Written in TRENDS on 1/18/2024 · 09:53 am
The excitement of acquiring one’s own assets can lead to overlooking critical factors that generate debt or inconveniences when requesting the first mortgage loan from Infonavit in 2024, warns the National Commission for the Protection and Defense of Users of Financial Services (Condusef).
The entity warns about possible errors that could complicate obtaining a propertyreminding users that a mortgage loan is a long-term commitment. Among the warnings from Condusef are:
Short Term Vision: Do not consider that this is a long-term loan, with monthly payments that can extend from five to 20 years.
Ignorance of Credit History: Ignoring credit history may result in a lower amount awarded if the score is low, which could be insufficient to acquire the desired property.
Lack of Price Comparison: Not comparing prices before choosing property and credit can lead to hasty decisions. It is recommended to evaluate various options and choose the credit with the lowest interest rate.
Insufficient Engagement: Having a low down payment amount can be a mistake. It is suggested to save a significant amount to cover most of the value of the property.
Acceptance of Excess Credits: Accepting loans that exceed 90% of the value of the property may result in excessive interest payments, doubling or tripling the original amount.
Incorrect Calculation of Payment Capacity: Failure to adequately calculate payment capacity can lead to committing more than 30% of income to mortgage loan payments, which should be avoided.
Condusef highlights the importance of the free advice provided by Infonavit to resolve doubts and offers a warning against possible fraud by resorting to unauthorized managers. Applicants are advised to exercise caution and avoid being misled when seeking the advice necessary to make informed decisions.
2024-01-18 16:08:52
#common #mistakes #acquiring #Infonativ #credit #Condusef
