The amount of income of the borrower depends on two factors - the amount of the loan needed by the borrower, and the term of the loan. To calculate the minimum income you need to calculate the monthly payment amount. The easiest way to do that, using special mortgage calculators banks. They need to specify initial conditions of lending the amount, terms and interest rate. As a result, you will receive the monthly payments.
Most banks provide the borrower a mortgage under the condition that the monthly payment should not exceed 40% of the income of the potential borrower. But experts believe that the mortgage did not cause serious impact on the family budget, debt load should not be higher than 30% of the total income.
The borrower can evaluate the adequacy of their income by multiplying the estimated monthly payment on the mortgage for 2.5. So, it turns out that with a monthly mortgage payment in the amount of 40 thousand rubles, the income of the borrower must be 100 thousand rubles, With the Bank rating of the borrower is taken into account, not only of his official income and other income (such as income from rental real estate or work part time).
It is worth considering that if the differentiated scheme of repayment of a mortgage, the income level should be higher than when annuitants. This is due to the fact that in this approach, the initial monthly payment is much higher.
You can use the return path to assess the adequacy of the borrower's income and determine the maximum mortgage amount with the available income. Some banks give the borrower the possibility to estimate online the amount he can count, for Example, in the savings Bank the borrower with an income of 20 thousand rubles per month can obtain a mortgage in the amount of slightly more than 1 million rubles for 20 years or 819 thousand rubles for 10 years. It is worth considering that this calculation is very approximate, since the amount of the credit may actually be increased with the involvement of guarantors and the availability of liquid collateral.
Income, though significant, but not the key factor that affects the approval of the mortgage. Also takes into account the customer's credit history, his place of work, position and seniority, etc. So even if you have sufficient income, the Bank may refuse providing the loan.
If your income does not allow you to take the required amount of the loan should consider the loan for a longer period. In some cases the mortgage can be issued without proof of income, but you need to make a substantial down payment.
Advice 2 : How to get a mortgage
Apartments in Moscow are very expensive, so for most people the only way to buy a home is obtaining a mortgage for an apartment. The mortgage entails quite a significant overpayment, but it is possible to afford to buy an apartment here once, why not do it when you lack the required amount. To obtain a mortgage on an apartment is not easy, but also save your hard-earned money over the years even more difficult.
You will need
- 1. passport and copies of all pages.
- 2. 2-NDFL statement of employment.
- 3. copy of work record card certified by the employer.
- 4. if there are loans, that help from the banks-creditors on the payments on these loans.
- 5. marriage certificate (divorce).
- 6. birth certificates of children.
- 7. a driver's license.
- 8. profile of the Bank.
- In some cases, banks require other documents.
Many prefer to contact a real estate Agency, or to a mortgage broker, since this greatly simplifies the procedure of search of the apartment and the Bank, collection of documents. Broker and realtors are quite expensive, but they know how to get a mortgage on a flat with maximum rapidity and success.
The process of obtaining a mortgage for an apartment usually starts with the search of the apartment. The apartment is easy to find, there are many sites on the Internet and printed publications, which publishes announcements of sold apartments. It is important to check the apartment to gather all documents, to perform them, preferably with the help of lawyers. Then you need to search for the Bank, which would be approved for this apartment and was given credit. For this, banks with the best deals sent the documents to the apartment (to the Bank too, they checked) and the data about who takes the credit.
If the Bank are satisfied, a loan agreement. The Bank can offer services such as credit insurance, then you will need to sign additional contract for this service. Next is a transaction transferred money - the down payment, the size of which depend on the banks. As a rule, the first payment is at least 20% of the price. The transfer of the right to an apartment is registered in the Federal Registration Service, FRS.