Mortgage closing

Buying a home involves a lot. An important step in the buying process is to take out a mortgage. A mortgage allows you to finance your home. The mortgage process can sometimes be overwhelming. A lot of information comes at you in a short period of time and you have to provide a lot of documents and information. Plus, of course, it involves a hefty loan. However, taking out a mortgage doesn't have to be complicated. At Alpina.nl we will tell you exactly how taking out a mortgage works.

Where to take out a mortgage?

Do you already have your dream home in mind? Then it's almost time for the next step: the mortgage. People often wonder where the best place to get a mortgage is. However, the answer to this question is not the same for everyone. Where best to take out a mortgage varies from person to person and from situation to situation. It depends, among other things, on the total mortgage amount, the current interest rate and the mortgage type. Interest rates and terms may vary from one mortgage to another. Where you end up taking out a mortgage is your own choice. However, a mortgage advisor can help you make this choice.

Calculate your maximum mortgage immediately!

What does taking out a mortgage cost?

Are you going to take out a mortgage? Then you will have to deal with different costs. These costs are not the same for everyone, but vary from one situation to another. When taking out a mortgage, you may face the following costs:

• Appraisal fees
• Notary fees
• Advisory and closing costs
• Bank guarantee
• Bail commission
• Bereavement commission
• Transfer tax

Good to know is that various costs are tax deductible. Notary fees, consulting fees, appraisal fees and any travel commission and costs for NHG are deductible from your taxable income when you file your tax return.

How does taking out a mortgage work?

Taking out a mortgage may seem complicated, because where should you start? The first step is usually to calculate the maximum mortgage. This way you will know within what budget you can start looking for the home of your dreams. The amount of the maximum mortgage is different for everyone, because it depends on your personal financial situation. You can also first have a consultation with a mortgage consultant. A mortgage consultant can determine how high a mortgage you can get. Moreover, an advisor not only looks at whether your income will allow you to pay the mortgage amount, but also whether you will have money left over after the monthly mortgage payments to pay other fixed costs and expenses. In addition, you will receive advice on what type of mortgage would be possible for you.

If you decide to take out a mortgage with the help of an advisor, they will take care of everything for you. You yourself will only have to provide all the necessary documents and sign papers. Of course, you can also choose to close the mortgage without the help of a mortgage advisor.

Taking out a mortgage in 5 steps

Getting a mortgage is an important step in buying a home. After all, a mortgage allows you to finance your home. Closing a mortgage does not have to be complicated at all. Every mortgage application is different, but everyone goes through roughly the same steps when taking out a mortgage. In just 5 steps you can take out a mortgage!

Step 1: Orientation

The first step is to orient yourself to a mortgage. There are lots of mortgage lenders on the market with all different mortgages. On Alpina.nl you will find all the current mortgage rates so you can easily compare them. It is important to think about the type of mortgage you want and the fixed-interest period you want. You can discuss all these matters later with a mortgage consultant during a consultation, but it is good to start thinking about them yourself.

Step 2: Choosing a mortgage

Step 2 is to choose a mortgage. You can do this with a mortgage advisor. A mortgage advisor has the knowledge and information to help you make choices during a consultation. Not only about the type of mortgage and the fixed-interest period, but also how you will pay the mortgage if you unexpectedly become unemployed and what insurance you may need. All important matters that you yourself may not immediately think about.

Step 3: Requesting the quote

You then apply for the mortgage with your chosen mortgage lender. If you have engaged a mortgage broker they will obtain the quote for you. The mortgage lender will then ask you to provide various documents so that they can make an accurate quote for you. These include pay slips, an annual statement, current statements from your bank and savings accounts, an employer's statement, a statement of your current student debt, a list of debts and a printout from mijnpensioenoverzicht.nl.

Step 4: Signing the offer and finalizing the mortgage

Once all submitted documents are approved, you will receive an interest rate offer and a preliminary mortgage amount from the mortgage lender. If you sign the preliminary you will be sent a binding offer. This is the final mortgage closing offer.

Step 5: Going to the notary

Closing the mortgage is final only after signing at the notary. Once the bank has the signed binding offer, all the official documents are sent to the notary. The notary then draws up the mortgage deed. The mortgage deed contains all the agreements you have made with the bank regarding your mortgage. After signing the mortgage deed, the house is officially yours and you can open the bubbles!

Getting a mortgage with BKR

We distinguish two types of BKR registrations: positive and negative. For example, a positive BKR registration is a loan for which you neatly meet the payment obligations. This allows you to take out a mortgage, but often affects the maximum amount you can borrow. You pay interest and repay the loan, leaving you with less money each month to pay the mortgage payments. A negative BKR registration is when you are 3 months behind in paying off a loan. With a negative BKR registration, many lenders will not allow you to take out a mortgage.

Mortgage closing after divorce

Divorce is a sad event. If you and your partner have a home and a mortgage together, you must decide together what to do with it. Do you later decide to apply for a new mortgage? Then you must inform the mortgage lender that you are divorced. Even if you and your partner have separated after a registered partnership, you must mention this. The mortgage lender wants to see the divorce agreement. This states the financial arrangements between you and your partner, such as alimony.

Taking out a mortgage for remodeling

Remodeling can cost quite a bit of money. Money you don't always have in the bank. That is why you should consider increasing your mortgage or taking out a second mortgage. This can be done with the same mortgage provider as your first mortgage. If you buy a house and want to renovate immediately, you can also (partially) finance the renovation in the mortgage. In the appraisal report you can record what the value of the house will be after the renovation. Based on this report, you can then get a higher mortgage for the renovation.

Getting a mortgage without an advisor

Do you know exactly what you want and what you need to arrange for it? Then you can also take out a mortgage without an advisor. This is also called an execution only mortgage. An excution only mortgage means that you take out the mortgage yourself online. You get no advice from an advisor and arrange everything yourself. You cannot take out an execution only mortgage with every mortgage lender. Moreover, you must pass a knowledge and experience test before you can take out an execution only mortgage.

Taking out a mortgage as an entrepreneur

Are you an entrepreneur and want to take out a mortgage? Then you should keep in mind that your financial situation will be thoroughly vetted by the mortgage lender. The mortgage lender needs assurance that you can pay the monthly expenses and as an entrepreneur, your income is often variable. Therefore, you must provide your annual figures for the last three calendar years. A combination of income from employment and entrepreneurship is allowed. Based on these figures, a mortgage advisor can make a proper calculation of your maximum mortgage.