Mortgage lending implies the issuance of a large amount of large sum in the debate for a long time in order to acquire real estate.
Since the purchase of an apartment is expensive pleasure, the lender must be sure that you have the opportunity to carry out monthly payments in full. Unified wages — no. However, not every potential borrower will be able to qualify for approval of a loan.
Certain payment of monthly payments will be able to a citizen who receives salary significantly exceeding the minimum level of wages. Since we already know that the acquisition of real estate carries high costs.
The higher the income of the borrower, the greater the chance to get approval in the loan. Low salary levels will most likely lead to a bank failure.
Despite the fact that the specific amount to obtain a mortgage loan is quite difficult to calculate, the majority of borrowers emanate their ratios-consumption ratios. Specialists of the banking system have long been determined that the borrower should be returned to pay off monthly payments on the borrower, no more than 40% of wages.
Take, for example, the most popular method of calculating among financial institutions — 50/50. That is, to understand the approximate maximum you can count on, you need to share your wages by 2.
In order to calculate a monthly payment, depending on the interest rate and the term of the loan, you can use the credit calculator, which is freely accessing almost every website of the financial institution. There you can calculate not only a monthly payment, but also the possible amount of loan and approximate final overpayment.
Explaining a mortgage application, the lender relies on three main solvency factors: fragility, employment and income level.
Of course, the first thing that the bank takes into account is the presence of an official employment, which is supported by the relevant record in the employment record or employment contract.
Also as the main income of the borrower, the lender takes profit from the introduction of its own business and pension accruals.
Financial institutions also take into account the additional income in the form:
Informal income are a serious risk for a financial organization. However, given the fact that every day the number of citizens with «gray income» is only increasing, lenders have become more loyal to such customers.
For this, banks have developed a certificate in the form of a bank, which replaces the certificate of income of the 2ndfl.
Citizens who are engaged in self-employment or freelance, are also not able to confirm income — can contact credit institutions that do not provide evidence for solvency.
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