Appraisal contract
Introduction
A release loan, mortgage credit or real estate credit[1] is a credit, obtained through a contract with a financial institution, for the acquisition of a home or other real estate (real estate) or to obtain liquidity for the owners of real estate for another use, the property being mortgaged in both cases.[2].
The mortgage loan is the real guarantee on the property of the borrower (the buyer). This means that when the mortgage is established and if the consumer or client (borrower) breaches the credit contract - its return - the bank (lender) activates the legal mechanism of the mortgage right that allows it to take possession of the property through foreclosure or mortgage action (eviction) in order to recover the loan.[3].
The purchase of a home is usually financed through a mortgage loan since it is not common to have enough savings to be able to buy a home or property in cash. Due to the economic importance that the acquisition of housing has for buyers, it is recommended to evaluate its convenience in relation to the present and future income of the buyer or buyers since if there is a risk, renting is recommended as the most effective way to access the right to housing. The total payment increases significantly when the amortization terms are too long (25 and 30 years), so it is recommended that the term be as short as possible (10 or 15 years). On the other hand, the UN indicates as an affordability criterion for the acquisition of a home that the maximum of all household income used to pay the loan is less than 30% of all available income.[4][5].
Concepts of mortgage credit
Contenido
La constitución de la hipoteca inmobiliaria mediante un crédito hipotecario es una limitación del derecho real a la propiedad. Debido a que la mayoría de hipotecas inmobiliarias se producen como condición que pone la entidad bancaria para la concesión del crédito hipotecario el término hipoteca e hipoteca inmobiliaria se confunde con la concesión de dicho crédito que, inadecuadamente se denomina hipoteca pero que es un préstamo o crédito garantizado por dicho bien inmueble que pasa a estar hipotecado (hipoteca inmobiliaria).
Las características de los préstamos hipotecarios: porcentaje del préstamo respecto al valor de la vivienda o bien inmueble, gastos que conlleva la compraventa y la hipoteca, el tipo de interés, plazos de vencimiento, amortización, formas de pago y cláusulas legales pueden variar considerablemente de un país a otro y de unas a otras entidades.