The mortgage loan is one that allows their desired housing. Its main feature is that the property is affected as collateral for the loan. Choosing the first CMO, is knowing how much will apply. To realize it has to take into account two aspects: The assessed value of the property (through taxation of a company know what the value of the property and if the amount that asks the buyer is in line with market values. More information is housed here: Robert J. Shiller. These expense charge.) Income (the amount to be paid a month in mortgage loan not exceed certain percentage-around 30% – of their monthly income. The advice from the Spanish Mortgage Association is that when determining the amount required is not Excessively tightening the belt. Give yourself some slack within the limits necessary to prevent rate increases will not affect too much on household economy ..

The other point is you have to choose the repayment term.'s the guy who set in your total loan repayment. On the scale of the operation, the term loans have expanded from five to fifteen, twenty or more. Find a fair point: to lengthen the term implies more than is necessary more years and pay interest in excess can narrow it to imply too heavy a burden. With low rates, the lengthening of the period produces a greater decrease in the quota, while high interest rates, the longer period does not produce a significant decrease in the tax payable. The interest rate determines what will be paid over the years, but not be seen as an isolated issue because you have to pay attention to all the other elements of the loan: the type of fixed-rate or variable- apply commissions, fees payable and the frequency and maturity.