If only ten years ago, few could have imagined that the word "mortgage" is used so often referred to in everyday life, but now the value of mortgages everyone should know.But there will always be people who for various reasons are not just interested in the phenomenon of mortgages.
What is a mortgage?The term "mortgage" originates from ancient times and is a descendant of the Greek word Hypotheke.In the literal sense of the word means a pledge.Today, the mortgage means the process of real estate collateral for a loan.Only the fact is that real estate, which is pledged is that for which the lender will pay.But this apartment property rights issued on the happy owner of a mortgage.Deposit will operate until the creditor is not fully repay the loan and not get relevant papers that will confirm this.
These loans are given for a long period and often on bail of such properties as apartments, house with land, space for business or just land.Usually, the repayment terms of the mortgage are different and they are set by banks.Similarly, payments can be calculated using the mortgage calculator and understand how much you overpay in the uniform payments and for early repayment of the loan.
From you need to choose the period for which you will be able to pay the required amount.Televisions mainly short - three years, and long - up to thirty years.
These loans are offered by various financial institutions.Types of banks 1. Banks Commercial type
2. Banks mortgage lending
3. Institutions that have a credit license.
Any commercial type can offer today a few programs that are different terms and interest.At the same time, it is worth noting that you will immediately become the owner of the property and pay the loan in fact already for their own property.There is also the possibility of a mortgage on an apartment in the building, which will only be built.In this case, you get the title documents after the introduction of the house in operation.
In any self-respecting bank's website, you should easily find all the programs offered by the bank, as well as a special calculator, with which you can calculate the interest rate, repayment period of the loan and monthly payment.But do not be lazy to visit a few banks, because programs that are offered by banks to separate, and perhaps you will find the bank, the conditions that suit you most.