Mortgage without down payment: how to get?

Recently, a special popularity has acquiredsuch a banking service as a mortgage without an initial installment. Unfortunately, in our country there is still a high degree of distrust of the population to various types of credit institutions, so long-term loans are not very popular. However, real estate prices in large cities are so high that mortgage loans without an initial installment are sometimes the only way to acquire their own housing. The most relevant proposal is for young families who do not have a large starting capital.

Any loan is secured

Of course, do not expect that the bankwill provide a large amount of cash, without requiring you to provide any guarantees for its return. However, the development of the mortgage program is evident. If after the crisis, the minimum contribution was at least 30%, but now this figure has dropped to 10%. In order to receive such a loan, you will have to provide the credit institution with a whole list of documents. One of the determining factors in considering a potential borrower is its solvency, that is, the level of wages and financial stability of the enterprise, where the client is employed.

Mortgage without a down payment of housing

This option is suitable for those inwhose property is located flat, room, house and even a piece of land. The maximum loan amount is calculated based on 80% of the appraised value of the collateral object. Such programs are very acceptable for families who want to buy new, more spacious housing. Currently, many commercial banks offer this kind of long-term lending, so it will not be difficult to choose a favorable offer.

Mortgage without down payment through double lending

This method is based on the previous version. You first get a loan secured by existing property or property rights, and then apply for a second loan for the missing purchase amount. This method is especially relevant when the estimated value of collateral does not meet your expectations, and the proposed loan amount is not enough to purchase the chosen housing. Of course, it is worth considering that you will have to pay off immediately on two loans, so you should estimate your own strengths in advance.

Mortgage without down payment through consumer lending

This method is used by persons who do not haveno property rights. In this case, as an initial contribution or collateral is the amount of money taken in another bank under the consumer lending program. On the one hand, the borrower gets the opportunity to quickly issue a loan on the basis of a minimum package of documents, which means to speed up the process of mortgage registration. On the other hand, consumer borrowing is considered costly, so you will have to repay the debt at a high rate of interest. Thus, to get a loan for a property without a down payment is quite feasible, and which way to use, choose you.

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