What is AHML? Features of the organization

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Mortgage has long been considered a popular service, as it allows you to purchase your own home. For this purpose, an Agency has been created that allows you to issue this type of loan. It offers programs with its own conditions, according to which you can securely and profitably arrange a mortgage. Further in the article we will tell you what AHML is and what conditions are offered here to homeowners.

Concept

So, what is AHML? This is the Housing Mortgage Lending Agency. The organization was founded in 1997. The basis for its creation was the effect of a government decree of 1996. AZIK shares are state-owned.

Goals and activities of the structure

What is AHML for citizens? The organization fulfills the following goals:

• Creation of uniform norms for housing mortgages.
• Securing affordable loans.
• Conducting mortgage refinancing.
• Creating a secondary market.
• Formation of the securities market.

And what is AHML for the country? This organization allows the development of mortgage products, as well as providing banks with liquidity. AHML operates in the countryvalues and subsidiaries of the regional level.

The said Agency works with banks as follows:

• He determines the terms of the loan and consults with the borrower.
• A partner bank issues a loan.
• AHML acquires the right to claim a loan from a partner banking institution.
• The Agency receives funds to obtain mortgage claims by placing bonds on the stock market.
• After changing the lender, the borrower receives a notice that the mortgage has been transferred to the Agency, as well as new payment details. It turns out that the loan was issued by the state.

The above scheme indicates that the parameters of the terms of the contract are more attractive than in private banks. This is due to the policy of the state, which makes the mortgage affordable. But there may be additional costs from banks.

Benefits

Many apply to AHML. Helping Mortgage Borrowers has the following benefits:

• This is a government agency.
• Since the client applies to a banking organization that is a partner of the Agency, the latter performs the function of insurance against changes in the originally agreed conditions.
• The agency offers different mortgage programs, as different population groups are taken into account.

Cons

But there are some nuances of cooperation with AHML. Mortgage in the organization has its drawbacks:

• Applicationsare considered longer, which is associated with a two-stage analysis of the documentation - first, the work is done by the Agency, and then by the bank.
• Offers of some banks compete with the Agency and have better rates.

Requirements for borrowers

Banks participating in the program operate under the terms of the Agency and issue loans. So, in the standards created by him, there is a procedure for issuing a mortgage, there is refinancing and support. Also there are requirements for the persons of transactions.

Borrowers must meet the following conditions:

• Citizenship of the Russian Federation, registration at the place of residence or stay when applying for a loan.
• Mortgage is available to citizens aged 18-65.
• One contract should not have more than 3 borrowers.
• The borrower confirms income with a 2NDFL certificate or fills out a form offered by AHML.

Detailed information about loans is available on the official website of AHML. The agency monitors compliance with standards throughout the country, so mortgage registration is considered reliable.

Types of programs

Each AHML program is characterized by the following features:

• Loans are provided in rubles.
• The initial payment is 10-30% of the property value.
• The payout amount cannot exceed 45% of the client's income.
• You need to take out insurance.
• If the down payment is less than 30%, then you need toinsure the borrower's liability.
• You can insure life at will.
• Housing used as collateral.
• Maximum loan term is 30 years.

Each AHML program has its advantages and disadvantages. One of them is New Building. It was created to provide mortgages for apartments in houses that were built after 2007. The program is also extended to housing in "economy" houses. The rate is 6, 15%-11%.

The program "Maternity capital" allows you to increase the amount of the loan by the amount of capital. It is also used to pay the initial payment of 10%. The rate is 7.65-10.75% if the housing is in the primary market, and 8.65-12.45% for the secondary market.

The "Military Mortgage" program is intended for military personnel who participate in the savings mortgage system (NIS). They can get a loan up to 2,200,000 rubles. This mortgage is not affected by income. The maximum term is determined by when the client is 45 years old.

Each program allows you to get a mortgage on favorable terms. The registration and redemption procedures are quite simple. Customers enjoy more benefits than with a standard mortgage.