Buying an apartment in a mortgage: where to start
Having decided to buy an apartment, experts
At first glance, everything is logical, but experts recommend doing otherwise: apply for a mortgage and then, if the bank decides positively, choose an apartment.
Why is it important to apply for a mortgage before looking for an apartment
This way you will be able to determine your budget for the purchase of an apartment, based on your own savings and the loan amount approved by the bank.
Let’s say you first chose an apartment, made a small advance payment, and the bank approved you for an amount less than what you requested. Or, on the contrary, he approved a large amount for you, and you, not counting on this, have already chosen a small one-room apartment, although you have always dreamed of a spacious three-ruble note. A third option is possible: the application was not approved at all.
In any case, there is a risk of losing money, wasting your nerves and time.
After the approval of the application, you will have whole days to search for suitable real estate, agree with the bank and prepare for the transaction — you will surely you will have time to do everything.
How much loan can you get
You can find out the exact amount of the loan only by submitting an application.
When considering your mortgage application and if approved, the bank will approve the maximum possible amount based on your income.
What to do if the bank approved the amount less than requested
Don’t get upset. After approval of the application for a mortgage, you can change the terms of the loan, including the amount. To do this, you need to contact the mortgage manager.
He will tell you the appropriate option to consider a larger amount: change the loan term, indicate additional income, close existing loans or attract co-borrowers. After that, the manager will make changes to the application and send it for reconsideration.
For example, Kirill was approved for an amount of 3 million rubles, but he wanted to take a bigger apartment, for which 3 million would not be enough, and 4 million would be just enough. Kirill called the manager and, after consulting with him, found the best option — to involve his brother as a co-borrower, whose income will also be taken into account when considering a second application.
Important! Depending on the new loan amount, the approved mortgage rate may also change.
What to do if the bank approved the amount more than requested
If the bank approved you an amount more than necessary, it is not necessary to take everything. Within the approved limit, you can take only the necessary part. The bank approves the maximum amount you can, but are not required to, use in full.
For example, Kirill was approved for 3 million rubles, but at the same time he has his own savings, which he is ready to spend on a down payment. He needs only 1 million rubles from the bank. Kirill finds a suitable apartment, tells the manager the amount of the down payment, information on the property, including its value. After the manager prepares a loan agreement with all the data provided by Kirill.
Mortgage approved, amount satisfied with the loan. Can I look for an apartment?
Yes! You can now start your search for a suitable home with peace of mind.
About real estate and mortgage programs in Crimea and Sevastopol, current offers for the sale of apartments, houses, land plots, commercial premises:
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