Taking the step of buying a house and processing this mortgage requires a long time since you consult with the bank, present the documentation and the entity gives you an answer. Although these processes are long, knowing the situation and having everything prepared will allow you to streamline these procedures and get your mortgage in a shorter period of time. Today, in the BARNES blog, we show you what documentation you need to apply for a mortgage.
GENERAL DOCUMENTATION REQUIRED
When you ask for a mortgage there is a set of documents that are requested in general from the entire applicant population and that, normally, are designed so that banks can check your economic solvency. These documents are as follows:
- DNI of the mortgage holders
- Personal Income Tax Return. Last income statement so that the bank can check your economic situation.
- Receipts of other loans that you have granted.
- Bank statements to check for overdrafts or seizures.
- Deposit contract, only in case of having one signed with the seller.
- Updated working life of mortgage loan applicants.
- Proof of other income that is outside your work.
- Simple note of the house to be mortgaged and other properties in your name.
NECESSARY DOCUMENTATION IF YOU ARE AN EMPLOYEE
Employees must also submit documents proving their current situation and income. In general, banks ask for the following:
- Employment contract in force. If we offer an indefinite contract, it will have a better profile for the bank than a temporary contract.
- Payrolls of the last months to check the income that has been declared.
NECESSARY DOCUMENTATION IF YOU ARE SELF-EMPLOYED
Self-employed workers must submit different documentation to justify their income. Their employment situation does not allow them to have a fixed payroll like salaried workers.
This profile is more complicated to evaluate, since not having a fixed income banks are more demanding when it comes to corroborating their economic capacity to face the mortgage. Therefore, they will need to prove that their business is viable. To do this, they must present the following documents to their bank:
- Annual personal income tax and/or VAT return
- Quarterly payments of Personal Income Tax and / or VAT of the current year to know the activity that is being developed at the time of applying for the mortgage.
- Last receipts of Social Security payment.
As an extra, the self-employed worker can also show a summary of the company's activity to demonstrate its solvency.
If you are interested in finding out more about the real estate sector, we recommend our article "How to calculate surplus value in Barcelona".