When this one was preparing, we did not know what exactly we would tell you about the mortgage. Therefore, this article will be devoted to a mortgage, in general, the risks associated with it, and the obligations for it. There will be no difficult definitions. We will try to tell you everything in a simple and understandable language.
What is a mortgage for the construction of a house in the concept of a layman? A mortgage is an opportunity to buy an apartment now, and in the near future to move there to live, away from parents, rooms in a hostel or a rented apartment. Taking a mortgage, you can already choose tiles in the bathroom and wallpaper in the bedroom, ask for a new sofa in the living room, and decide which curtains are suitable. It’s fine. However, everything has the opposite side. And the mortgage could not do without it. Mortgage imposes certain obligations on a person for many years. But who knows what will happen tomorrow?
The risk with a mortgage for many remains unclear. After all, if today you have a stable income and highly paid work, no one guarantees that tomorrow everything will not change.
Obtaining a mortgage loan is also associated with difficulties (execution of numerous documents, contracts with the bank, insurance company, etc.).
Note that no one should make a decision, take or not take a mortgage, for you. After all, a mortgage is a huge responsibility, very serious and for a long time.
Let us draw your attention to some points that banks do not mention when drawing up a mortgage loan.
The insurance that you draw up in the bank defends not your interests, but the interests of the bank. True, the costs of its design, all the same, fall on you.
Not all banks provide the possibility of early repayment of a mortgage loan. And, if this is possible, then you will have to pay penalties.
Before receiving a decision on issuing a loan, do not choose an apartment. You can get a bank refusal. It is also possible that you will be given an amount much less than the one you counted on. Another important point: mortgage calculators show only the approximate amount that the bank can provide, but this amount is not an obligation of the bank.
Do not try to figure out all the difficulties and “underwater stones” of the mortgage loan yourself. Better seek help from a mortgage broker. A good broker will help you significantly reduce your expenses by picking up the bank and mortgage.
We hope that this article was useful for you.