Many married couples are thinking about taking an apartment on a mortgage. However, for this, many banks require an initial payment, which is often more than the amount that customers are willing to pay. From this, the housing issue has not disappeared anywhere, so people are thinking about how to take a mortgage from a bank without a down payment.
Instructions
Step 1
The first way to take a mortgage from a bank without a down payment is a special loan program. There are banks that issue loans for the purchase of an apartment at 0%. These are special programs for young families who do not have a large amount to pay the first installment for an apartment. The problem with such a program is disadvantageous conditions. Often the client is required to submit a statement confirming the person's income, as well as to find a guarantor. Also, the bank can provide a limited loan amount. It should be noted that a low rate for this type of lending is not typical. In most cases, mortgages are provided at 12-20%. At the same time, customers also pay a commission for the issuance of funds.
Step 2
The second way to rent an apartment with a minimum deposit is to mortgage the property. If the client has real estate, then a new mortgage can be taken on the security of this property. A house, apartment, land plot, as well as other objects can simplify the procedure for taking a mortgage at a bank without a down payment. It is also worth taking a targeted loan for an apartment. In this case, the percentage will be minimal. In addition, if the client's relatives have real estate, then he can take out a loan secured by their properties. This method is absolutely similar to the previous one. You can also use the property of friends and other people who agree to this.
Step 3
The third way is to take a consumer loan to pay off the first installment. First you need to find out the price of the future apartment and determine the amount of the down payment. You can take a cash loan for this amount. The main thing in this case is to correctly calculate the loan amount, as well as take into account your strengths, because you will have to pay immediately for 2 loans.
A mortgage loan without a first payment is a rather rare occurrence that still occurs. However, do not despair, because you can always find a way out. These tips will help you get a bank mortgage without a down payment.
