How to buy an apartment without the original fee

The first method is the security of existing housing. For example, if parents want to buy to the son apartment, they lay their home, receiving from the Bank about 80% of its value. The Bank can take the apartment as collateral only if it is in the same region where the borrower wishes to buy a new home. In this case, you can only buy cheaper housing.

The second way is to obtain two mortgages. If in the first case it is impossible to buy more expensive housing, when using this method, it is sufficient to have at least some real estate. The first loan is taken for payment of the first installment secured by existing apartments and the second bail purchased housing. Naturally after the purchase, the borrower will have for decades to pay off both banks. To obtain two loans at the same time you need to have a high stable income and good credit history.

Another possibility is to pay the initial fee, take unsecured personal loan. It is convenient for those who do not have major assets that can be mortgaged. However, the problem is that consumer credit is given for a shorter period than mortgages, and to pay him will need to quickly. An unsecured loan usually issued for a small fee and possibly part of the money down payment in a mortgage will have to pay out of pocket. To get a loan for a longer period and larger the amount you can lay some movable property, such as a car. You can also enlist the help of a guarantor. In each of these cases, you must have a steady above-average income and be able to save money.

In any case it would have to link up a network of loans for large sums, payment of which will have for many years. Really appreciate their capabilities and the financial situation in your city. Perhaps it is better to try to accumulate a downpayment instead then try to get out of high interest rates and penalties for late payment.