Maximum credit amount by declaring a minimum first installment rate
For security purposes it would be reasonable to ask for a maximum credit amount by declaring a minimum first installment rate. Even if you have 30% of the flat cost, do not be in a hurry so as to say this to your creditor. Try to get 90% of the initial flat cost by depositing 10%. You’ll need the rest to pay the seller the difference in prices which will occur in 1-3 weeks while your deal is being accomplished at the bank level. A flat which costs 180 000 USD will cost 190 000 USD in just 3 weeks. And sellers usually wish to get the current price, not the previously established one.
That’s why ideally you first deposit 18 000USD and 10 000 – 15 000 USD will make up the seller’s undeclared profit. Realtor’s fee will cost 3 000 – 5000 USD, complex insurance, credit commission, loan account maintenance – 4 000 – 5000 USD more. Thus, while buying a flat for 180 000 USD with 10% initial installment rate, one will probably need not 18 000 USD, but 45 000-55 000 USD or 25-30% altogether. However, there are few banks which can give you 90% on credit. You should also be aware that even if the flat cost does not increase with time, you will need approximately 15 000 USD extra for additional services.