Let's immediately separate the grain from the chaff. If you choose in which bank it is more profitable to take a mortgage, then it should be borne in mind that the usual criteria that we use when opening a deposit, card or current account are not applicable. In particular, sympathy for the brand and other factors of the emotional plan should be immediately cast aside.
Today, mortgage apartments are offered by more than six hundred (!) Banking institutions throughout Russia. And the task of every citizen who has decided to acquire housing is to make a competent choice. As you know, the loan term in this case is from 10 to 30 years. That is, a mistake made at the stage of choosing acceptable conditions can be too expensive.
Determining which bank is more profitable to take a mortgage, some borrowers focus solely on the amount of credit interest. Like, the lower it is, the better. It's right. But only partly. It would be much more correct to pay attention to the basic conditions of such programs. This, for example, the currency of the loan, the maximum term for the provision of funds, type of collateral. Here, the
interest rate, the size of the amount of issued funds and much more will already depend on them.
What should a borrower be like?A person who is considering how to get a mortgage should understand that one desire and high income are not enough. Credit and financial institutions present a number of requirements to their potential borrowers. Among them:
• age;
• availability of liquid ownership;
• the possibility of attracting a co-borrower to the transaction, or even several.
In addition, the income already mentioned must be not only high, but also official. And here, too, has its own subtlety. Its size should allow servicing a loan without any difficulties. And this is not only about making monthly payments. In addition to them, you will need to pay a fee for considering the application (if any), notary and appraiser services, insurance. In this regard, wondering in which bank it is more profitable to take a mortgage, it is necessary to clarify such a point as the
effective interest rate. Simply put, this is the aggregate of all costs a borrower incurs during the entire loan term.
What should a lender be?And now, in fact, in more detail about the bank. Rather, about how it should be.
What questions arise first when we reflect on which bank is more profitable to take a mortgage? First of all, we are interested in its size, fame, territorial affiliation (Russian or is it a "daughter" of a foreign financial organization). And there is no single answer to the questions posed.
But, as analysis of current market offers shows, a larger institution is rarely characterized by excessively lenient requirements for borrowers and a low interest rate. In this regard, newcomers to housing lending are more interesting.
One of the most important points is the clarity of the information provided. About the conditions and everything else. The slurred tale of the loan, which is planned to repay a couple of decades, should alert. After all, we are talking about serious money and deadlines. Therefore, in all must be present unambiguity of judgments.
Finally, during the consultation you should be treated with respect. Not as a petitioner, but as an equal partner. If you don’t really reckon with the client already at this stage, then you should think hard, but are the other advantages of such cooperation really great?