Apartment Loans

Elena Malofeeva, director of sales subsidiary office and apartment loans, "the Bank" Gazbank: – 95% of our customers – young families. Typically, they come to us already being trained in the mortgage issues – know what to look for when making your credit well represent the entire procedure. They are familiar with terms and skillfully operate them, which facilitates cooperation, free from the need to explain basic concepts. Often, even the apartment they seek and find themselves without the help of real estate agencies and realtors. As it turns out, the young people under the age of 35 years and account for more than half of bank customers – borrowers on the mortgage, and, as noted by the bankers, their number has increased significantly over the past few years.

About 95 % Of requests from young clients to provide mortgage credit are met. The absence of serious prejudice and a willingness to go to meet young customers bank representatives explained by the fact that most of the of them are really willing to cooperate, which distinguishes them from representatives of the older generation or past clients. Young customers are different and the fact that this group of borrowers is very serious and careful consideration approached the question of a mortgage loan and buying an apartment, choosing the greatest service and quality, the optimum time of registration. This applies to the choice of credit to the insurer, appraiser, mortgage broker and realtor. Representatives of the banks' own features such as strokes made a collective portrait of an average young borrower: it is a professional, having a higher or specialized secondary education, working in a large foreign or Russian companies.

Real Estate Prices

Real estate prices are too high: if people bought the apartment only on their own savings, the market would simply froze. Mortgages becoming more mundane and neither Sellers nor the realtors are not afraid. Banks, in turn, realized that their excessive demands for the collection of documents hinder the process, and the excessive demands refused. Now needed about the same set of documents for real estate acquired in the mortgage or at his own expense. QUESTION 3 Is it true that differential payments on the loan more profitable than the annuity? This myth is in vogue recently.

Importantly, you need to understand – the method interest in both forms of payments is the same. Interest is calculated on the balance owed. Annuity (A) – is when the entire debt plus interest is divided into equal amounts for the monthly repayment. It is structured so that at first most of the amount goes to repay interest and less – on account of principal. Over time, the share of payments on the principal grows and the interest decreases. And all this within unchanging monthly payment. When the differentiated scheme (D) payments of principal every month remain unchanged, and to them added payments on accrued interest. In this case, at first they are so great that may exceed the borrower's income. But after the purchase of housing bore down a lot of other expenses – repairs, moving … Those who have coped with the first months of excessive stress on your budget, really overpays less than in the annuity.

Mortgages: No Downpayments

Mortgages with no down payment Imagine the picture: You walk down the street, to your approach is totally a stranger. In a rumpled coat, leaky boots and hair, to which is not touched by hand hairdresser at least 10 years. Subject, nothing daunted, reaches out and asks you in debt. Long, about twenty years. Your actions? .. On this question, we will not respond, but we define a counter, a rhetorical question: why did you decide that bank clerk will give you the money? For a bank clerk you are not a customer, you the same seedy subject, meet you on the street. Is there any reason to trust your money? Yes, no Mortgage initial fee you can get. But only those who can attest to its true "white" income.

Such that the bank believed in your ability to cover and debt, and interest on the loan. The rest of the evil one. Somehow I think that those who really can bring their own white income, the credit does not need. And if needed, then for sure on the initial contribution of such a person find the money without any difficulty. Why bank clerk should take against you in a positive solution, if you do not like to confirm their income – not really able to accumulate at least a small amount? Now the mortgage loans are fairly easy.

Even without a tax statement of earnings. In any form, but …. Just a down payment and is the important litmus test that shows to the bank credit to wealthy clients.

Ukraine Banks

This is despite the fact that the person employed from 9-00 to 18-00, there is only Saturday, but not all banks it working! If you add more credit unions, and market operators potrebkreditovaniya? This implies the emergence of the first prerequisite in the chain of "client-bank" of a new actor – a credit broker. The very notion came not from us, like many other things it has come from the civilized West. There has been rapid development banks and the same confusion in the proposals. At this point in the Western mills for help from credit brokers turn 8 out of 10 borrowers in the U.S. up to 80% of mortgage loans issued by mortgage brokers. Sooner or later This situation will be with us. At the moment, the ratio of loans granted by credit broker to the total number of loans granted by banks, and constantly growing. However, in the development of credit brokers in Ukraine there are several problems.

It is considered that the services of a credit broker used mostly troubled borrowers, or those who are just too lazy to spend time gathering information. In the minds of our borrowers still sitting purely psychological negative attitude to any kind of mediation. Undermine the image of the so-called "black brokers". Open the newspaper ads and you will see suggestions for the type "you everywhere refused a loan? 100% guarantee of obtaining the required amount! ". In this case you are not insured against fraud.

Way to obtain a loan in such a situation often lies through unscrupulous employees of the bank, machinations documents, etc. I think it makes no sense to talk about the possibility of permanently stained their credit reputation. For the bank, it also has negative consequences. Therefore, banks are very cautious approach to the issue of cooperation with credit broker. Only in exceptional circumstances are established contractual relations between credit brokers and banks. Availability of credit broker agreements with banks (not necessarily with one!) Is the most important criterion in choosing a credit intermediary. White brokers "are focused on long-term cooperation with customers and creating excellent business reputation. They work in accordance with established rules of the market. Very often, information on borrowers with some credit broker is transmitted through friends, acquaintances, and it is important to ensure maximum customer support and invite him to do the most favorable terms. Cooperation with this type of benefit brokers and banks. By and large, the bank is not so important, a man came himself or brought his broker. It is important to attract good new customers. Mortgage broker earns a commission of the bank. Usually it is from 0,5% to 1% depending on the amount of the transaction. There are a small number of credit brokers, which could, signing lucrative contracts with the banks having a large customer base and good reputation, afford to provide services to clients for free, without requiring them to material compensation. This scheme is most advantageous for the client, and as a consequence of this fact, has a tendency to more frequent use of its majority major credit brokers.

Municipal Loan

Mortgage loan modern Russian conditions for small businesses is especially important because allows to lose no time to acquire the necessary business real estate, without having the initial capital – on the security of this same (not owned by you) of the property. Documents evidencing the loan, a borrower gives the lender for a mortgage, said mortgage. Distinguish between private bonds and mortgage deed. Private mortgage – debt issued by a borrower (for example, mortgage banks) to the creditor and notarized. In private, the mortgage must be specified loan maturity, the value percent and the name of the property, the employee pledge. Giving out loans secured by property, mortgage banks are receiving loans from other banks, which provide a so-called mortgage deed – long-term loan repayment obligations under the mortgage of the property, which mortgage bank gets bail. Mortgage deed – a form of securities secured by real estate and in circulation in the market. Loan secured surety, involves a contract in which the guarantor undertakes to repay the lender the borrower's debt if necessary.

As this type of loan can serve as a guarantee wholesaler for retail, the manufacturer of goods for the merchant business for each other, etc. Special hopes small businessman holds the surety – the state. In some cases, state and federal Municipal authorities need to be very beginnings of small businesses in its territory, but do not have real means to stimulate this activity. In these cases, the authorities guarantee to banks it may be way out. (In this case you can say to the official: "This matter must be me and you.

I am ready to work. You are required cash contribution, but no money for that. So even if charged, but the money under your guarantee will give the bank. ") A special form of guarantee is mutual responsibility – mutual pledge to each other group of persons or entities. The loan, secured a written commitment – a key form credit. The most common form of a written commitment to a bill. Bill – a written debt obligation prescribed form. Owner notes (note holder) receives unquestionable right demand beyond the period specified in the instrument of payment specified in the same amount of money to the person issuing the bill (drawer). Noteholder has the right, without waiting for maturity to put the bill on the market (in turn). In this case, usually on the instrument is put in addition to the signature of the drawer has one or more signatures of persons, guaranteeing payment on them. Credit, cash-based trust, based on a verbal promise to repay the borrower's loan by a certain date. This type of loan is applicable only when the lender to the borrower is experiencing a special trust or has it powerful leverage. The purpose of credit control by the lender is to receive profits. Provision of credit – risky: there is always a danger of not getting the whole debt and interest thereon. Therefore, it is particularly important in the management of credit to identify the reliability of the borrowers. This is achieved is through bank credit and financial analysis activities particular borrowers on their creditworthiness.

Mortgage Loans

It is not clear why so many home buyers, even with good pay, receive waivers from banks and why, when calculating the individual terms of interest rates are sometimes a few points higher than in advertising. To find out the real picture of mortgage lending in Samara was monitored proposals of banks, lenders home purchase. In the area of mortgage lending in the autumn of 2009 there is a revival. For 3-ago quarter has shown that the market begins to recover. Confirms the dynamics of growth in mortgage lending and the statistics of the National Commercial Bank. Not surprisingly, bankers today are rather optimistic and almost certain that 2011 will be a year of revival mortgage.

And the great hopes for the mortgage confer not only the specialized mortgage banks or the market leaders, accounting for just and the bulk of issued mortgage loans, but commercial banks. Mortgage – low-cost destination for any bank, it's customer base for years and the high profitability of operations. In 2011, the expected revival of the mortgage on the old high level. Many lending institutions in 2008-2009 suspended the proper mortgage programs and loans are issued only on the program HMLA. Some lenders have left the mortgage sector to stay. Beginning with second half of last year, banks gradually began to return to the mortgage market.

Now a number of lenders have taken quite an active role in promoting the mortgage products. Sberbank, VTB-24, Delta credit, City Mortgage Bank, UniCredit Bank, AbsolyutBank, Bank of housing finance and others. To clearly understand the situation in the mortgage market in Samara, were monitored. As a result of monitoring revealed that at the present time in Samara, about 100 working banks offer mortgage products around 30. On the one hand, it can not but rejoice, but on the other – too optimistic a picture looks. And, sensations, there is some discrepancy between official and actual practice. Now there are many, even quite financially wealthy citizens, the banks refused to grant a mortgage loan. Today, choose Bank, which will give you the right loan, find the credit program, which is convenient for you, rather than just. This is a difficult job which occupies a lot of time. Proposals from the banks are now quite a lot. Size of loan rates seriously varies – from the really low interest in the banks, working on standards AHML to high rates of commercial banks. We must remember that the smaller the loan, the lower the interest rates. In addition, if the banks operating under government programs, only the official income on Form 2 Personal income tax, then the commercial banks may set off and "gray" income. For example, UniCredit Bank considers income coming Relatives and additional income of the borrower. Any income of the borrower is ready to consider and Rosbank. On the one hand, the borrower is a plus. On the other, negative: in informal income bank nakinet couple of percent, ie the rate on the loan will increase by no less than 1%. If you consider the availability of mortgage loans in terms of real estate, it is worth emphasizing that the vast majority of mortgage programs offered today by banks, designed to ready housing. Mortgage for housing under construction can be considered very accessible, simply because only a handful of banks willing to lend to buy dolevok, and even then – not all.