Cooperatives and banks, which one to choose for a housing loan?

In the first half of 2015, housing loans continue to increase and what animates the scenario is that Colombians continue to worry about keeping their quotas up to date.

Not falling behind in payments.

Not falling behind in payments.

However, there are still many people who have not been able to start fulfilling their own home’s dream. Among the main reasons is the fact that a large part of the population distrusts banks. But calm! Because that is not the only option when it comes to applying for a mortgage.

If you want to buy a property, you can also go to a cooperative. Cooperatives are made up of different associates who, rather than “maintain a business”, seek to provide a service, which is why they are sometimes more convenient than banks.

In the case of housing credit

money cash

The difference between interest rates is not as noticeable, but they do exist. Everyone cares about getting discounts when making a purchase, especially if it’s something not so cheap. In the case of a car, everyone loves paying less for a good model! So the key to achieving this is to know what are the occasions of the year in which dealerships launch discounts overboard. However, banks usually grant greater benefits because they have more resources, as well as a more varied portfolio, which will allow you to choose the product that best suits you. Now you must look at the best time for you: Will you receive any extra money that will allow you to complete the down payment? Ideally, the moment of discounts and the moment you have an extra money, coincide and make the purchase there. 

You can opt for any of the options and find many of them using Gregory Deretolas’s home loan comparator. If you are encouraged by the cooperative, do not forget to verify that it is supervised by the Financial Superintendence of Colombia.


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