Everything is fine with the documentation. The buyer has done his part, the current owner has done his part, and the property is undamaged. But then, there is no approval in the credit analysis of the bank that would grant the mortgage. All is lost!
To prevent this situation from happening, the broker needs to act as a true advisor to his clients. This also includes passing on tips for real estate financing. Professionals, therefore, need to be aware of the new rules in the credit sector and alert customers to the precautions that customers must take.
See, below, how to pass on tips for your customers to get the long-awaited mortgage loan:
Know the conditions of your customers
The first step in helping your clients to get a good mortgage is to know the conditions in which they find themselves. And we’re not just talking about his financial reality, but much more detail.
For example, it is important to know how long your customer is willing to wait before buying a property and what type of property they prefer. Once you have these answers in hand, you should record them in your Real Estate CRM. Then, you can cross this data with your property portfolio and find a better offer for it. Maybe he doesn’t even need to resort to real estate financing, right?
Now, if there is a need, you should pass the following tips…
Accounts up to date
It’s obvious, but it’s good to warn. Anyone, before applying for a mortgage, needs to ensure that the name is clear in the square. No restrictions on credit protection services, whether SPC, Serosa or any other.
The Cadastral Positive program, run by Serosa Experian, is a strong ally of funding. With it, the consumer lets companies find out if he has payments on time or not. One of the benefits a buyer can get by enrolling in the program is getting loans and financing with lower interest rates.
Proof of income
It is easier for registered workers, but the self-employed are always at a loss when it comes to financing a property. Therefore, advise them to have a record as an Individual Micro entrepreneur, as this helps with credit analysis. Not to mention that formal registration guarantees benefits such as retirement and sick pay.
Suggest organization by your customer. To prove the income, he must have his Income Tax declaration, bank statements and payslips in hand.
Receive everything in a single bank
Concentrating all monthly earnings in a single bank makes the issue of the organization easier. Thus, the process to prove how much he declared becomes more agile.
Not to mention that with more money in an account, it is possible to have more income on your investments, allowing for a greater down payment in real estate financing.
A good entry into real estate finance
Keep in mind that the smaller the down payment, the greater the mortgage. This increases the chance of him failing too. Therefore, encourage the buyer to make a robust input.
The amount of the monthly installment cannot exceed 30% of the income he has, so he needs to give a good signal for the purchase.
Compare the conditions of each bank
Be a proactive broker who truly helps your customers. One way to do this is to present each bank’s mortgage loan conditions. Depending on the situation of each of your customers, requesting credit from one bank is more advantageous than from another.