The process of obtaining the loan

Buying a home with a mortgage loan is not a simple decision. For most of us, this can be one of the most important decisions in life. But let’s not forget that at the end of this difficult process your home awaits you. We, Verida, are a team of mortgage specialists with responsibility in every particular lending case, because every client is just as important to us. With us by your side the process of obtaining a mortgage loan will become easier.

At Verida, the process of obtaining a mortgage loan involves the following steps:

1. Credit application with mortgage and preparation of the credit file

In order to complete your credit application and prepare a credit file as soon as possible, you need to meet a credit officer who will identify your wishes and needs. From our experience, we can tell you that establishing a relationship based on honesty and total transparency provides the right guidance for your situation and, ultimately, you can choose the most appropriate credit product. Together, we will perform simulations and, depending on your decision, the credit officer will assist you in filling your credit application and preparing the credit file.

2. The offer

Once the application is reviewed, Verida will make a decision, hopefully in your favor, but there are cases where it may be negative. Because we understand that your time is precious, in 48 hours you will receive an answer to your credit request. Your credit officer will be available to you for further information. If you receive a favorable answer, you will receive an offer and have a period of 1 month to find your dream home. This indicative offer typically includes the essential elements of a real estate credit, specifying that the exact amount will be calculated only after the evaluation of the collateral property.

3. Legal Analysis and Property Evaluation

Together, we need to make sure that the property you want to acquire has all the legal documents in order, and your seller has the right to sell it. In order to determine the final amount of the loan, the property will be valued by an independent valuer and, depending on the amount determined by the evaluator, the financial institution will calculate in accordance with the applicable regulations, which is the maximum credit limit. CAREFUL! The credit granted will always be the minimum between the amount calculated and the maximum amount that the financial institution thinks you can borrow.

4. Contract signing

In this last step you will have to sign the credit agreement and the mortgage contract, after which you will receive the amount of money requested as a credit. For this final step to happen as easily as possible, we advise you to have a prior appointment between the  seller, the notary and the credit officer. We also advise you to carefully read the credit agreement and address open and sincere questions to your officer or the notary in order to eliminate any unclear facts.