How to Negotiate with the Bank to Obtain 100% of Your Mortgage

No one should deceive you: get a mortgage 100% is not easy. The risk that banks assume when granting them is considerable, so they tread carefully. Despite everything, if you see them advertised it is because they exist and there are possibilities of getting them. Therefore, today we explain how you can negotiate with the bank to obtain 100% of your mortgage.

What you should know before negotiating a 100 mortgage with the bank

If you consider apply for a mortgage 100 It is because you do not have the savings that conventional mortgages require. However, you may be surprised to know that with a 100% mortgage, although in a smaller amount, you also need savings. Specifically, a 10 % of the price of the apartment to cover the taxes and expenses associated with the purchase.

A second aspect to take into account is the weight of monthly payments. The larger the financing, the higher the payments, so the impact of a 100 mortgage on your accounts will be greater than that of a conventional mortgage. To check this, use the mortgage simulator de Housfy.

What, therefore, is the ideal profile to apply for a mortgage 100? A person who has the necessary savings to assume the 10% mentioned above, and sufficient income to face higher than normal payments.

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Tricks to negotiate with the bank and obtain a 100% mortgage

Now that you know a couple of essential aspects about 100 mortgages that, perhaps, you had not taken into consideration, let’s move on to how you can negotiate with the bank to get 100% of your mortgage.

Show the bank that you have savings and good financial capacity

Naturally, if we have said that these two traits characterize the ideal profile, they are your best asset to negotiate the conditions of a mortgage 100. When the bank verifies your savings and good income, the chances of granting you 100% financing will multiply.

Job stability, an excellent letter

Just as important as having enough income to pay the fees is proving that you will have it. throughout the life of the loan. The profile of the official, for example, is very popular with the banks. Whether their income is high or moderate, they give them confidence that there will be no interruptions in payments. In fact, solid job stability can compensate for the lack of a very notable income.

Accompany your application for a mortgage guarantee

It is your best resource if you lack solid job stability or high income. Through a guarantee, the guarantor undertakes to respond for the endorsed in case of debt. It is a way, therefore, to guarantee the bank that it will receive its money back.

You will be especially interested in 20% ICO guarantee. Promoted by the Government, this guarantee covers that 20% that banks do not usually cover, making it an excellent way to get a mortgage 100. Of course: it is an endorsement, but not a subsidy. The bank will lend you that 20% guaranteed by the ICO, but you will be the one who must return it. If the ICO has to respond for you, you will contract the debt with it.

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Let the experts negotiate your 100% mortgage with the bank

With the mortgage brokers With Housfy Mortgages you don’t have to worry about the negotiation. They do it directly, and they present several options so that you can compare between mortgages and choose the best. And you know about all the paperwork? They also do it for you.