Problems associated with the mortgage
Posted on Oct 7, 2000 08:15:27 AM
Today Mortgage lending has become increasingly popular among the population. For many families, the mortgage on the house becomes the only possible way to buy an apartment in the credit and play a housewarming party. In general terms the program of mortgage lending are wide enough and acceptable, there are many agencies, mortgage banks that are willing to make mortgage payments, but, nevertheless, at the time of purchase apartments on credit, prospective homeowners may face some mortgage problems.
1. The very high rate. Moreover, if the dollar is still somehow comprehended (10-12% – this means that the ten-credit customer will pay slightly more than half the size of the loan as a percentage), the rate in rubles (15-18%) is quite unbelievable – the ten-credit borrowers have to pay the amount is bigger than the sum of the loan, and for 25 years (if, suddenly decides to take credit for this monstrous time) – more than 2.5 only the size of the loan in interest.
2. A huge number of documents to be submitted to the bank to consider an application for a mortgage loan. Minimum set of documents contains not only the documents on education, income statement, certified copies of work books, but also information on the ownership of real estate or other valuables, information about other income, giant forms, and all this not only for the borrower, but also for his (her) wife (husband), which according to our laws automatically become a co-borrower. And this is in the ideal case, when the entire salary is white, all the work, and not private entrepreneurs, and the bank does not provide special requirements such as certificates from clinics, power of attorney to obtain a loan, etc., otherwise, the number of inquiries multiplying avalanche . The average per beneficiary mortgage accounts for more than 30 documents to be submitted only at the stage of considering a loan, and that’s not all – there are documents specific to the mortgage, which will be required at the stage of buying an apartment.
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