• How to buy a mortgage?

    To buy a home you need a lot of money. Accumulating them for a long time, besides, a high level of inflation quickly reduces the purchasing power of money. Therefore, many who wish to acquire their housing tend to mortgage lending.

    In this article we turn to a very relevant topic in our time - the purchase of housing in the mortgage. Let us examine the concept of mortgage and its conditions in Russia. Consider the existing options and lending programs.

    Mortgage - a loan to buy a home, where it also acts as a pledge. Acquired real estate becomes the property of the borrower, and in the event of its insolvency, the lender compensates for expenses through the sale of real estate.

    What are the conditions of the mortgage?

    Under the terms of mortgage lending refers to the term of the loan and the interest rate, as for any other loan. It is important that here the loan amount is not the entire cost of housing, but only part of it - the remaining part will be a down payment. In turn, the down payment is part of the cost of housing, which the borrower must have before receiving the mortgage.

    Mortgage loan can be taken in any currency, in which - everyone decides for himself.

    When making a bank can ask the borrower to confirm their income. To do this, you will need to make a certificate in a standard form or in some cases in the form of a bank.

    Sometimes for registration requires a certain length of service, special housing requirements or the provision of guarantors. This list may be supplemented by the presence of registration at the place of receipt of the loan. In most cases, Russian citizenship is mandatory.

    It should be noted that compliance with such requirements makes it possible to issue a mortgage at a more profitable percentage. In addition, the size of the down payment can influence the interest rate. The more you can make initially, the cheaper it will cost you borrowed money.

    So, how to buy a mortgage? If you have made this responsible decision, then first of all you need to familiarize yourself with the conditions of the banks existing in your city and select the most suitable ones.

    Concessional lending

    At the moment in Russia there are several programs of preferential mortgage lending. Consider them all.

    • Benefits for payroll clients. If you receive a salary on a card of a bank, then you should ask about its mortgage terms.Most banks make loans to similar clients and do not require proof of income, which saves time on preparing documents.
    • The program "Young Family" allows you to receive a state subsidy of up to 40% of the cost of housing. Participation requires spouses or parents from an incomplete family to be no more than 35 years old, the fact that the family needs improved living conditions and income sufficient to repay the remainder after partial payment of housing with a subsidy. It is important that this program is valid until 2015. Often, banks offer special conditions for young families with reduced rates. The use of maternity capital is also allowed.
    • The military can get subsidies under the mortgage savings system. To do this, you must be a member of it, have the appropriate certificate and be no older than 45 years. The minimum loan term must be at least 3 years, and the loan amount must be at least 300 thousand rubles. The interest rate directly depends on the age of the serviceman and varies within 9.75-11.25%.
    • Researchers, teachers of universities up to 35 and doctors of science up to 40 years can take part in the program "Young scientists". Credit to these borrowers is provided at a rate of 10-10.5%. Down payment is only 10%.
    • Teachers can receive loan discounts from 2012, although in some regions of the Russian Federation this exemption has not received distribution due to the inertia of local authorities. This group includes teachers under 35 years old. The rate is 8.5%, the down payment is subsidized from the budget.
    • Developer programs also allow you to take a mortgage at a special rate. The main condition is the purchase of housing in the primary market from a partner company of the bank.
    • Investors and customers with a good credit history can also expect a reduced percentage. The bank is interested in keeping a bona fide customer and gives him a discount. However, you need to be careful - depending on the initial rate, the offer may not necessarily be the most profitable.

    Stages of registration

    When you have decided on a mortgage option, you can begin the process of its registration. It can be divided into several stages.

    1. Collection of necessary documents and application. This is advisable to do before you find suitable housing. The bank will consider the application and notify the limit that it can provide.
    2. The choice of real estate. It is possible as an independent search, and with the help of a realtor.
    3. Property valuation.Carried out by a specialist.
    4. Obtaining an insurance rate, that is, confirmation that the property is insured.
    5. Getting a final answer on the mortgage.
    6. Make a deal.

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