If you do not have money for a down payment, then this is not such a problem. If there is income that allows you to repay a loan, then it is quite possible to apply for a mortgage without down payment.
Previously, the easiest way to get a loan was to apply for it according to a special program of the bank. But from the moment the crisis began, these programs were canceled. Therefore, you have to find another solution. To answer the question "how
to get a mortgage without down payment", first of all, it is worth asking another one to myself: "Will I be able to pay?" If the answer is yes, then you can already decide which mortgage program is right for you.
Loan without down payment with collateral
This method is suitable for those who already have an apartment, which can be given on bail to a bank. It is probably easier to take a car loan without a down payment than a mortgage. But still there is a chance. There are several banks that issue loans against collateral. In this case, it is worth considering a couple of points:
- Banks do not give the full value of the apartment, which is given on bail. Most banks give about 80%. That is, if your property is valued at three million rubles, then the loan will be approximately 2.4 million rubles. This amount may be less, as the borrower's income also affects the maximum loan amount.
- The apartment you plan to pledge must be located exactly where the bank issuing the loan is located.
How to get a mortgage without down payment by getting two mortgages at once?
If the first method is suitable for those who have more expensive real estate and acquire cheaper, then using this method you can buy an apartment more expensive or, conversely, cheaper.
In general, two mortgage loans are issued: the first is intended to make the first installment, on the security of existing housing, and the second - on the security of the apartment that you plan to buy.
How to get a mortgage without down payment, and which bank? So far, only one bank is known that practices such a method of lending, where
method loans without down payment are allocated as a separate program. But there are quite high interest rates. This method can only be implemented by combining loans obtained from several banks.
How to get a mortgage without down payment with consumer loans?
No deposit? Yes, very simple. To do this, you need to take several loans at different banks, for different amounts. But it is worth considering at the same time that you still have to repay debts, and this can turn out to be much more expensive than a regular mortgage. Also, such loans have a maximum term of half that of a mortgage.
As we have found out, you can still get a loan for an apartment without down payment. But before you take such a loan, you should very well evaluate your capabilities. Can you pay several loans at once?
Getting a mortgage is quite simple, but you still need to get it back!