Great Options for the Right Mortgage Options

Many Muscovites, not to mention provincials, are afraid to apply for a mortgage. Most often, unfortunately, their fears are not unfounded. The bank can, for example, approve an amount two to three times less than the potential borrower asks. In fact – this is a refusal, because with a loan, say, 1 million rubles apartment for three “lemon” cannot buy. In order not to be at the broken trough, experts recommend carefully considering their actions before going to the bank.

Mortgage has long and firmly entered our life. It’s a pity that not every family that wants to improve their living conditions is in the life. All banks have a minimum list of requirements to the client; not corresponding to which to think about the credit is not worth it. Take the support of the mortgage broker GeelongĀ there.

Here are the most commonly used criteria.

Age of the borrower: from 21 to 75 years.

In fact, these are very fuzzy boundaries, – experts comment on “Metrium”. – The real bottom bar is at the level of 23 years. As a rule, by this age the client has already completed training, found a job and gained some experience, on the basis of which it is possible to predict his future prospects. Yes, in some cases, adult borrowers can be included in the number of borrowers from the age of 18 if they are, for example, recipients of a housing subsidy, but the main or even the only borrower at that age will not be able to become. The upper limit is at the level of the official retirement age in Russia, that is, women – up to 55 years, men – up to 60 years. Most banks issue loans for a period before the retirement age, some expect to pay up to 65 for working pensioners.

Citizenship of the Russian Federation and registration

In the vast majority of banks prefer not to contact non-residents of Russia. Units are ready to lend to foreigners provided all official documents are provided. Needless to say, the evaluation criteria will be as stringent as possible. It is desirable for Russian citizens to have a permanent or temporary registration in the territory of the Russian Federation. If at the time of purchase the borrower sold his former home and does not have a residence permit, it is enough to indicate the place of residence in the application form. However, for some banks it is important that the registration is in the region of the branch or branch of the bank.

Presence of a constant source of income

The sources of income accepted for consideration are:

  • Work for hire: the total length of service is from 1 year, in the last place – from 3 to 6 months minimum;
  • own business: the existence of a business for at least 1 year;
  • Pension;
  • officially received alimony, rental income and other documented regular sources of income.

It is important that the receipt of one-time material assistance, unofficial alimony, the delivery of an apartment without paying taxes by banks are not taken into account when considering an application.

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