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If you are thinking of venturing into the real estate business or you have experience in the subject surely you have run into the term mortgage credit.

With this system, the bank can make you a borrow money but the creditor could get to keep the mortgaged asset in case the debtor cannot cancel his installments.

The requirements to apply for a mortgage loan are the following:

1.- Business background: It will be determined if the person has had any business experience and what their records are.

2.- Financial situation: The person must enjoy good income. The bank will analyze your average monthly income and expenses.

financial situation

3.- Labor Old: Minimum 1 year old with an employer or with verifiable income.

Labor Old

4.- Nationality: It is important that you were born in the country from which the credit is requested or is a foreigner with permanent residence. Older than 18 years.

nationality
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