Archive for July 2018

The Best News for the Proper Mortgage Process

How it is more profitable to take and pay a mortgage loan – the advice is based on the experience of real people.Be puzzled by the search for a down payment. The standard minimum is 15% of the cost of purchased housing. You can accumulate, which takes 2-4 years, use the parent capital or take a loan against the security of the existing housing. They do it in the same bank, where they make out a mortgage, since one loan is impossible without the other.

When choosing a new building, pay attention to the connection between the bank and the builder. Usually the bank on its website opens a list of houses that are erected at the expense of its loan funds, and it is these facilities that give preferential terms for a mortgage. The mortgage broker GeelongĀ  is important here.

Look for the lowest rate

Check a few banks: it can happen that where you receive a salary, the rates are higher than in any other. The difference, for example, in 0.3-0.4% may seem insignificant, but if you convert these percentages into money, you will see how impressive the amount is.

Study the state support programs for “mortgage”. Among them there are federal programs (programma-molodaja-semja.ru ) and regional ones – from the city or regional administration. The conditions are everywhere: sometimes the government pays part of the interest on the loan, sometimes gives a lump sum, and does not control what you will spend it on. Serve all the papers conveniently through multifunctional centers like My Document.

Pay attention to the size of the insurance and the conditions for its registration. If the borrower does not insure his life and health, then a one percentage point surcharge applies to the mortgage.

Find an acceptable maturity of the mortgage

The shorter the term, the less the overpayment due to accrued interest. If you take a mortgage for 15 years, then you will pay less than if you had it for 20 years.

Correct the amount of the monthly payment. It should not be too large. At the same time, always pay a little more than you need. Even if you voluntarily add 500 rubles to a monthly payment, this will create a good “safety cushion” in case of any force majeure.

Count only on the income in which you are sure. Cover part of the monthly payment at the expense of renting a house is a bad option. Find tenants are not as easy as it seems. In addition, your rental income is taxed at 13%.

Drawing up a tax deduction

It consists of three parts: a deduction for the purchase of housing, the repayment of interest on loans from organizations or individual entrepreneurs and to repay interest on bank loans. Conditions, restrictions, a package of documents you will find on a site of Federal tax service.

Use refinancing. After some time after you have issued a mortgage, you may be able to take a consumer loan at a lower interest to pay off the mortgage.

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