Banks Loans.

11/29/2021.

Personal Finance.

Ricardo Selva.
Introduction.

This document is about cars and mortgage loans investigation. We need

to explain the process or area of the quote, what the bank requires and
its statements. Comparison with two banks and to choose the best
option.

Explain why it is important to understand and know how to require a

bank loan?
Its important to understand and have knowledge about bank loan.
Because you make better decision and you can save money. You need
to become familiar with some key terms that are associated with all
type of loans. You have to know about the interest rate and interest
cost this are very important
New House.
Bank Lafise

Bancentro Lafise
Requirements.

General mortgage requirements-

Credit application duly completed
and signed- Photocopy of valid
identity card for nationals-
Photocopy of residence card and
valid passport for resident
foreigners- Specific mortgage
requirements.

If your profile is EMPLOYED, you

Gasto de insccripcion is a total of $ 1,988. This includes mortgage registration must complete these requirements:
fees, purchase and sale registration fees, Management Expenses and Cadastral Minimum income $ 1,200.00- 6
Certificate, Registration Procedures, Mortgage registration stamp, Purchase Sale months in current job or minimum
registration stamp and dgi format. work continuity of 6 months-
Gastos bancarios is a total of $ 2,238, this includes bank commission, legal fees Salarial constance- Last two INSS
and documentary expenses. payment stubs.

Life and mortgage insurance is a total of $ 189.

TCEA is the annual interest rate.

New House.
BAC Credomatic BAC.

Requirements.

Credit application duly filled out by debtor

and guarantor.

- Life insurance policy application duly

filled out.

- Copy of identity card.

- Promise of sale of developer (in case of

purchase in developers).

- Proof of salary updated time of service,

position and salary.

- Inss stub and / or payment vouchers

Gasto de inscripcion have a total of $ 1,821.48. This include Property registration,Sales related taxes, Documented
legal acts,Management,Evaluation,Opening commission,Tax on Documented Legal Acts.

Life and home insurance total $ 116. This is important to pay for the home insurance, which is very important, this
protects the assets against any contingency. Includes life and mortgage insurance.

TCEA is the annual interest rate.

Used House.
Bancentro Lafise.

Bank commission a total of $ 1,900. This include:

Commission Bank-Legal fees-Documentation expenses.

Total registration fees of $ 1,923. This include

Mortgage registration fees-Purchase and sale registration fees-Management Expenses and Cadastral Certificate-
Registration Procedures-Mortgage registration stamp-Buying Sale registration stamp-DGI Format.

The life and mortgage insurance is a total of $ 74.

Monthly life insurance-Monthly Mortgage Insurance.

Used House.
Bac credomatic.

The registration fees have a total of $ 1,821.48.

This include Property registration,Sales related taxes, Documented legal acts,Management,Evaluation,Opening
commission,Tax on Documented Legal Acts.

Life and home insurance total $ 97.

This is important to pay for the home insurance, which is very important, this protects the assets against any
contingency. Includes life and mortgage insurance.

TCEA is the annual interest rate.

Build a House.
Bancentro Lafise.

Build a House.
Bac Credomatic

Which option I would choose?

In this 3 comparison that I did, I look for the best option, so the best option is bac, because it have a lower
annual rate than lafise. And that is very important.

Car loan.

Requirements.

Photocopy of valid identity card for

nationals- Photocopy of residence card
and valid passport for resident foreigners-
Quote or proforma of the vehicle-Copy of
the vehicle's circulation for semi-new
Bancentro Lafise ones in the name of the commercial
house.

If your profile is EMPLOYED, you must

complete these requirements:

● Minimum income $ 800.00. Can be

pooled-6 months in current job or
minimum 6-month work continuity-Proof
of salary-Last two INSS payment stubs.

If your profile is OWN BUSINESS, you

must complete these requirements:

Legal fees are the name changes of the documents, circulation ● Minimum income $ 800.00. Can be
management is for the identification of the car, the car insurance is pooled-72 months in current activity-
for an incident that happens to the car. Bank statements for the last 3 to 6
months-Business registration- RUC of the
TCEA is the annual interest rate. company.
BAC Credomatic
Car Loan.
Requirements.

Employees:

For Nicaraguans: Copy of the identity

card- For Foreigners: Copy of residence
card and passport- Credit application duly
completed by the debtor- Proforma
invoice with specifications- Proof of initial
salary, salary and seniority- Last social
security check.

People who work independently add:

Copy of RUC identification- Copy of

current business registration- Copy of the
last two IR or fixed rate statements

For used cars add:

Copy of vehicle circulation- Vehicle

inspection by the insurer- Appraisal by a
technical expert authorized by the SIBOIF-
Vehicle registration certification issued by
Transit.
Circulation management is for the identification of the car, the car insurance is for an incident that happens to the
car.

TCEA is the annual interest rate.

Which of these two options I would choose?

I would choose BAC credomatic, because it offers a lower annual rate.

Why is important to know all this information, and how you find useful or not on
doing this job?
It is important because this way we have a knowledge, we familiarize ourselves with the terms,
this helps us to choose a better option. Besides that, one day we will have to do this on our
own. Whereas if we do not know anything we will be lost, and we can choose a bad option. Yes,
this is super useful, we are already getting familiar with this kind of thing.

Bibliography.
https://www.lafise.com/blb/Prestamo-HipotecarioNI/index.html
https://www.lafise.com/blb/PrestamoAutosNI/Autos.html
https://www2.baccredomatic.com/es-ni/prestamos/prendario/calculo-
de-cuota/solicitud?=NICN-CORE-CPR--GL-AW-PR-GG-B5-SR-00000/RG-
PRENDARIO
https://content.baccredomatic.com/es-ni/aplicaciones/calc/
perprescalcconsumo/casa/perprescalchipoteca.html?=NICN-CORE-CHP-
000007-GL-AW-PR-GG-B6-SR-00000/RG-HIPOTECAS