How to get a loan for real estate
Fill out a loan application form. In it, you will need to provide information about yourself, about your work, as well as about the property that you own. Do not forget to take a passport. In addition to these documents, banks usually require an income statement for the last six or twelve months. After a designated time, the bank will notify you of its verdict. If the issue of granting you a loan is decided positively, you can take a mortgage on the security of the acquired property or your own. But sell pledgedthe property, until you repay the loan, you will not be able to. A mortgage is given for up to 30 years. But, if you reach the retirement age earlier, you will be given a loan for the time remaining until retirement. The loan is paid in equal monthly installments and can be repaid ahead of schedule, but not earlier than three months from the date it was received. Some banks charge extra fees or penalties for this.
If you take a loan secured by the acquired object, start a real estate search. In search of banks usually give two to three months.
If you already have an option, prepare the necessary documents for real estate to give you a loan against her security. Typically, banks require documents: an act of assessing the value of the acquired property and the contract of sale (often in its form). For the purchase of real estate you will be given the maximum amount that is specified in the act of real estate valuation. You will need to pay the buyer a down payment of your personal money. The bank will give you the loan amount minus the money. The size of the down payment may affect the interest rate on the mortgage.
Sign a loan agreement and get paid. But personally in your hands you can not take them. The bank will transfer the loan amount to the seller of real estate, or offer you to use a bank cell to transfer money.
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