Mortgage for young family
Sale is the dream of thousands of young spouses that feed hopes to start a family on the solid Foundation of their own homes. Mortgage lending for house purchase is often for young people the only chance to have a cozy home to a still pregnant wife or have younger children.
And the sooner we get the chance, the better for close — distress, contrary to the adage, often brings to the offense, not to mention the sanitary-hygienic norms.
In different cities of the CIS countries of the area differ, but a situation in which you and your children have to live on 10 square meters per person, and you need to fix.
Non-government mortgage for a young family
Housing loans government on concessional terms may not be profitable, because the Treasury pays for you mortgage almost a third of the debt. However, to get the government loan is very difficult, given that the program is based on the principle of the queue.
The pair may miss their youth, waiting for the time when you can take advantage of preferential credit for housing.
Mortgages for young families as a special credit product or additional line exists in some private banks. When deciding which Bank is better to take a mortgage, looking not only loan with lowest interest but to the possibility of expanding the program at the expense of the special conditions, and this is the fact a young family.
For example, Sberbank provides loans for housing for a particular program, but if you have a suitable age and family situation, you will get the most beneficial and flexible changes to the contract.
Peculiarities of mortgage of the savings Bank "Young family"
Take advantage of a mortgage of Sberbank can a family in which one spouse is under 35 years of age at the time of conclusion of the contract (public offer — up to 30 years). Also discusses options for single-parent families, while one parent with children, a young mother or father, must be at least 21 to 35 years.
Unlike the state program, the co-borrower can make the parents of the young couple — one or both. Since the loan amount depends on the size of earnings, the contract with a co-borrower increases the customer's solvency and, consequently, growing the maximum amount of the loan.
Contract mortgage "Young family" 2014 takes into account the circumstances of clients ' lives. For example, if the loan is granted at an individual building a home, you can take advantage of the deferral of principal repayment up to 2 years. But the interest on the loan still to repay would have.
Similarly, you can arrange a payment holiday on the occasion of the birth of the child for a period of 3 years. Interest, as in the previous example, be sure to repay plus loan term is extended for 5 years.
In 2014, the first payment on the mortgage for a young family is not 15, but 10 %, provided that the couple is not childless.
On what to look for in a mortgage
The period for which you can apply for a loan is usually 15 years, but this condition can be changed to 30 years. Most importantly, that focuses on the Bank when making a mortgage is the solvency of customers and credit insurance.
For its part prepare as thoroughly as possible all documents and certificates showing your income. The more sources you will be able to confirm, the better. But with one you get a good chance, if your certificate will show a picture of the stable, and better to have a bit of growing income, for example, over the last 12 months.
Carefully study the composition of its future payment of the loan. Might interest you want, but insurance is too large or the initial payment does not meet your expectations.
Mortgages for young has not yet put on stream (and this is unlikely to happen), so you may want to offer to the Bank to make some changes in the terms of the contract.
Of course, the chance to significantly reduce the amount of small, but something to save it's possible. Don't be afraid to be persistent, because this loan you have to pay for many years "and in sorrow and in joy", so use the situation best to their advantage.
Your actions to getting a mortgage:
- apply for a loan in the Bank;
- there will be a list of documents and information that you need to prepare;
- the documents collected tell your loan expert at the Bank;
- expect messages about the Bank's decision if you are refused, look for another Bank;
- if a decision on your question is positive, go again to the Department for registration of the contract;
- carefully read and discuss the agreement with the expert;
- sign a contract, get credit, use it for other purposes.
Choosing option agreement, keep in mind that the most attractive interest rates you can expect when financing second homes, or newly built housing cooperative.
At independent construction of a country house or refinancing an existing loan project disappear some advantages: reducing the initial payment by 5%, making a contract without commissions, etc.
Before you make a choice in favor of either option, carefully weigh all the "pros" and "cons" and only then you will find inevitable success!