Best Mortgage

Credit maintenance and repayment expenses are substantial enough, and it’s not that easy to evaluate one’s financial standing many years ahead.

Some banks charge their interest on the remaining debt, the others – on the whole credit sum, regardless of the amount you’ve already returned. (For instance, you finally have 1000 USD to pay back, but the interest rate will remain exactly the same as if you still have 80 000 USD in debt).

You will be obliged to insure your life, health, flat. If one is feeble, such insurance will surely protect one from loosing one’s mortgaged housing. In case of a serious disease etc. the insurance company will be held responsible for the credit repayment. Anyway, insurance charges are an additional financial burden: health insurance will cost you approximately 1000 USD per year.

Some banks don’t practice advanced credit repayment and fine those who wish. Sometimes it’s allowed to pay off in advance but not less than 1000 USD per month, for example.

The owners of 2-5 flats only out of a hundred on sale agree to sell by mortgage. Under housing deficit conditions owners don’t usually want to wait till you collect all the necessary papers so that the bank could give you the credit.

If you seek a flat yourself, you’ll have to pay the flat’s estimator recommended to you by your bank or broker. It can turn out that the banker doesn’t like the chosen flat (it has wooden floor, wear) and you won’t get the credit. However, the estimator’s work should be rewarded anyway.

This entry was posted on Wednesday, May 31st, 2006 at 1:33 pm and is filed under Main. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.