#Acquiring an estate is perhaps the most important financial goal of a person and, although it may seem very distant, it really is within everyone’s reach thanks to the large amount of mortgage loans with interest rates at historic minimums, as well as the fact that there are every time more facilities to acquire financing of this type.
#However, a mortgage loan does not cover the entire price of the property, so it is the responsibility of the borrower to cover the rest with a down payment, in addition to initial expenses such as fees and legal procedures.
#To help you meet your goal, #Vivanuncios, eBay’s real estate portal, brings you some saving tips with which you can achieve your goal of brand new home in 2021.
#Today banks and housing institutions have mortgage simulators and pre-qualification systems that you can use for free and from the comfort of your home, since they are online. #With them, you can estimate the maximum amount of mortgage credit that you can access based on factors such as your age, salary and length of employment. #Likewise, you can estimate the amounts of the monthly payments that you will make during the life of the financing.
#This will help you more easily determine what type of home you can buy and create a solid financial plan for buying a home in 2021.
#Set a savings goal
#Once you know the amount of credit that you can access, you will know the price range that the property should be in and therefore it will be easier to determine how much you should save for a house or apartment.
#Experts recommend having the equivalent of 20 percent of the property’s value, plus at least 10 percent for initial expenses, so you should have at least 30 percent of the total property price available.
#Calculate how much this percentage equals and create a savings plan, contributing a specific amount each week, fortnight or month to reach the goal within a specified period.
#One of the best savings tips is to allocate extra income such as bonuses, incentives or earnings from your own business to your plan. #In this way, you will increase the amount available for the down payment, which will give you the possibility of acquiring a property with a higher price.
#Create an emergency fund
#Similarly, you must create an emergency fund. #This consists of the amount equivalent to approximately three months of your salary, which you should use only in cases of real emergency, such as serious illnesses, loss of employment or unforeseen family.
#In this way, in the event of an event of this type, you will be able to cover the expenses and avoid resorting to your savings to buy a house in 2021.
#Reduce and schedule your expenses
#Evaluate your monthly expenses and prioritize essential expenses, such as paying rent, food and services. #Reduce and, if possible, eliminate non-essential expenses such as outings, shopping, walks, trips, etc. #Create a schedule of service payments to keep them always in mind and avoid unexpected expenses.
#Remember that you can continue to have additional expenses such as birthdays, gifts for days and seasons (#Mother’s #Day, #Father’s #Day, child’s #Day, etc.) as long as you do not use your savings or your emergency fund for them. The only secrets are organization and discipline.
#Keep your debts current
#For banks and housing institutions, it is very important to evaluate your credit history to determine if you are eligible to receive financing. Therefore, it is very important to always keep your current debts current and avoid acquiring new ones. #In this way, your record will improve and therefore you will be more attractive to mortgage companies.
#Pay off as many lines of credit as possible. #By doing so, in addition to adding better grades to your credit history, you will have more money per month that you can save for a house.
#Follow these tips and meet your goal of buying a home in 2021. #Build your wealth and that of your family. #Remember to start your search at #Vivanuncios, the portal that provides you with the largest offer of homes for sale in the entire country.
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