Dream Making with the Right Mortgage

Mortgage without a down payment for the purchase of new buildings banks began to offer more recently – in 2018.

Which banks give a mortgage without down payment?

One of the first mortgages without basic initial investments was offered by Bank, but within the framework of this program it was possible to purchase apartments and apartments. Now these conditions extend to a number of facilities and from other. Perfect supports are there for the same from mortgage broker Geelong .

Gradually, similar lending programs were launched by other banks. The bank also has such a service, but with additional conditions: offers within the framework of the program “Mortgage with parent capital” are available only for young families (11% per annum, loan up to 25 years). In addition to them, a mortgage without an initial contribution is offered today by SMP Bank (rate from 12.5% ​​per annum, loan term up to 10 years).

How to take a mortgage: instructions for beginners

There are special programs that operate only when buying an apartment in a certain residential complex.The requirements for new buildings are generally the same: it is a project accredited by the bank, implemented only within the framework of 214-FZ (in the DDU), and sometimes at a certain stage of construction readiness (that is, not a pit).

There are more criteria on the secondary market: the bank can limit the list of settlements in which the subject of the pledge should be, describe the specific requirements for this housing – the year of construction, number of floors and so on.

Is it possible to take a mortgage without a down payment?

As for borrowers, loans without down payment are not available to all comers. In favor of this, the statistics of the issuance testifies: in the total volume of all mortgage deals only 2% of the borrowers have issued a mortgage without an initial installment. Of these, most purchases were in new business-class buildings – that is, a mortgage without a contribution was used by buyers with a good and stable level of income.

For a bank offering such a mortgage product, this criterion is extremely important, however, as well as having a positive credit history. In most programs, a mortgage without a contribution is offered with a higher interest rate than for classical mortgage products, sometimes for a shorter period, which usually means that the monthly payment will be more than the standard program.


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