How to easily take a mortgage: a review of articles on mortgage lending from the portal Credits
It’s worth figuring out all the mortgage nuances even before the deal is concluded, and a selection of articles on housing loans from the Credits portal will help with this. Among the top topics are obtaining a deferment of the birth of a child, analyzing the reasons for refusing a mortgage and applying for a loan for a country house. All answers and details are in a brief overview.
The content of the article
1. Why did not give a mortgage?
The article identifies the main reasons why banks refuse to issue a mortgage. Not always a "snag" in a small income - often financial institutions do not want to make a deal with employees of certain professions. Each organization has an unspoken professional “stop list”, but almost always it includes people with unstable, unstable and officially unverified income. We are mainly talking about individual entrepreneurs, realtors, notaries, military and judges.
To increase the chances of approving a mortgage, it is worth examining the requirements of a particular bank for borrowers. Often, in addition to a strictly limited age, length of service, registration and citizenship, guarantors and an impeccable credit history are necessary. It is important not to be blacklisted at either the interbank or interbank level. If the bank refuses to issue funds and does not comment on this, then you have the right to require detailed explanations.
2. How to get a delay in mortgages at birth?
Is there a delay in the payment of mortgage payments when a child appears? Yes, replenishment of the family gives borrowers the right to get a break and pay off a real estate loan a little later. Each bank has its own conditions for suspension of payments, but more often a certificate of the baby’s birth, documents confirming a decrease in average earnings, and a completed statement of desire to take a break are enough. Whether the application is approved or not depends on the pliability of the credit institution, the presence of delays and solvency. With the latter, the situation is that the lower the monthly income of the applicant, the higher the chance of receiving benefits.
An article on Credits describes the application process. It's simple: we collect documents, contact the bank, wait 1-5 days and find out the decision of the financial institution. The grace period usually equals maternity leave, but there are exceptions. However, you should not think that the borrower is exempted from all payments: you still need to pay interest on the loan. The financial burden will decrease markedly, but it will not do without consequences. The fact of the suspension of repayment, which is considered a restructuring, will be recorded in the credit history and will cause difficulties with further lending. Also, do not forget about overpayments: the longer the debt is repaid, the more accrued per annum over the debt.
3. Credit for the "house in the village"
The article will help to understand the mortgage for suburban construction. This lending option is suitable for those who do not want to buy a ready-made “box” from a cottage developer. Not all banks can boast of a separate housing lending program for independent construction of a private house, but many offer a loan on the security of an existing apartment or for any purpose. The conditions for granting money vary widely, but there are general characteristics: maturity - up to 15 years, entry fee - from 20% and annual from 12%.
But banks are reluctant to go to the "suburban mortgage" in its purest form. The reasons are a difficult assessment of the cost of the site, the riskiness of self-construction and the high cost of preparing related documentation.Banks are not attracted by the likelihood that, given financial difficulties, it is easier for a borrower to sell a land with construction in progress than to fight for real estate and repay the entire loan. The small demand for “land” programs also matters. But leading experts predict a change in the situation to which credit organizations will "respond" with a mass of special offers on "country" loans.
To make the mortgage easy and not bring financial surprises to the family, it’s better to deal with the nuances of obtaining a loan in advance, to “break through” the most advantageous offers and to insure yourself with deferrals and insurance. This and other information is regularly updated in the news and materials on the Credits portal in the "Articles" section.
