What you need to know before you take out a mortgage

Mortgage - is a big responsibility. From a conventional loan, it differs in that as a guarantee of the deal here is the real estate such as apartment, house or land. Heroine will tell you what to look for before you make out a mortgage in order to have time to make payments and avoid the risk of losing the property without any problems.

Gather the necessary documents

Documents to be submitted for the registration of the mortgage can be divided into 3 groups: mandatory, subject to availability and additional, which can vary depending on the bank. It is mandatory you should bring the following documents:

• Application form for a mortgage;
• passport;
• A certified copy of the work book;
• An employment contract;
• proof of income;
• The certificate of state pension insurance.

If there should also bring military ID, driver's license, educational certificates, marriage certificate or its dissolution, marriage contract, birth certificate of children and help the accumulation of funds in the contribution.

If the bank considers the submitted documents sufficient to issue a mortgage, it may request references that confirm the presence of expensive property or bank statements.

to assess their lending capacity

If you have decided on the approximate cost of housing, and you know how much money you will take on credit, take advantage of mortgage calculators. So you will be able to predict how much money will be put off by the mortgage, and you will avoid possible delinquencies. Based on the amount of down payment and the term of the mortgage payment, the system will show the best offer from banks with a minimum interest rate and how much you have to repay each month for the apartment. Also worth checking your credit rating and the current presence of fines - it will be taken into account when assessing the reliability of your decision and to issue a mortgage. Calculate mortgage

Check the history of purchased apartments

If you buy an apartment in the secondary market, it is essential to check the purity of the transaction. In order to get information about the owner to sell the apartment and the property of its history, including property disputes and seizure, take an extract from the Unified State Registry of real estate or from the house. It is also worth asking the owner of the list of documents in the apartment - this may be evidence of inheritance, contract of sale, donation or annuity contract.

to explore the most favorable credit program

Do not rush to go to the ground was on hearing the bank. Explore options of mortgage lending programs and choose the one that will be most beneficial to you. Also, check with the bank employees, if you can arrange a mortgage on favorable terms. It concerns a mortgage for newly families, young professionals, military and scientists. We should not overlook and payment methods - much easier when the bank is close to home, or provides the opportunity to put out a monthly premium through online services.

carefully read the contract

Carefully read every document before you sign it. Especially pay attention to the items on additional costs and those that are written in small print. It is desirable to find a sample of it before signing the mortgage contract to know what you expect, and to be thoroughly prepared.

the upper part of the mortgage money

Do not forget that you're supposed to tax deduction of 13% of the cost of housing, and in addition - with the interest paid on the loan. To do this you need to collect the necessary documents confirming the conclusion of the mortgage contract and the transfer of a certain amount of interest for the passed year. After verifying the data provided by the tax office will transfer the money to your account, you need to provide details of which, together with other documents. Arrange a mortgage on favorable terms you can with the help of a brokerage company "right solution", which is the official partner of the 46 largest banks in Moscow. Here you will help get a bank loan with minimum interest rate, even if you have bad credit history. Just send a request, and the company's specialists will be with you for 5 minutes. When it is determined in due course, if desired, they will come to you to pick the most favorable mortgage options for you.

You do not have to communicate with representatives of the banks and run around to collect the necessary documents of the organization - "right decision" takes these responsibilities themselves. You will only need to come to the bank to get money and to pay off now.

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