Mortgage – one of the most perspective tools to solve housing problem. The rate of inflation not everything allows to save up for decent housing, and payment for the rental apartment often insignificantly differs with payment on the credit.
For most of people one of the main vital goals – to provide with housing of and family. Own apartment or the house – guarantee of confidence in tomorrow, stability basis. But one desire to obtain own housing, after all insufficiently – financial investments, and considerable will be required.
Why people decide to take mortgage
The problem with housing is not solved yet, it is difficult to person to concentrate attention on family happiness or career, it distracts also from achievement of achievements in other areas of life which are not less important for the person.
The prices, high in relation to income, make the housing market less and less available to bigger number of the population. Even activization of house construction has not made condition of acquisition softer. The high gain of the prices advances both increase in income, and even profitability of savings products of banks. For many family people who do not have solid savings, the mortgage remains almost only opportunity for housing improvement so far. In society, talk on huge overpayments, various strict requirements to borrowers is carried on that can beat off desire to contact mortgage loan. But banks constantly work on improvement of services in this area – number of the credits with feasible conditions for separate categories of citizens among which there are young families, single mothers and so on is developed.
Availability of mortgage loan
Despite high rates, requirements to pledge, on the fact that not each of potential borrowers is capable to provide the official documents confirming sufficient income the mortgage loan becomes more popular. With its help it is possible to replace the small-sized apartment with big on the area, to get housing for the grown-up children. For the young families which have decided to get the child it is opportunity to cease to huddle, at last, on rental apartments. As for big payments for the credit, many from decided on mortgage have made it because were tired to pay for rental housing. The difference in these sums is not especially big, but in case with mortgage the borrower pays own housing, but does not give money irrevocably for rent of the apartment. At stage of collecting documents for receiving mortgage loan it is desirable to consider the decision once again. Payments can quite be mastered if it is reasonable to treat the expenses and in advance to plan them. In case of force majeure when because of unforeseen circumstances you lose opportunity to fulfill credit obligations, do not disappear at all. Address to bank and explain situation – in most cases will offer you options which will allow not to spoil credit history. It can be so-called "credit vacation" or something another.