Can I mortgage my house without having a stable job?

It is important to understand what are the advantages and disadvantages associated with mortgage my home to obtain a loan, without having a job. Nicely, if I need money and am don’t have a stable job, I might think that the best way to get it will be through a mortgage, but I might be wrong.

It is a fairly common exercise and in clear growth these days. Proof of this is that nearly 90 thousand people within 2016 had mortgaged their house and the following year just before April at least 30 1000 people had registered mortgage loans in the Public Registry.

Do you know the advantages of having a house whenever applying for a loan?

One of the advantages are:

  • It represents a fast way to get a loan
  • You do not need to have a steady job:
  • Will not require income checks to reach credit.

Do you know the risks of mortgaging the home without having a stable work?

Some of the risks you will have to face get to mortgage your home to get a loan, without having a career are the following:

  • Difficulty paying well-timed fees. Without a stable earnings, there is a greater risk associated with not paying the costs per day.
  • Spending higher interest: Many times the eye is higher than if the discussion of the loan was depending on income.
  • Without having money to bear the costs from the negotiation: One of the expenses may be the main contract that is agreed upon between the owner of the house as well as the financial institution, as well as the qualification legal rights before the DIAN.

In short, I can quickly mortgage my house without having a well balanced job but this option provides its risks and also does not always mean the final resolution of our problems. Even when interest rates are getting down, I must take the danger of losing it.

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