When a mortgage loan is acquired, it is necessary to know what the notarial expenses in a mortgage loan are . The down payment, the investigation expenses, the appraisal and the notarial expenses are part of the initial investment that you will have to make if what you are looking for is to have your own house. for a critique
Notarial expenses in a mortgage loan include the deeds of the house, the notary’s fees, acquisition taxes and registration fees. To this we must add the appraisal, essential in the purchase process, as it helps to establish a fair price for the house or the loan amount to buy a house.
These expenses are not covered when buying a house with a mortgage loan , therefore it is important to consider them as an extra expense when making a financial planning.
Apart from the notarial expenses in a mortgage loan, what other expenses should be considered?
The down payment is another of the expenses that must be taken into account , since it is not covered by the credit to buy a house or apartment. The amount of the down payment varies according to the price of the house. Usually between 10 and 30 percent of the total value of the house or apartment is paid.
It is also important to take into account the expenses of remodeling in case the house needs it, since this expense does not enter into the mortgage credit either. The value of the property will establish the financing granted, although there are credits for remodeling.
How much are notarial expenses on a mortgage loan?
To establish an estimate of the notarial expenses , you must take into account the deeds of the house, the notary’s fees, the acquisition taxes and the registration fees, as well as the cost of opening the credit opening procedures.
Notary fees may vary, however it is very important to have this service, since the participation of a notary public in the buying and selling process is essential, as it legitimizes said process. It also carries out important procedures such as the payment of taxes, the registration of property and the deed.