Monthly Archive: January 2020

How old can the borrower be to get a mortgage?

Each institution approaches the borrower’s age individually, thanks to which even older people can count on the loan, who provide for the repayment of the entire liability in a short time, not exceeding the maximum age set by the bank.

In the case of a cash loan or a car loan with a maximum repayment term not exceeding 10 years, the maximum age of the borrower is not significant. But what if an elderly person applies for a mortgage? Can I apply for a loan for an apartment or house if I am 50 or even 60?

Mortgage – what you need to know about it

Mortgage - what you need to know about it

The mortgage is a targeted offer that offers help in buying real estate, which will also be a collateral for the entire loan. The commitment allows you to pay between 80 and 90 percent of the value of the apartment or house, both on the secondary and development market. Due to the current law, a customer who is determined to buy an apartment with the help of financial debt must show their own contribution. If the borrower cannot cover 20 percent of the property value, it is possible to take advantage of low own contribution insurance.

The mortgage has a very long repayment period, which can reach up to 35 years. This is a great help for the future borrower, who can significantly reduce his monthly installments in this way, while increasing his creditworthiness.

Conditions for obtaining a mortgage

Conditions for obtaining a mortgage

The conditions for obtaining a loan for an apartment differ from those you may know from other services. Due to the high amount of the liability and high credit risk, the mortgage requires a number of customer verifications, as well as the provision of numerous documents, which will be confirmed, among others all terms of the contract for the purchase of a flat or Casa, Lar. The bank will require you to wait a few weeks for a credit decision, due to a thorough check of your creditworthiness and credit history.

A mortgage for a single, or maybe a loan to buy a home for a marriage? All individual conditions of the borrower will be relevant when preparing the loan offer by the bank.

However, what do you need to remember before you apply for a mortgage? The bank will require from you some basic data, including a statement of earnings, as well as information from the employer about the form of your employment and continuity of work.

It is also worth taking care of what will be included in the BIK report, which will illustrate your debt history. The bank will take into account whether all your debts have been repaid and whether the repayment has taken place regularly. Any liability that will continue to debit your account will reduce your creditworthiness.

A mortgage condition is also the payment of own contribution, as well as the use of mortgage insurance, and often also a life insurance policy. However, what will you learn more by reading about mortgage collateral?

An important condition for obtaining a credit consent is also the age of the person who submits the application for financial commitment.

How much does a mortgage cost?

How much does a mortgage cost?

Mortgage loan, thanks to accurate customer verification, as well as securing debt allows you to avoid high costs. A loan for an apartment is the cheapest financial liability available in the standard offer of banks, it is worth using it.

Do you want to know exactly the APRC of available debts? In this respect, the mortgage ranking found on our website will be great. Thanks to it, within a few minutes you will find an offer that will be attractive to you in every respect. In the ranking, apart from the interest rate, margin and total cost of credit, you will also learn about other terms of the offer, including whether the bank requires a life insurance policy and how long the repayment period foresees. This is some information that may be of great importance to you when choosing an offer. By devoting time to it, you can save up to several thousand dollars on paying off all your debt.

How to get a loan without formal employment: a list of banks

Informal engagement with decent wages today will come as no surprise to anyone. Employers are in no hurry to pay taxes, but they don’t want to lose good employees. However, informally working experts face a number of inconveniences.

First, it is impossible to take out a loan from a proven financial institution. However, it is still possible to borrow money. Where can you get a loan without formal employment? A list of banks is shown below.

What should be done?

What should be done?

In most cases, in order to borrow money, you need to present three documents: a passport of a citizen of the Russian Federation, an identification code and an income certificate.

The last document is not always required. At the same time, when a loan is issued for a small amount, the customer must provide the business phone number in the application. A loan officer can call and clarify whether an employee is employed.

Some financial institutions are still taking risks. It is possible to get a loan without formal employment and a guarantor. The list of banks that offer this service is small, but the customer has a choice.

When deciding on a deal, you should consider a number of points. First, there are higher interest rates. The financial institution is therefore reinsured. Second, you need to understand that without an income certificate, it will not be possible to receive an impressive amount.

The financial institution has a good rating and is popular with individuals

The financial institution has a good rating and is popular with individuals

It offers favorable conditions for different population groups. You can apply for a loan without employment. The list of banks that offer this service starts exactly with Good Finance.

Loans of 16.9 per year are granted to customers with official employment. But those who do not submit a profit and loss account receive an offer on less favorable terms – at 26.9% per year. At the same time, the maximum amount that can be borrowed is 200 thousand dollars. The maximum loan period is 2 years.

How do I get a loan without formal employment? A list of banks “Good Finance” does not start randomly. Customers who have previously worked with financial institutions and have concluded deposit insurance contracts can be served hereunder loyal conditions.

Where else can you get a loan without official employment?

Where else can you get a loan without official employment?

The bank list goes on to the financial institution “Good Credit”. It offers a variety of conditions for individuals. You can take the amount of up to 700 thousand dollars. The minimum rate is 13.9% per year. However, such terms are offered to customers who have submitted a full package of documents. In addition, a guarantee for amounts over 200 thousand dollars is required.

What are the conditions for those who do not have an official job? Good Credit Bank offers such customers to purchase an amount of no more than 200 thousand dollars at 19.9% ​​a year.

The maximum term is 45 months. An overpayment under such an agreement will be very high. Such a deal will benefit those who need money here and now. If you pay the debt for several months, financial losses are negligible.