Mortgage credit or housing leasing? Choose well

You are about to purchase a home and you are wondering exactly what would be your best option, home loan credit or housing renting? Colombia has become one of the nations with more stability in the buy of homes and the options to get them multiply.

All alternatives have the exact same objective, the purchase of the house through banks or even credit institutions. What distinguishes you may be useful or stand for an obstacle, that is why these days we show you the advantages of selecting between mortgage credit or even residential leasing.


Home loan credit or housing renting

Today, the circumstances for both types of credit score are regulated by the laws of 99 number 546. There, the laws upon housing and real estate funding are defined. The rules defend consumers so they can acquire good housing in favorable situations.

The money offered in the mortgage loan or home leasing is strictly focused on the purchase of the home. Payment periods vary simply by bank and consumer features. Some of these credits can also be focused on repair, remodeling or diy.


Mortgage credit

The capital is given to the particular builder in charge of the house and the payment remains with the intention of the buyer. The fees are usually defined from the entity and could vary in their terms. The cash will always be used for the structure or remodeling of a house.


Housing leasing

It is a modality where the mortgage installments are transformed into the particular lease payments of the residence. When payments are finished there is an option to purchase.

The bank is in charge of purchasing the house in your name plus through a contract it is sent to you in exchange for a transaction in installments for an decided period.



You must define which usually of these financing modes fits you. Analyze your accounts and appear at your budget to find out which usually accounts to support payments as time passes. Remember that a mortgage loan is really a commitment that is acquired in the long run, and that is why it is better in order to define the guidelines to carry out this method in the most harmonious possible way.

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