Mortgage lending has made it possible for many people to purchase a home. However, it is not uncommon for borrowers to face unexpected difficulties in obtaining a loan. Sometimes these difficulties are so frightening that people abandon the idea of taking out a mortgage.
Instructions
Step 1
The mortgage lending procedure is actually quite simple. It is no coincidence that in many countries of the world it is the mortgage that is the most popular way to purchase housing. Of course, in Russia there are certain nuances, for example, a rather high loan rate by world standards, but, nevertheless, a mortgage loan can be easily obtained here as well.
Step 2
First, you need to understand how much you plan to take out a loan. Subtract the amount of the initial payment from the cost of the desired apartment and then proceed from the result obtained. Now you need to determine the amount of the monthly installment, and, therefore, the required total income. There are many services on the Internet, the so-called "mortgage calculators" that allow you to calculate loan payments based on the conditions of the bank. It is desirable for the total income to be two to three times the monthly payments.
Step 3
The next step is to choose a bank that is ready to provide a loan. If a significant part of your income is "gray", that is, unofficial, then it is better to look not for the institution where the loan rate is minimal, but the one that is more likely to satisfy your appeal. It is better to prepare documents at once to several banks so that, in case of refusal in one of them, you do not have to go through all the preparatory stages again. Please note that if you indicate an income that is clearly inflated for your position, then the loan officer will be alerted, which means that the chance of getting a loan will decrease. Also be prepared for the fact that the bank security service will call you at work with questions about your earnings.
Step 4
An apartment itself plays a significant role in making a decision on a loan. Do not mess with obviously problematic housing. For example, if the owner of an apartment owns it by a court decision, if the apartment is inherited, if its owner cannot personally appear at the conclusion of the transaction, then, most likely, the bank will refuse you a loan to buy this particular apartment. Also note that when selling a home purchased less than three years ago, there is a tax on income of 13% of the amount in excess of a certain amount. Naturally, the owner of the apartment will not be eager to pay it, problems may arise, so it is better not to consider such apartments at all.
Step 5
To obtain a mortgage, you can use the services of a mortgage broker - a specialist who helps in the preparation of all documents, filing an application with the bank. In addition, he can advise you on which banks to contact and why. It is important to choose a truly professional broker with extensive experience in the market, a fairly narrow specialization, support of a real estate agency. Please note that not a single mortgage broker has connections and influence in the bank, he just knows the laws and internal rules of credit institutions well, so if you have already been refused everywhere, then you should not count on a miracle.
