If you do not have enough money for the purchase of housing, they can be borrowed by the bank. But then the question arises «How to get a loan for a long time and at a low interest rate?» In this article we will analyze what is more profitable in various situations.
A significant minus of finding your property in a pledge of the bank is that all the actions of the collateral of the owner will not be able to commit without the consent of the bank. For example, sell or make redevelopment.
To obtain a mortgage loan, in most cases the client must make an initial contribution — from 10% of the cost. Consumer credit — issued without the initial contribution. Since at the conclusion of a mortgage a lot of time goes for real estate registration, on average for about a month. And consumer credit can be issued in 1-2 days. Mortgage loan is more adapted to purchase real estate than consumer.
In order to determine what is better, it is necessary to compare the main conditions of both loans.
In, of course, it all depends on the client, if the borrower plans to break the housing, then the mortgage will be more profitable.
Two advantages of consumer loan — the lack of the initial contribution and less overpayment. It is possible to group both options for a loan — take a consumer loan for the initial contribution, and the remaining amount in the form of a mortgage. This in some cases is much more profitable than without the initial contribution.
The issue of mortgage loan without the initial contribution can be solved by buying housing in terms of the value of the market. If the seller is ready to give property with a discount of 10-15% of the average market prices, then it will be possible to break the apartment without investing your own funds.
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