How to take a mortgage?

Assess your capabilities and all the risks that may arise along the way

From the very beginning, calculate your monthly expenditure of funds and necessarily subtract mandatory income from them. And in this way, you can get an accurate estimate of the monthly mortgage payment. But it is necessary to remember that the bank takes into account only the confirmed incomes, that is all those incomes, which are confirmed by the certificate of income. And also in each bank there are certain requirements to the norm of financial income when issuing such loans.

Mortgage has a long history, therefore it is necessary to assess all possible risks that may arise during the use of the loan. But it is necessary to note only the most important risks that occur most often.

Temporary loss of work by you or your family members, who most often act as guarantors.

Divorce. Therefore, if a mortgage loan is taken to purchase an apartment in a joint ownership, then in the event of a divorce, such property will be considered jointly acquired, and both spouses will have the right to it. And an excellent option is to purchase an apartment using a mortgage in a shared ownership.

Choosing a bank to obtain a mortgage

Each existing bank has its own specific requirements for the borrower, that is, the conditions for issuing a mortgage. But since a mortgage loan is issued for many years, it is recommended to choose a stable bank that can fully guarantee its efficiency.

In addition, you can pay attention to banks that specialize in issuing mortgages.

When conducting consultations in several banks at once, be sure to pay attention to the attitude of the bank's employees to each client, their competence, the speed at which they receive an answer about the authorization or the prohibition of issuing mortgages in this bank.

What are the most important mortgage parameters?

Get the following information from the bank you are interested in:

Find out what package of documents is needed to obtain a loan.

Learn the additional terms of the bank, for example, insurance, property rights and so on.

And be sure to find out if the bank has a specialized program for restructuring debts on mortgage payments, and if they are, you will receive detailed information about them.

Be sure to carefully study the contract, before you sign it

Be sure to read the entire agreement for obtaining a mortgage loan. And most importantly, all terms and conditions must be clear and understandable to the borrower, since otherwise there is a possibility of unpleasant situations.