To arrange a mortgage the house or apartment must be submitted to the chosen bank applied for a mortgage loan and all necessary documents for a mortgage, most of which have a standard form. Adoption of decision by the bank for a loan can take from several days to several weeks. Some mortgage banks offer the service “Express – mortgage” when the decision to grant a loan is taken for a few hours. If approved, the bank credit committee can proceed to the choice of housing.
For a certain time, the bank several months, the borrower needs to find a suitable apartment (or house) that would meet the requirements for mortgage housing, extended the creditor bank. According to the selected apartment (house) should collect the documents, which are required for the transaction of purchase and sale as well as the evaluation of property. Approximate list of these documents is as follows:
documents of title to the selected housing;
Passport house with his plan;
a certificate of registration (Form 9) and dwelling characteristics (Form 7);
Help the absence of debt for housing and utility payments;
extract from the Unified State Register of rights (subject to the right to housing, title documents, the absence of encumbrances on the flat);
resolution of the guardianship authorities for alienation of the apartment (in the presence of minors owners of apartments or flats encumbrances rights of minors).
Assessment of housing – a mandatory step registration of the mortgage the house or apartment. It is connected with the restriction of the loan amount, which can provide the bank – it is no more than 80-100% of the appraised value of property. It assessed value rather than the market (that which can request the seller).
Home insurance – as a necessary stage of registration of the mortgage. The loan terms are usually quite long, so the bank requires guarantees in the form of compulsory insurance and disability borrower risks, loss of property rights to housing or damage.
After checking the bank selected by the borrower apartment or house, as well as their assessment and insurance, comes the stage of conclusion of the contract of mortgage lending. Most mortgage banks form the mortgage contract can not be changed, and the borrower should be familiar with it in advance, so that later it was not necessary to abandon the credit if some terms are unacceptable. Possible as an option when the mortgage instead of a separate agreement between the seller and the buyer of the apartment (borrower loan) is the sales contract drawn up in such a way that the mortgage from it arises by operation of law. Along with the mortgage agreement you may need a mortgage. It is a registered security, indicating the creditor’s right to obtain the execution of a monetary obligation secured by a mortgage, without submission of other evidence of the existence of this obligation. As a rule, to arrange a mortgage a house or apartment, you must attend a notary.
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