Disputes over whether to borrow from the bank to buy a house or apartment have been going on for a long time and are unlikely to end.
Opponents of the mortgage claim this type. Loans in Russia are essentially slavery that borrowers fall into. This is due to the excessively high interest rates and thus the amount of the monthly payment, which leads to the total income of the entire family of the payer. In Europe and the United States, they are many times lower.
Well, those who want to take out a home loan are aware of all the risks and difficulties they will face, but consider them the only way to solve the housing problem. In fact, only a few individuals can afford to buy real estate from their own resources, the question for the rest of the population is different: they have to make a living or pay an “uncle” for rented apartments, in the hope that they will Situation somehow solves or lends bank and live in your house. When we look at the situation from this point of view, the thought of getting a home loan doesn’t look that terrible anymore. Strange but true: everything is relative.
One of the first to start practicing loans was a Agree bank. Construction finance can be offered there at very good conditions. In addition to standard programs, there are, for example, special refinancing arrangements for loans previously taken out. The latter is in demand among those who received a mortgage loan of over 20% a year a few years ago. These numbers seem incredible today, but under the conditions at the time, no other options were offered.
What are the requirements for a home loan?
Agree bank, like other financial institutions, lends money as secured by existing real estate and what is acquired. It can also be assumed in the form of collateral that the borrower is other assets.
Minimum interest rates traditionally work in a foreign currency. Rubles are the most attractive conditions for young families who are planning a home loan. So in rubles you have to pay 10% per year, and the maximum term for which you can borrow money is 30 years. This offer is valid for families in which at least one of the spouses is not older than 35 years. The minimum size for the down payment is only 10% of the value of the property purchased.
When we talk about borrowers whose age has passed for thirty-five years, the interest rate in rubles starts from a mark of 12%, depending on the type of loan, ie, according to which property it is issued. The first rate is 10 to 15%. At the same time, it is usually smaller for apartments and more for private houses under construction.
Traditional loans for construction projects
Real estate borrowers cost more than finished apartments. At the moment, however, there are special conditions in Agree bank, according to which it is possible to obtain a loan for the purchase of a property that has not yet been handed over on approximately the same terms as for a property accepted by a state commission.
In order to get or not get a loan, the case is certainly individual. Due to the constant growth of property prices, you can save your whole life to buy a house or apartment and never reach your goal.