Each borrower dreams to reduce the interest rate on the mortgage, because it will significantly reduce the financial burden. You can do this already when you have a mortgage, or initially try to take a mortgage at a reduced rate.
A truly beneficial transaction for you in the case of the previously decorated mortgage can be a loan restructuring. For example, if you have issued a mortgage earlier under 13.5%, and after some time the same bank offers new customers a mortgage under 9.5%, you have the right to demand a decline in interest rates.
To ensure that your bank will go to such a deal, no one can, but it’s worth trying.
The main thing about what, you need to remember is that, during restructuring, it is impossible to make a delay in payments, otherwise the refusal is provided to you. Then in this case you may be offered a mortgage refinancing.
Refinancing differs from restructuring in that in this case you take a new loan on more favorable terms, for example with a reduced interest rate for repayment of the mortgage.
Unfortunately, it is not suitable for all categories of citizens. What are we talking about, let’s tell further.
This preferential mortgage program can take advantage of families in which the second child was born after December 31, 2017. The percentage rate on the mortgage will be 6%.
Also this state support can use families with children with disabilities, and the number of children is not taken into account. A disabled child may be the only one in the family.
If you are going to buy housing in rural areas, be it a house or apartment, but not within the Moscow region and Moscow, as well as St. Petersburg, then you can use the program «Rural Mortgage».
The initial contribution of the mortgage should be at least 10%, and the maximum validity of the mortgage agreement is not more than 25 years. At the same time, the interest rate will be only 3%.
Here the state offers a mortgage to buy new housing, as well as secondary or building at home under 2%. And with the participation in the Far Eastern hectare program, you can get a land plot for free. The age of spouses should not exceed 35 years, and the maximum loan amount should not exceed 6 million rubles.
What there are different ways to reduce interest rates on a mortgage loan.
We advise you to place information at current interest rates in order to submit an application for refinancing or restructuring your mortgage, as well as interested in existing preferential programs in which you can take part.