You now have everything ready for the purchase of your new home. The documentation is in order, all requirements are met and the corresponding payments have been paid. Now the most important step is missing, applying for the mortgage loan. But, don’t trust yourself, since behind each mortgage there is a valuation process, the scoring system . We tell you more about the scoring system below. Find the best mortgage without mistakes Going from bank to bank is a thing of the past. GET INFORMED FOR FREE Scoring system, what is it? The scoring system is a process by which banks score a client who requests a mortgage loan. Its name, the term scoring, means “score” in English, hence the choice. In essence, the main objective is to determine the level of risk involved in carrying out this process of granting the loan for the banking entity in question.
Scoring system parameters
Within the scoring system we can find a series of requirements and parameters that, although not specific, but rather universal, allow us to obtain an objective and precise assessment. Most of the variables are common in all banks, although there may always be differences depending on each entity. Likewise, the most common data that scoring takes into account in order to generate statistics are: Income level. Possession of real estate and vehicles. Link with the Spain Phone Number List bank and other contracted products. Employment stability. Profession. History of payments and non-payments. Monetary amount of mortgage in relation to monthly income. Marital status and children. Age. How do I know my scoring in Spain? If you want to check the credit scoring in Spain , you just have to request it through the Risk Information Center (CIR) of the Bank of Spain. Once inside, you can obtain your credit history for free.
How to check the scoring?
In order to check the bank scoring , before going to the bank you can get a general idea of what score you could obtain. Simply use common sense and review some variables. First of all, check if you have a stable source Colombia Phone Number Database of income to cover the monthly mortgage payment and if your borrowing capacity is viable. If these elements work, it is most likely that your score will be positive. Even so, there are tools to obtain more reliable data. You can use Housfy Hipoteca’s free mortgage simulator to find out how much it would cost you monthly. If what you are looking for is to calculate credit scoring, it is best to investigate the website or application of the bank in question, where you will surely find a financial health analysis service.