How to choose a mortgage?
Mortgage | Advice

To buy an apartment in the mortgage, it is necessary to have an initial contribution, stable confirmed income and unspoiled credit history, but to buy an apartment in the mortgage and still profitable, you need to carefully analyze the proposals of different banks. The fact is that when you make a mortgage loan no trifles: the difference in interest rates of 0.5 - 1% per annum is easily converted into hundreds of thousands of rubles overpayment, and all sorts of restrictions greatly complicate life. Given that mortgages are rarely taken not by one or two years, it is better not to hurry up and spend some time to compare mortgage products of banks in several indicators.



- The annual interest rate

The annual interest rate determines how much you eventually pay the bank for credit. The lower the percentage, the less the overpayment, and do not be cheating the insignificance of the difference between the mortgage products of various banks. There's even 1% - a lot. For example, with an initial contribution of $ 1 000 000 and acquiring an apartment worth 4.5 million rubles, while the design of the mortgage for 15 years at 13% per annum, the overpayment amount to 4.471 million rubles, while the cost of credit 12% per year - 4,061,000 rubles. 410 000 rubles - a car repairs in the apartment, or the price of higher education, resulting in a good Russian university.

- Additional charges when you make a loan

The main additional cost when you make a mortgage - a bank commission for granting the loan, fee appraisers of property, insurance of collateral and the borrower's life and, in fact, registration of the transaction.

In recent years, most banks refused to loan fees, but left unchanged or increased fees for opening and maintenance of current accounts. Before you arrange the loan is to ask how many will make these payments, and at what point they will be written off.

Expert assessment is always required when an apartment or a country house made out in the mortgage, so the majority of banks with appraisal companies signed special cooperation agreements. It is better if the appraisers-partners will be more. This will take advantage of the market, and not overpriced.

Any bank interested to property, which he takes as a pledge, was immune from all sides, so it is beneficial to both have been decorated and title insurance, and insurance of the object and life insurance of the borrower. But it is not profitable for the borrower: the insurance object only from the devastation it will leave an annual amount of 0.2 - 0.4% of the outstanding portion of the loan, when you make a full package of insurance - 1%. However, keep in mind that insurance coverage is encouraged in a number of banks reduced interest rate.

- The number of accredited developers

On the number of accredited developers should pay attention to those who are planning to buy a new building in Moscow or in the suburbs. Accredited facilities - it is more reliable (banks check the financial viability of the developers), and lower interest rates.
- Time for consideration of the loan application

Item of the date of the application on the last place was not a coincidence. As mentioned above, the rush when choosing a mortgage is not acceptable. But if it so happened that there was a flat, you are afraid to miss, look for banks that do not tighten with the decision.

Related Posts:

  • The default of the borrower and who pays for it?The default of the borrower and who pays for it?Analytics | Mortgage | LegislationFinancial University under the Government of the Russian Federation issued a sad evidence of how much still must banks bankrupt mortgage borrow… Read More
  • What if the lost opportunity to pay the mortgageWhat if the lost opportunity to pay the mortgageMortgagesIt is good when everything is good! And nice to have the opportunity to promptly and fully to make mortgage payments. And if not? If the situation is such that the mort… Read More
  • Mortgage give allMortgage give allMortgagesReal Estate Market experts say that banks have become more loyal to the mortgage borrowers. Those requirements, which were previously required, today went to the rank of desirable or steel not signif… Read More
  • Vehicles that do not get to buy a mortgageVehicles that do not get to buy a mortgageMortgage | HabitatThe apartment, which is purchased with a mortgage loan is essentially two masters - the buyer and the bank. And who is the host to a greater extent this does not mak… Read More
  • Buying an apartment with encumbranceBuying an apartment with encumbranceMortgagesThe rapid development of mortgage inevitably leads to the fact that the property market increasingly replenished apartment, located pledged to the bank. Someone could not perform m… Read More

0 comments:

Post a Comment

Powered by Blogger.

Popular Posts

Blog Archive