Customers should indicate
Many banks suggest that potential customers should evaluate their opportunities with the help of the so called mortgage calculator on the web page of the bank. Customers should indicate the flat cost, monthly income rate, family members, etc. Based on these data calculator provides you with the possible credit amount, monthly installment rates and chances to obtain a credit from this particular bank. Remember that such a calculation is always rough. In reality there are other conditions which influence credit-giving as well as other costs not included in the calculation.
To apply for a credit you need a certain set of documents. Each bank has its own list of the necessary documents; still you won’t do without a copy of your passport (ID), driving license or marriage certificate. The possibility to get a loan without confirming one’s earnings seems to be a myth. For one thing, the unemployed can’t count on getting a credit. This means, you need to prove the fact that you have a permanent job. By announcing the possibility to get a loan without providing an income reference, most banks mean that they don’t care whether your earnings are official or not. Anyway, the income reference should be signed by the chief accountant and director general of the company you work for.
Once you’ve borrowed a credit and bought a flat, you should remember that mortgage interest rates in Russia change quite dynamically. As credit periods range from 15 to 20 years, your loan can easily switch from a very favorable to a very expensive one.