May 25, 2024

After your loan application is pre-approved, you must submit the required documents to the bank. Banks require three main documents for a home loan: identity card or new identity card, residence certificate and income statement. If you have a regular income, your application is highly likely to be approved. Persons with a low credit rating or who have been followed up due to their credit debt cannot get a housing loan. No guarantor is required due to the mortgage application in the housing loan. On the other hand, if the person making the application does not have sufficient income, a guarantor requirement may arise.

Which Houses Are Eligible to Get a Housing Loan?

If the house you plan to buy does not have a condominium title deed, it is not possible to get a home loan. Even if there are residences within the scope of the construction or project, there is a condition of deed of construction servitude. If you do not meet these conditions, you will not be able to get a loan.

Situations where Housing Loan Cannot Be Used In
order to get a house loan, the house must be accepted as a residence. Housing loans are not given to land, shop or warehouse deeds. In addition, if the house to be purchased is built in violation of laws and regulations, it is not considered suitable for a housing loan. It is obligatory for the residences that have a floor servitude to have a Non-Using Permit.
In addition, it will be a serious advantage for you to see the house as completed in the detailed report prepared by the real estate expert. The house planned to be purchased must be at least 80 percent complete. 

Are Mortgage Interest Rates Decreasing?

Although housing loan interest rates are still above 1 percent, that is, above the expected limits, it is possible to say that there has been a great decline in loan interest rates. Public banks are among the banks that provide the most suitable housing loans. The lowest housing loan interest rate is 1.28. 

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