• Administration
  • Spanish Classes
  • Society.
  • Culture.
  • English
    • Arabic
    • Bulgarian
    • Croatian
    • Czech
    • Danish
    • Dutch
    • English
    • Estonian
    • Finnish
    • French
    • Georgian
    • German
    • Greek
    • Hebrew
    • Hindi
    • Hungarian
    • Indonesian
    • Italian
    • Japanese
    • Korean
    • Latvian
    • Lithuanian
    • Norwegian
    • Persian
    • Polish
    • Portuguese
    • Romanian
    • Russian
    • Serbian
    • Slovak
    • Slovenian
    • Swedish
    • Thai
    • Turkish
    • Ukrainian
  • Twitter
  • Facebook
  • Instagram
  • Example of Traditional Credit
    • Science.
    • Get To Know Us
    • Psychology. Top Definitions
    • History. Top Definitions

    Example of Traditional Credit

    Finance   /   by admin   /   July 04, 2021

    A traditional credit It is a simple credit that meets the characteristics of being simple, and that its amount, payments and interests are fixed.

    It is generally used for the acquisition of houses, apartments or rooms and requires a approval, in which a study is carried out on the income and circumstances in which the interested.

    This credit is part of long-term financing, as it has a term greater than five years, although it can be categorized in the medium term if it is stipulated that it should last three or four years.

    Traditional credit example:

    Mr. and Mrs. Méndez are newlyweds, and they intend to acquire a house of their own to live in. For this, they present themselves to the bank of their trust and ask for a traditional loan to acquire said property.

    As they do not have enough equity, the bank decides to grant them a loan, and for this they will mortgage the house they hope to buy, lending them enough money for their acquisition, and committing to pay the cost of the property to the bank that granted them the loan.

    instagram story viewer

    Once the purchase of the property has been completed, Mr. Méndez must pay the mortgage that has been calculated for twenty years with a fixed percentage of 4% per year.

    Over the years, Mr. and Mrs. Méndez, make the payments, coming to advance payments at a given time.

    After making the payments corresponding to the twenty years, they finished paying the payments that canceled the debt acquired with the mortgage.

    After the cancellation of this debt, the mortgage will be finalized through the corresponding procedures, before the bank and the corresponding notary.

    Tags cloud
    • Finance
    Rating
    0
    Views
    0
    Comments
    Recommend to friends
    • Twitter
    • Facebook
    • Instagram
    SUBSCRIBE
    Subscribe to comments
    YOU MIGHT ALSO LIKE
    • Cards
      04/07/2021
      Sample Letter of Filing
    • Concept in Definition ABC
      Miscellanea
      04/07/2021
      Concept in Definition ABC
    • Concept in Definition ABC
      Miscellanea
      04/07/2021
      Concept in Definition ABC
    Social
    8362 Fans
    Like
    2071 Followers
    Follow
    5325 Subscribers
    Subscribers
    Categories
    Administration
    Spanish Classes
    Society.
    Culture.
    Science.
    Get To Know Us
    Psychology. Top Definitions
    History. Top Definitions
    Examples
    Kitchen
    Basic Knowledge
    Accounting
    Contracts
    Css
    Culture And Society
    Curriculum Vitae
    Right
    Design
    Art
    Job
    Polls
    Essays
    Writings
    Philosophy
    Finance
    Physics
    Geography
    Story
    Mexico History
    Asp
    Popular posts
    Sample Letter of Filing
    Cards
    04/07/2021
    Concept in Definition ABC
    Concept in Definition ABC
    Miscellanea
    04/07/2021
    Concept in Definition ABC
    Concept in Definition ABC
    Miscellanea
    04/07/2021

    Tags

    • Basic Knowledge
    • Accounting
    • Contracts
    • Css
    • Culture And Society
    • Curriculum Vitae
    • Right
    • Design
    • Art
    • Job
    • Polls
    • Essays
    • Writings
    • Philosophy
    • Finance
    • Physics
    • Geography
    • Story
    • Mexico History
    • Asp
    • Administration
    • Spanish Classes
    • Society.
    • Culture.
    • Science.
    • Get To Know Us
    • Psychology. Top Definitions
    • History. Top Definitions
    • Examples
    • Kitchen
    Privacy

    © Copyright 2025 by Educational resource. All Rights Reserved.