Mortgage and apartment.
The purpose of the borrower no mortgage, but apartment. This mortgage is a means to an end. Virtually every paragraph narrative we would expect their machination. The result is that for the mortgage banks importantly, the apartment is seen by banks as a pledge, that is, as a way of ensuring compliance. You may have noticed that at the table of contents of each item is "underwater pebbles", which in one way or another connected with the concept of "mortgage". Apartment is your ultimate objective of obtaining a mortgage, but it is not the goal of the bank!
Somehow the "mortgage underwater" not attach special significance, while others - can undo all previous steps in achieving the goal.
So let us look at all the conditions and stages of the mortgage a mortgage with a critical point of view.
It is already in the selection of the bank must take into account that there is a mortgage on terms you can make an impact, but there are conditions mortgage, which you can not influence.
The first step. First pitiful.
I suggested that you start with realtors and mortgage broker (often in one person), so you had a reliable assistant and ally. Realtors and mortgage broker you choose.
At the same time, everyone else chooses Bank. (Bank selects and appraisers, and insurers, and the need for a notary, and the way to transfer money, including specific depository. mortgage At these conditions you will not be able to affect. Is that the estimator choose one of two proposed bank, or choose one of two insurers offered by the bank.)
But! Too few realtors while working with mortgage customers. Great running on the likelihood of such who have only a theoretical idea of what such a mortgage. Apartment, chosen such rieltorom may not satisfy neither the bank nor the insurance company and the pleasure of buying-delayed for a long period. The benefit of any such realtors.
Step Two. Pitiful second. Bank sees you.
In what the bank will go? At that where space interest? And in what form you get the money, intended? A must wonder: Some banks offer money to the transaction in bumazhkah, and some lists at the expense of the seller when the seller sell the apartment. Imagine for a moment that you are the seller. You sell the apartment without seeing the entire transaction to the amount of money?
Step third. Pitiful third. Looking for an apartment.
Flats you find it easy, but whether this apartment suit your bank?
That is, you must select an apartment, taking into account all the requirements of your bank.
Step Four. Pitiful fourth. Evaluation.
Evaluation of the apartment is also a necessary condition for mortgages, but can be evaluated differently.
Example:
You are searching for an apartment, find, as you think, the cheapest of 100000. Based on your income bank willing to give you a loan 90000. The remaining money you have.
And what if the appraiser assess your apartment is not in 100000, and 90000?
The Bank will give you credit 90% of the cost of an apartment, but not from what you pay, but from the one that called the appraiser:
90 000 X 90% = 81 000
You expected 90000 loan, and you give 81000.
And where to get the 90000 -81 000 = 9000?
Step Five. Pitiful fifth. Apartment Approves Bank and the insurance company.
Apartment found, the documents collected and sent for testing in the bank and the insurance company. Keep in mind that you are willing sellers apartments seen as a buyer only when reaffirm their desire to buy a flat payment of a sum of money.
Amount symbolic, as compared to the value of the apartment (of the ruble equivalent of $ 500 and 10% of the value of apartments). But if the documents in order, but this apartment, for whatever reason, are not happy with your bank, you could lose the money that made vendors as a prepayment.
It must also be noted that the documents in the apartment was considering not only the bank, but also the insurance company. Accreditation of a bank insurance company is also a prerequisite for a mortgage that you can not influence. Some banks are working with several insurance companies, and then a borrower has a choice: where the insured, where the insurance deal, and the apartment, while some banks are working with a single insurance company.
If the documents are comfortable Bank, but not satisfied with an insurance company, the two options are possible:
if the Bank is working with several insurance companies, the borrower can apply to the other: all of a sudden one insurance company refuses to insure, and the other ensures that?
if the bank is cooperating with the sole insurance company, its refusal to insure, the bank will automatically mean the refusal to issue credit.
Therefore, you must clear about what points could not arrange bank and collaborating with the insurance company. Better before in a specific bank contact.
Step six. The credit agreement.
Mortgage only one that your choice: either sign a contract in the form in which you can give (or receive money under the terms and conditions mortgage, which offers the bank) or not to sign (and the money is not available). Sometimes, in the credit agreement inserted such items, it is better not to sign such a treaty. Argue with the bank on the day of signing a treaty that does not suit you removed items practically useless. So even when choosing the bank to become more familiar with the loan agreement fish photo you bank.
Step seventh. Progress pitiful. Money.
The issue seriously and will be devoting a separate page.
Step eighth. Notary certificate.
Need a notary selects Bank. If the bank insists that the permit was Notary transaction or mortgage-argue useless: it is also "mortgage condition." In doing so, the notary also defines a specific bank.
Step ninth. The state registration.
Step tenth. Insurance.
Sometimes this step precedes the transaction. And if you refuse to insure the insurers, for example due to the state of health?
That happens sometimes, too.
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