If you are one of the many citizens who have a current mortgage loan, there is a question you have probably already asked. It is: Can I access a loan by having a mortgage loan? Just to let you know the answer to that question, we have made this article, which we invite you to read.
What is a mortgage?
A mortgage loan is a loan offered by a financial institution for an exclusive purpose. This loan is only used to acquire land or real estate, which, in turn, is the guarantee of the same.
So, in essence, a mortgage loan is not different from many other types of loans granted by a financial institution. You receive an amount of capital, which you must return, along with interest and other related expenses within a set period.
Is it possible for me to access a loan by having a mortgage loan?
The answer to your question is a resounding yes. There is no impediment that generates the mortgage loan.
In fact, it is very likely that even having a mortgage, you have one or more credit cards. These are consumer credit instruments granted by financial institutions, which are, they are a form of personal credit. Then you are already benefiting from other lines of credit, other than mortgage credit, which shows that there is no impediment.
Although it is possible
You should analyze before applying for another loan, if that operation is convenient for your finances. In particular, we recommend that you only do so in case you have enough income.
To be precise, when the monthly amount to be paid for all your loans, does not exceed 40% of your income. And with all of us we refer to the payments of mortgage credit, credit card and other obligations that you have.