Much know what is a mortgage loan. With its help it is possible to make favorable acquisition and at the same time to overpay the minimum sum of money. The mortgage loan is represented a bank loan which comes for acquisition of the real estate or any other large purchase. Today the mortgage is the only opportunity at people for acquisition of own housing. It would seem that at registration of such credit there are no problems, but many face a serious problem how to receive a mortgage with small official salary.
To take a mortgage, perhaps, to everyone, but here it is worth deciding on what is necessary the sum. If the person at the salary of 500 c.u. needs to take 2,000 c.u. for 5 years, then the bank without problems will give money. With purchase of the apartment or house the situation is much more difficult. Whether will give a mortgage if official salary small on the real estate a difficult question. If the borrower has any real estate, then he can use it as initial contribution. Also it has to have a bank account that at issuance of credit the employees could see income and solvency. In that case the bank can make concessions.
Conditions for delivery of a mortgage with small salary
If you decided to issue a mortgage loan, then the bank has to make sure that you will be able to pay the credit. For this purpose it is required to provide the necessary package of documents in which there will also be a reference in which the salary of the borrower will be written. In addition the borrower will have to provide:
- The spouse who has higher earnings can act as him. In that case the bank considers not the income of the particular person, but the total family income that will help with delivery of a mortgage.
- The mortgage with small official salary can also be taken if the wealthy person is a guarantor. In case the borrower is not able to pay the credit, then the guarantor will take full responsibility for it.
- Pledge which can be valuable property, the car or the real estate. In that case the pawned item or an object will act as the first contribution.
- If for the first contribution the borrower has no means, then it is possible to use a consumer loan.
Two guarantors are provided for registration of a big mortgage loan. Their income also has to be top-level. Guarantors will also have to provide documentary confirmation of the salary.
How to sweetheart bank?
If you did not decide on how to take a mortgage with small salary, then it is necessary to find any way for its receiving. Very often borrowers can use the state preferential program. Participants of a social mortgage will have to get in line to issue the credit which will have a rate twice less, than market. As a result the borrower receives money in the form of a subsidy which can be returned throughout a long time. It is so much easier and simpler to make payment of the credit. Even the family with small income will be able to obtain such credit. Only here strict rules which are required to be carried out work and also receiving money it is necessary to wait not for one year.
One more option is distribution of payment of the credit for several persons. In that case it is necessary to submit the application where attraction for payment of several borrowers will be provided to bank. The creditor will be able to put the income of all these persons. The number of persons should not be more than three, and they can be all members of one family.