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Mortgage loans to acquire a property

​Learn about the options that mortgage banks have available to you.

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MORTGAGE CALCULATOR

Rural Mortgage

For the purchase of a primary residence at low interest to finance up to 100%. Subject to RURAL approval of the location of the property and the maximum income limit according to your family composition. RURAL guarantee required.

VA Mortgage

Guaranteed by the Veterans Administration for Veterans of the United States Army, subject to its. Certificate of Eligibility. For purchase of main residence up to 100% and for refinancing of main residence up to 100% of the appraised value. Provides consumer assistance programs.

Conventional FNMA

It offers the lowest interest rates on the market to buy or refinance a primary residence. It also offers you the possibility of acquiring private mortgage insurance to increase the amount of the loan with respect to the appraised value, in main residence loans. It also allows you to refinance your current mortgage to reduce term and interest.



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MORTGAGE CALCULATOR

FHA Mortgage

For the purchase of a primary residence at low interest. There is a maximum loan amount established for each municipality. Financing available to consolidate debt or obtain surplus, which can be used for improvements or other uses. It requires mortgage insurance to guarantee the debt and provides assistance programs in cases of claims or difficult situations related to the payment of your mortgage.

To Buy Social Interest Housing

It is a conventional mortgage to finance the purchase of a main residence of social interest for applicants who have qualified to obtain aid from established and current government programs for these purposes.

203-K

​FHA product whose purpose is to meet the needs of the consumer to convert a property into habitable conditions. The cost of the improvements can be included in the financing, up to the established maximum limits. FHA loan requirements such as mortgage insurance and maximum loan amounts by municipality apply. It includes a quote for improvements by a contractor duly authorized by DACO.

Convencional No Conforme

Ofrece gran flexibilidad para comprar o refinanciar una residencia. Combina términos y planes de amortización que se ajustan a su conveniencia, con productos tales como hipotecas “Balloon”.


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What are closing costs?

Closing costs are the costs involved in processing and signing a mortgage application. These expenses include, among others:

  • Origination Fees
  • Mortgage discount
  • Mortgage Insurance Premium [if applicable]
  • Prima de seguro para póliza de vivienda
  • Insurance premium for housing policy
  • Credit Report
  • Appraisal
  • Title Study
  • Measurement Plan [Plot Plan]
  • Certification of location on the plan of flood zones
  • attorney fees
  • Stamps for mortgage deed or legal expenses

What are origination and discount fees?

 
They are part of the closing cost of a mortgage loan. The origination fees cover the administrative costs of the mortgage institution when processing the financing request. The mortgage discount is a charge to cover the cost of selling the mortgage in the secondary market. These expenses vary according to the interest rate of the mortgage.

How do you set the value of properties?

As part of the application review process, an appraisal of the property will be requested from a state-certified, bank-licensed professional appraiser. The appraisal is an estimate of the likely value of the property based on a physical inspection of the property and an analysis of three recent sales of similar properties in your neighborhood. The appraisal is prepared in uniform formats accepted by investors and insurers that include photos of the subject and comparables, location maps, and space distribution plan, among others.

What documents do I need to file?

These are some documents that you may require when filing a mortgage application:

  • Property deed with legal description and presentation data
  • Pay stubs covering the last 30 days
  • Withholding Statements [W-2 form] for the last 2 years
  • Bank statements of the last 2 months
  • Purchase and Sale Option Contract [if applicable]
  • Evidence of option payment to Seller [if applicable]
  • Certified returns of the last 2 years, for self-employment
  • Property Cadastre Number

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