Buying a home is an important stage in the life of any family. Unfortunately, many people cannot afford to pay in full for living space. Then the mortgage comes to the rescue. It would seem that, unlike a loan, it is more profitable - the interest is lower, the terms are longer. But in fact, it is profitable to take a mortgage only in some cases.
Instructions
Step 1
If you exchange
If you already have a home, you can exchange it for another, more spacious one. Then you will be able to pay more than 50% of the cost of a new apartment, and monthly loan payments will not hit the family budget hard.
Step 2
If you are a young scientist
Then, in accordance with the federal program, you are entitled to a more “lenient” mortgage regime. So, the loan amount will be 30% more than the income allowed, and the rate will be lower (about 10%). Initially, you will be given a low monthly installment with a gradual increase.
Step 3
If you are a teacher at school
The Young Teachers program is designed for teachers in non-private schools. A fixed rate of 8.5% is provided for you, moreover: the state compensates for the initial payment (up to 20% of the loan amount).
Step 4
If you are a soldier
At the very beginning of the service, you can take housing under the Military Mortgage program. The initial contribution and payments will be made by the state.
Step 5
If one of the spouses is under the age of 35
Then you are eligible for the Young Family program. Banks offer reduced interest on a loan, a lower down payment, the possibility of deferring loan repayment, using the mother capital as a down payment or early repayment of the loan.
Step 6
If you have passive or third-party income
For example, interest from a bank account, passive income from investments or participation in affiliate programs, income from a home business or part-time work, income from rent. The main thing is that these incomes cover at least 75% of the monthly bank payment.
Step 7
Unless major changes are planned
For example, buying a car or having a baby. As a result, your income may drop sharply, and interest will "drip" on the mortgage.
Step 8
If you can pay at least 20% of the cost of the apartment
It is this threshold that banks usually declare when lending. If you do not have initial capital, you will most likely be turned down.
