If you are considering applying for mortgage credit, check out how Scotiabank can be an ally in this article!
Mortgage credit is what is enabling many Mexicans to own their property. However, it is necessary to be careful with closed deals, because, as it is a high value, the responsibility to pay also needs to be at the same level.
In addition, those who want to pursue the loan need to know what the best rates available from credit companies are. In this article, we’ll talk a little more about Scotiabank, how to apply for credit and also the types available.
How can you apply for Scotiabank credit?
Applying for a home loan is one of the most important steps in our lives. This allows us to create a solid foundation for our future.
However, making a wrong decision when choosing your mortgage can cause serious problems for your economy. An example is choosing the wrong interest rate for your mortgage.
To help you, today we’ll look at the process and requirements you need to get a loan from Scotiabank (one of Mexico’s most famous banks) and also see if it’s really your best option.
In addition, when applying for a Scotiabank loan, you will need to bring the condominium deed, regime and regulations, last water bill, property bill, architectural plans, official number and alignment, as well as proof of freedom of guarantee, which is issued by the Public Property Registry.
The interest rate on Scotiabank mortgages is 10.30% per annum, with a Total Annual Cost (CAT) of 12.7%. The CAT represents the percentage you will actually pay each year for your credit.
What are the main types of credit?
See below some of the types of credit carried out in partnership with Scotiabank in Mexico. Read them all carefully and see which works best for your profile. If necessary, contact the agents to resolve any questions.
1. Payroll loan
Also popularly known as payroll-deductible credit, it is a more practical option, as the necessary amounts are taken directly from the salary of the applicant. This way, there is no need to pay a copy to the bank. Everything happens automatically.
Nowadays, it is possible to contract payroll loans online, through bank applications or websites. This credit line is recommended for those who have been with a company for a long time and have a relatively high salary. Thus, what you receive at the beginning of the month is already with the monthly credit amount discounted.
2. Personal credit
This personal credit, in most cases, is offered to bank customers without any demand from the customer. It can come about because of a good credit score or because the bank understands that the customer needs to use more credit than is offered.
To have this option, the bank can carry out an internal analysis of your credit, so be careful. Some institutions accept this credit as one of the ways to apply for a housing loan. So if you use your credit card a lot, it might be a good option for you.
3. Student loans
As the name makes clear, this type of loan is ideal for anyone who is a student — or about to enter a university. As private institutions can have a high value, students can apply for a loan to pay the installments. This type of loan is usually less bureaucratic.
Another advantage is that the interest applied is also usually lower. After all, financial institutions understand that students may or may not have a fixed income, which would complicate the inclusion of very high fees. Depending on the type, the student can pay in several years, even after completing the studies.