The dream of your own country house can come true even if there is not enough money for the construction. To do this, it is enough to contact one of the banks and a type of loan such as a mortgage for building a house will be guaranteed to be issued to you. Also, this type of lending can be obtained through a broker. It all depends on what your credit history is and how much time you are willing to spend on obtaining it.
Pros and cons of these offers
We arrange a loan at the bank.
Turning to the bank and applying for a loan, as well as filling out all the necessary documents, you have to wait a long time.
Moreover, to obtain a loan such as a mortgage for construction, you will need to provide a large number of documents, and accordingly spend a lot of time. But there is one plus. It consists in the fact that the bank has an interest rate on mortgages for building a house slightly lower than that of a broker, and only because the broker, if you contact him, does all the work of obtaining a profitable loan for you. Therefore, many today prefer to draw up and receive a loan through a broker. There are a lot of reasons that we will try to voice below.
2. We arrange a loan through a broker.
To begin with, the word "broker" refers to a specialized company whose main purpose is to help the client in obtaining a bank loan. It makes life easier not only for those who, for some reason, cannot get a document directly from the bank such as a mortgage for building a house, but also for those who do not want to spend a lot of time on all this paperwork. Therefore, getting a loan through a broker, you can count on the following services:
a) A reliable mortgage broker will select the most suitable mortgage loan for you . For the bulk of borrowers, the most fundamental question is always in choosing the most profitable lending. That is, the broker focuses on your abilities in the monthly repayment of the loan and the rights in relation to the purchased house.
b) Correctly and quickly fill out an application. Understanding all the subtleties of the requirements for borrowers in a particular bank, a mortgage broker will be able to show your candidacy from the best side and draw up the entire package of necessary documents. The difference between how an amateur draws it up and how a specialist conducts business is very huge and can be very significant.
c) Prepare a loan agreement after calculating and coordinating the loan amount with the client. According to statistics, the number of positive decisions on loan applications filed through prof. 30–40% more brokers than those requested by individual borrowers.
d) Significantly save money on a credit transaction.
Mortgage lending, in which a mortgage is issued for the construction of a country house, is a rather complicated process, and the cost of a mortgage is not limited to monthly payments. Therefore, in any particular case, they will be individual. The broker will help you make the necessary calculations and discover the likely "pitfalls" in the proposed contract. After checking this data, a mortgage agreement is concluded with the maximum benefit for the client.
e) Refinance the transaction (if loan rates fall). Now Russia has a system of refinancing loans, and this service is actively used and mastered by all mortgage brokers. It is they who undertake the full conduct of transactions related to refinancing. That is, if the loan rate falls, the company will recalculate the mortgage agreement.
f) Find the most loyal lender. One who does not refuse to issue a loan. Refusal to issue a loan to an individual or legal entity is a quite common situation in a bank. And there are many reasons for this. This is what a mortgage broker can take quickly and easily to take over.
All the advantages of contacting a mortgage broker to get a "mortgage for building a house" is evident. Therefore. if the offer interests you, we will be happy to help in this matter, please contact!