Pitfalls of the mortgage: how not to make mistakes when you take a loan
Get Rich / / December 20, 2019
Error 1. Take out a mortgage with a maximum mandatory payment
The logic of iron: the higher the monthly payment, the sooner pay the mortgage, the less they receive overpayment. This is a direct savings.
In practice goes a little bit wrong. Suppose income - 30 000 rubles, the payment on your mortgage - 17,000. It's even more than half, but the borrower has read a hundred articles on how to live on 5000 rubles a month, so that he is also able to save.
Let's not talk about that constantly live in the mode of a catastrophic economy is bad and can be broken - it depends on the strength of will. But in such cases, even small force majeure brought to delinquency.
How to make
Take the credit at least for 30 years, but with the conditions that you will be able to perform without straining.
Even if you expect that the income will grow, take a mortgage, which will draw today. There will be money - close your mortgage early or find another use for them.
To do this, you need to review all the options and offers of banks: someone offers profitable programs for young borrowers, families, Bank customers, someone reduced rate when additional insurance or, provided that you collect a lot of documents to confirm the reliability.
Error 2. remove housing for too long and did not take out a mortgage
Afraid to take a mortgage, especially when the housing is removed. When renting a headache because of taxes, repairs and communal, you can throw everything and go to the Himalayas, without fear that followed the bank's employees arrive. A loan money is going, and it seems like it will never end. But to make sure that it is time to get involved in a mortgage, it is sufficient to take the calculator and calculate.
I took out a bank loan 1 550 000 rubles for 10 years. Monthly payment - 21 700 rubles. If you pay on schedule, the overpayment amount to 1.054 million rubles. But I try to repay ahead, and if you keep the tempo, then no more overpaid 600,000.
If all the time to shoot the same apartment, I will give a minimum of 1.8 million rubles, and if it does not increase the price of rent.
How to make
Find the bank, sit down and calculate what apartment you can buy right now. If you do not have enough for housing, in which you can immediately move to take a mortgage in a newly built house. So too it is possible, if you search and analyze the proposals of banks.
The bank "Delta Credit" is "mortgage holidays"- a program that first year or two monthly payments cut by half, just to have enough and will eat, and the mortgage until the house is built.
And when the house is put and nothing is no longer necessary to rent, this part of the budget will start to go to repay the loan. But we must remember that no bank will be giving away buns for beautiful eyes. Typically, the rate at loan with indulgences higher than usual.
Error 3. Forget about moving
This item is generally thrown away many of your head. But imagine that you are young, you have an interesting profession. You are offered a transfer, but there is one thing: a mortgage for 30 years. Or your family increases, need an apartment more, but you already have a valid mortgage on kopeck piece.
How to make
Why not skip to another city or to the north of the high salaries, there to shoot and housing to give an increase in the mortgage payment? Why not try to sell the apartment from the pledge?
Mortgage does not connect to the site. Mortgage apartment, and if you wish you can rent, and sell if an agreement on this with the bank. Yes, it's always more complexity, but, if plans have changed, all difficulties can be overcome.
And do not be afraid to take credit for the property, where you will live, choose an apartment with a stock of meters. By the way, very few people think about it, but to take the mortgage can be not only flat, but also at home.
Error 4. Forget about repairs
Buy an apartment, when the developer barely had time to get a building permit, it is advantageous. Price per square meter on the stage of excavation is much lower than in the finished housing. Especially if the apartment will pass in the construction variant - is when in front of you an empty box and space for creativity. Only here in this work you need to invest a large sum.
Even if you buy housing on the secondary market, after the move is complete without repair: where it is necessary to move the socket where something hideous wallpaper. If you forget it, the housewarming could drag (or will have to take on more repair and credit).
How to make
Three options:
- When you ASSUME mortgage, paying lower initial payment, but just delay "reconstruction" money. It is better to put them at interest.
- Delay for repairs when to pay the mortgage. The same mortgage holidays, about which we have spoken, can help.
- Look for the developer, who immediately rents an apartment with repairs. At least it is possible to live, that is to end up with a mortgage, and only then something repaired.
Error 5. Do not create a reserve fund
Usually, if you make an initial payment a little more, then the mortgage terms will be softer. It is logical that I want to give all that is acquired back-breaking labor, but in the end have to live from paycheck to paycheck.
How to make
Defer a small amount which will cover the required payments for at least two months and better - for six months. This insurance, in case you suddenly lose your job or happens something else.
Error 6. Do not read the contract
Even if you have all discussed with the manager, even if the consultant replied to a hundred of your questions, read and ask about anything that you do not understand. Suppose you ask the obvious stupidity, just do it.
How to make
Read the contract and all the documents to which it refers (eg the overall credit conditions in the bank). Make a summary of the main provisions of that when you have to pay, what documents to update, in which companies insure, where to call if there are problems.
Error 7. Forget about the tax deduction
Did you know that a tax deduction is assumed for the mortgage? And for the purchase of apartments, and the interest on the mortgage. This deduction can be a round sum - up to 650 000 rubles.
How to make
Gather information on income and payments, to apply the tax (if you do not know how, it offers a lot of companies that will draw everything for you for 20 minutes), get money. By the way, if you are married, the deduction can receive and mate. Spouse entitled to compensation even if he is not the owner of housing, and many people forget about it.
Error 8. I think that it is somehow itself will take place
Suppose there was a nuisance: you have overdue payment. No matter for what reason: did not work a reminder, the mood was not, the money ran out. It makes no sense to hide our heads in the sand and continue to pay the mortgage, as if nothing had happened. Even one day of delay Bank may prescribe a penalty or impose a fine, and then it will result in a round amount.
How to make
Ideal - to insure, but it is expensive (and if insurance is good, very expensive). Regardless of whether you have insurance or not, in any strange situation, call the bank. Minor difficulties can be resolved immediately, in the event of major problems - and even agree to review the terms of the mortgage. The main thing - not to disappear and take responsibility for liabilities.
If you realize that you are mentally prepared for a mortgage, find out, you can count on what conditions. Use the online service for the approval of "Delta Credit": he will obtain the prior approval of the loan without visiting the bank. Sign up, apply, get approved, and download the necessary documents - all quickly and without complications.
Learn all about your mortgage