we come to the conclusion that to ask for a real estate financing for a rent was a very serious error.
This not only stays in a conclusion, since the debt that it can go so far as to contract can be very serious and there will not stay any more remedy to be appealed to a refinancing that anyhow will keep on representing a debt in spite of which expiring. For it it is so necessary to realize a planning of how we will administer our goods when we should resort to the real estate financing by means of a loan or personal credit. On the other hand, to contract a debt of this magnitude can disable us to expire with the rent contract paying every month the number agreed in the agreed term (generally the rents are paid usually in the first ten days of every month) what was leading us to getting entangled of a way much more complicated with regard to our finance. In conclusion, discard the idea of asking for a personal loan as real estate financing. Another method of real estate financing, which is applied exclusively for those persons who want to buy a building or property is the request of a mortgage loan. As well we have said in other articles about our place, the mortgage loans as ways of real estate financing to be able to gain access to the proper house with which we all dream some day to have, to be full of benefits in our favor, which they are going to facilitate to us very much, the securing of the house. Anyway, also it is good to possess a previous planning carried out by our personal financial adviser, this way to be able to have all the monthly payments of the mortgage organized. In this sense we will say that both the financial institutions and the banks that grant this type of credits, usually offer us the planning services, therefore it turns out to be even more suitable to resort to this method.
Real estate financing for rent
To ask for loans and to extract credits is not the only way of real estate financing to which we can resort, since always this the option of the proper cash. In this case we must say that this factor is much more applicable in to the real estate financing of rents of housing, since the current average money that is invested in the rents is of, in case of departments, from 1.000 to 3.000 dollars depending the characteristics of the same one, and in case of the houses it is from 3.000 to 6.000 dollars, also depending on the characteristics that the housing possesses.
 If we consider these numbers average, we must say that it is much more feasible to gain access to the rent of a department than to that of a house, since it is much easier to be provided with 1.000 dollars in cash that with 3.000, anyway, the real estate financing in cash, it always needs of a precise planning. Something that we do not want to forget to emphasize is that the real estate rents financing in cash, it is free of all risk of contracting debts, therefore it is we must consider this type of financing.
On the other hand, the real estate financing remains completely discarded for the buy of a house or department since the numbers of the current prices in when to the properties that are to the sale they are completely ludicrous. Anyway, we always have the possibility of being provided with the help of some relative to be able to realize a real estate financing of a property to buy since in this sense, it is much easier to pay a loan granted by a person of confidence than to get into all the bureaucratic steps that are needed for a financial personal loan. Finally we want to remind to him that if he is going to gain access to the real estate financing by means of a financial company or a banking institution, I found out all the requisites that must be fulfilled for the securing of a mortgage credit, and tried to take advice by means of a financial adviser of confidence on the advantages and disadvantages of the same ones. |
