How to take a mortgage on the secondary housing in 2019

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Banks offer different mortgage programs. Consumers who need new housing can choose a suitable program and buy property in the secondary market. Keep in mind that banks have strict requirements not only to borrowers, but also to real estate.
There are many banks and you should choose the one that offers the most favorable and suitable conditions. You must provide a package of documents, having examined which bank will make sure of your solvency. The ability of the borrower to repay the debt is the most important aspect when deciding whether to issue a mortgage loan.
Choosing a bank, write a statement on the issuance of a mortgage. As soon as your application is approved, feel free to start collecting the necessary documents and look for a new apartment. By choosing a suitable home, report it to the bank that will evaluate it and insure your home. This is followed by a procedure when money is transferred according to the established scheme.
Usually it looks like this: you pay the down payment, after which the bank purchases the apartment. You enter a new home and start paying the bank a certain amount and interest due every month. It is best to buy property in brick houses with reinforced concrete floors. Before concluding a contract, you need to impartially assess your financial capabilities and understand whether you can pay a mortgage loan.

What documents are required

The following documents are required for obtaining a mortgage: passport of the Russian Federation (copy of all pages), information on income in the form 2-NDFL (copy and original), application form, employment record (two certified copies). Contractors are required to provide a certificate of service and a contract (each document has two certified copies), a pension certificate, permission to process personal data. Men of military age need to provide a military ID (with a copy of all pages).
It is better to clarify the list of documents with a bank employee, or on the organization’s website. This will save time. If you are a private entrepreneur, then the package of documents will require the introduction of several more types of papers.
In addition to these documents, we need documents for an apartment, which is bought with a loan. You will need to collect: copies of the seller’s passport, documents for owning a living space, certificate of persons registered in the apartment; a copy of the apartment’s passport, the original housing appraisal certificate (issued by the appraiser), and the certificate of the appraiser. Also required is a document on the absence of charges from the Federal Registration Service. In addition, sometimes the bank may require the presence of guarantors as an additional guarantee of your solvency.

Video: Get A 15 Year Mortgage Or Save To Buy A House With Cash?

Explaining Mortgage | by Wall Street Survivor
How to take a mortgage on the secondary housing in 2019

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