Mortgage helps significantly increase collateral to secure credit to the bank. Mortgage implies the provision of cash to the borrower to purchase an apartment or something else. For a mortgage, you can mortgage not only houses, but also other property, such as yachts, land and cars.
The property that was bought with a mortgage automatically becomes the property of a resident of the country who took out a mortgage. Earlier in order to get a mortgage, it was necessary to make at least one cash contribution, but recently you can get a mortgage without any money deposits.
In the Russian Federation, a mortgage loan is very often used to purchase housing. Under the mortgage in most cases, the purchased housing is being built, but you can also pledge your already existing real estate.
In Russia, the mortgage has support at the country level, which repeats all mortgage laws, and has a mortgage specializing agency.
The value of making the first deposit can be from 0% to 90% of the probability of obtaining an apartment. But mostly for mortgage loans people who have little or no cash need for initial investment, or people who do not have money for all kinds of deposits.
In general, there is a huge number of types of mortgage loans, so each borrower choose a mortgage with a minimum deposit amount or even with its absence.
Mortgage without making an initial payment is in great demand among residents of the Russian Federation who want to acquire their own dwelling. To such borrowers certain banks are happy to give a loan for any amount of money. Basically, the value of the loan is drawn up 70% -80% of the price of the housing area.
But, despite such generosity of banks, the amount of mortgage lending can hang from many factors, for example, such as the period for which lending will be calculated, and the mortgage program is provided in the bank you have chosen.
Also this type of mortgage loan is suitable for people who already have their own housing, but want to purchase more affordable and new housing. And in that case if you want to take a mortgage loan under your existing real estate, then you need to know that the mortgaged property should be located in the same city as the bank chosen for the loan.
For registration of a mortgage in the absence of the initial deposit, you can use at once two kinds. The first loan you can issue on the security of your own property, you can apply for a second loan in order to secure the housing you buy.
You can apply for the first loan in order to make an initial payment. Almost all banks that issue loans specifically establish a mortgage program in their institution, this is done in order to have a higher probability of obtaining two loans at once. But it is worthwhile to understand that such a credit program has rather high interest.
If you want to save your money, then it's best for you to make a loan in various financial institutions.
Also, the most common type of mortgage lending is the registration of ordinary consumer credit. You can use this kind of lending if you do not have real estate under collateral. In order to make an initial payment you need to take money from a previously taken consumer loan, which has no target character.
When you make a loan, you must take into account some of the disadvantages that may arise in concluding loan processing.
- When the bank is going to give you a consumer loan, then it will be guided only by the official income of its borrower, in other words, if your profit is documented.
- In general, consumer loans are issued for shorter periods than mortgage loans, and from this it can be concluded that the terms can affect the amount of money taken, while the borrower can take a loan in a smaller amount than a mortgage.
- A bank that issues monetary funds to a borrower can set a limit on the issuance of a loan. If you are going to take a consumer loan amount that exceeds 300 000 - 500 000 rubles, then in this situation, the bank can ask you to pledge property.
This type of loan, as well as all the others, can be issued through the Internet.
In order to make a mortgage you can use the Internet. To do this, you need to go to the bank's website and issue the required questionnaire of the borrower, in which you need to provide complete and reliable information. After you issue an order to receive a mortgage through the Internet, your documents will be carefully checked for authenticity on their own credit bases. But be aware, if you provide untrue information to the bank, then in such cases you may refuse to receive a mortgage.
Getting mortgage lending on the territory of the Russian Federation every year is becoming more developed. Now you can get such a loan in any locality in the country. For example, in Nizhny Novgorod, you can get a mortgage without an initial installment in thirty banks, and each bank has up to eight different programs for lending.
In Moscow, you can now get a mortgage loan in 48 banks that provide their borrowers with about 440 loan programs, so in the capital you can find a bank to get a mortgage, which will suit your requirements. And in order to get a mortgage in St. Petersburg without an initial location, you need to apply to banks with a functioning mortgage system, since similar banks provide about 300 loan programs.
Before you use the loan, you need to think about everything well, and also think about whether you can pay mortgage payments every month. In cases where you can not repay a loan, it is better not to risk any collateral or purchase apartment. And remember the most important thing, it's quite easy to take a mortgage, but you still have to return it.