What does a Freelancer need to have a mortgage loan?
1. Have a good credit bureau
2. prove income
3. Be registered in the SHCP
4. Have a previous saving of 20% of the value of the property
Freelancers have to prove that they are registered with the tax office as natural persons with business activity and that their professional activity is consistent with their tax registration. Likewise, they need to prove their income flow for 4 or 6 months —depending on the activity—, so that based on that income the bank determines the amount to which they are subject to credit.
The manager's suggestion is to try to contract a 15-year loan, with a fixed interest rate and in pesos. “Let's remember that, for every 100,000 pesos of credit that you contract, your monthly payment will be around 1,200 pesos. But since banks normally grant financing above 300,000 pesos, that monthly payment will increase to about 3,600 pesos per month. And, furthermore, since 300,000 pesos is not a representative amount to buy a house or apartment in Puerto Vallarta, for example, it is very likely that the amount of credit you need is 1,000,000 pesos. In this way, the monthly payment of the credit will be approximately 12,000 pesos.
It is advisable to have 1 or 2 monthly payments saved for any unforeseen event, do not see yourself in the need to generate a delay in your payments and increase interest.
Do you work independently and want to buy a house or an apartment? At Grupo Gova we advise you so that you can do it with the best mortgage credit option.