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Maria Teresa is looking for a new apartment and reviewing the options she found one that had everything she and her family needed. “It’s perfect for us,” he thought. has examples

But there is something that discourages her and makes her think that she will have to live in a rented place forever: She knows that to apply for a mortgage loan, banks require her to have at least 20% of the price of the property, as a fee initial. How can she, a young woman who has just turned 30, be able to collect that fee in a reasonable time and in turn meet her monthly expenses?

For María Teresa and for all those who are facing the same dilemma, we present three ways in which they can cover the amount of their initial fee:

Classic Savings:

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Maybe you set that goal for a few months and have not seen any results. This may be because your savings goal is very small. If your debts do not cover a significant amount of your salary, you could save up to 25% of it. Organize your budget and set a goal. If the problem is that you are very flexible, mentalize yourself and consider the amount you save as one more expense, so when the end of the month comes, nothing will stand between you and your savings.

To make the most of the amount you save, open an account at an entity that pays you the highest possible interest rate, to get all the options and request the one you want, you can use our savings comparator.

Mortgage Savings Account:

Mortgage Savings Account:



It is a modality offered by some banks to help you raise the initial installment of your home and demonstrate your ability to save before the banking institution, which will make it easier to obtain mortgage credit.

It consists of making uninterrupted deposits for a certain number of months. The amount to be deposited will be equal to the fee you will have to pay when you access the mortgage loan. In some banks, this option is only available for Mivivenda credit and if you stop depositing for a month, you lose the score you have earned . In addition, it does not allow withdrawals or transfers.
This option is ideal if you cannot support all your income with documents but want to prove that you can meet your monthly fees.

Installment deposit:

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If you have only a small amount saved, this option allows your money to grow at a faster rate than it would in a normal savings account and that there is no possibility of moving it.

By obtaining a fixed term deposit, you are depositing a certain amount of money and agreeing not to use it for the time specified in the contract. Remember, the higher the interest rate. If this is the option for you, you can use the fixed-term deposit comparator to see interest rates as well as interest earned after a reasonable period of time.


If you see that in a few months you will finish collecting your initial installment, you can access the mortgage loan comparator and choose the best financing option for your home, either with or without the Mivivienda credit. Information on interest rates, fees and terms on one page, as well as the possibility of requesting it from there.

María Teresa does not have to resign herself to living in a rented place all her life and neither do you! Use one of the options and realize the dream of your own home.

You may also be interested:

  • 10 basic questions for home buying
  • Why don’t you give me a loan?
  • Predictions for the real estate sector 2015

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