Calculate the mortgage payment for the purchase of your new home with Bourgeois Fincas. This simulator allows you to calculate your mortgage payments quickly and easily, giving you the information you need to make an informed decision about purchasing your new home.
The Bourgeois Fincas mortgage simulator is a tool that allows you to calculate your mortgage payment. We explain how it works in three easy steps:
Enter all relevant information in the appropriate boxes. Once the information has been collected, the simulator will take this data and generate a summary of the operation and a comparison between the total cost of housing and the total cost of the mortgage.
The simulator provides a graph to check the evolution of the loan and an amortization table that shows how your monthly payments will be distributed over the term of the loan. You can experiment with extraordinary contributions or grace periods if you wish.
Once you understand the costs and financial commitments involved in a home mortgage, you can plan, make an informed decision, and choose the mortgage that best suits your financial and personal needs. The specialists of Bourgeois Fincas will accompany you throughout the mortgage application and closing process so you can make a wise investment.
Before applying for a mortgage, it is essential to evaluate your financial situation carefully. Banks consider several factors before granting a mortgage loan. Generally, mortgages cover up to a maximum of 80% of the cost of housing, which means that you must have 20% savings to cover related expenses.
Furthermore, the sum of the mortgage payment and other debts shouldn’t exceed 35% of your monthly income. Personal aspects such as your job stability, marital status, and whether you have other outstanding debts or assets are also analyzed.
The bank will carry out a thorough evaluation to ensure that you meet these requirements and that you will be able to meet the monthly payments. Otherwise, they may ask you for a guarantee. However, if you want to obtain a mortgage without collateral, you can do so by requesting an amount less than 80% of the value of the home you want to purchase.
To apply for a mortgage, the following documentation is generally required:
Some common costs associated with mortgage subrogation include:
Fixed-rate mortgages offer stable monthly payments, while variable mortgages can be cheaper initially but with the risk of increasing interest rates. Consult with our financial advisors to decide which is best for you.