Housing loan in Kiev
The most desirable purchase of citizens of our country is the purchase of an apartment. The cost of real estate is very high compared with the income of citizens, and such a purchase is not complete without a loan. Let’s figure out what is needed to buy an apartment. Prerequisites for obtaining a loan for an apartment – the borrower must be a resident of Ukraine with an age of 21 to 60 years, have a permanent job and a constant income.
Next, you need to determine the object of lending. Acquired housing may be new or from the secondary market. If in the first case you can get a loan in almost any bank, then with an apartment in the secondary market you will need to find a bank that will be ready to get a loan for housing that suits you. It is also worth noting that not all banks will give loans for housing in unfinished new buildings and, especially, in still under construction houses.
If you have the opportunity to pledge real estate for a loan, then obtaining it will be much easier, in some cases even on more favorable terms. Also an important factor will be a large down payment.
The list of required documents is the same for all banks, it is easy to find out by visiting branches of any bank, but in specific cases, it may require additional information and other information of interest to the bank. Recently, it has become more difficult to obtain a loan for housing, requirements for the borrower have increased, banks are more scrupulous in checking the documents of the borrower, and I demand a guarantor who is responsible to the bank with his property.
Nevertheless, if the bank gave you the go-ahead to receive a loan, here are a few tips that you must follow when completing the contract:
– It is better to take a loan with a classical payment calculation scheme, it is more suitable for you in this case than an annuity. Buying a property on credit is usually done for a long time, and with the classical scheme, you reduce the loan body from the first payment.
– carefully study the conditions for partially early repayment of the loan. In loans with a long repayment term, banks prescribe the conditions under which they can apply penalties to the borrower, as well as complicate this procedure with all sorts of bureaucratic methods. The reason is simple – banks do not benefit from a quick refund.
– try at the initial stage of loan repayment to make the maximum overpayment. This will actually reduce the overpayment rate, which in the long run will save a significant amount of money.