How to get a mortgage in the Bank

Under the terms of the mortgage the borrower receives a loan to buy a house or apartment and draws up real estate as collateral to the Bank. For the acquisition of property is given a certain amount, on which interest is accrued. To pay contributions regularly, in case of delay of payment on the borrower are imposed, the sanctions provided for by law.

Instruction

1. Find out the basic conditions, which mortgage banks impose to their borrowers and their financial situation depends on how the rate and loan amount. Pay in the currency in which you receive a monthly income.
2. Ask the consultant about the requirements to the financial position of the borrower. Most banks are willing to issue mortgage loans in such amount, payment of which is not more than a third (at least half) the monthly income of the borrower.
3. Examine the requirements made by the Bank to seniority. Raiffeisenbank enough if you're in the same place for three months. In the Russian mortgage Bank and UniCreditBank , you will require proof of six months continuous employment at the previous place not less than 24 months General work experience.
4. Check whether the method of obtaining income mortgage lending. In SBERBank and VTB 24, the size of the mortgage rates does not depend on the form of proof of income. Banks follow the rules, according to which monthly payments on a mortgage loan should not exceed 30-40% of total income.
5. Invite a co-borrower, if the amount approved by the Bank is insufficient to purchase a cheaper option to purchase real estate you are considering. In addition to the principal and interest you need to pay the Bank a Commission fee for consideration of the application for the loan and for servicing the loan account. This is spelled out in the mortgage contract.
6. Use the mortgage calculator, you can find it on each official website of any Bank. In a special field, enter the period for which you are going to arrange a loan, amount of monthly income, size of credit. The system will display information where it will be visible, what you can expect when you contact the Bank. In addition, attached is a schedule of payments which is very convenient.
7. At the time of obtaining the loan you must be at least 21 year. Some structures also limited the upper age limit of the loan - to individuals over the age of 50 years it is difficult to get a loan for a period of 15 years and above. The savings Bank promotes the benefits of obtaining a mortgage "card holders". URALSIB Bank has a program to the special conditions of the loan to young families.
8. Count how many years you will be able to pay the premiums. Banks offer different loan programs: for example, for those who take a mortgage for 20 years, the conditions harsher than for 5-year borrowers. Select the mortgage program that is most beneficial. Study the mortgage contract.
9. Contact the credit brokers, they are not interested in "imposing" mortgage programs. Report the amount of your monthly income, how long you expect to take money from the Bank. A specialist will not only save the time of searching the best mortgage, but will also assist in the refinancing of the loan.
10. Gather the necessary documents and take them to the Bank, apply for a mortgage loan, fill in the questionnaire. The credit rating of the borrower takes some time. From the result of the validation will depend on the final decision on the loan.
11. Select a few options any apartments. Specify whether the Bank lending programme in the primary real estate market. Find the property you need within 2-3 months from the date of approval of the application for the loan.
12. Evaluate of housing. The procedure provided by the legislation, it is necessary for the Bank, which is necessary to ensure that the collateral has the correct value. After assessing and providing information you will be able to get the right amount of money.