2024 Author: Howard Calhoun | [email protected]. Last modified: 2024-01-15 14:07
The dream of owning a country house can come true even if there are not enough funds for construction. To do this, it is enough to contact one of the banks and such a type of loan as a mortgage for building a house will be guaranteed to be issued to you. Also, this type of lending can be obtained through a broker. It all depends on what kind of credit history you have and how much time you are willing to spend on getting it.
Pros and cons of these offers
We issue a loan at the bank.
After contacting the bank and applying for a loan, as well as completing all the necessary documents, you have to wait a long time.
At the same time, to obtain such a loan as a mortgage for construction, you will need to provide a large number of documents, and therefore spend a lot of time. But there is one plus here. It consists in the fact that in a bank the interest rate on a mortgage for building a house is slightly lower than that of a broker, and only because the broker,if you apply to him, he does all the work of obtaining a profitable loan for you. Therefore, many today prefer to draw up and receive a loan through a broker. There are many reasons for this, which we will try to voice below.
2. We issue a loan through a broker.
Let's start with the fact that the word "broker" refers to a specialized company whose main goal is to help the client in obtaining a bank loan. It makes life easier not only for those who, for some reason, cannot take such a document as a mortgage for building a house directly from the bank, but also for those who do not want to spend a lot of time on all this paperwork. Therefore, when receiving a loan through a broker, you can count on the following services:
a) A reliable mortgage broker will match you with the most suitable mortgage loan. For the bulk of borrowers, the most fundamental issue is always the choice of the most profitable lending. That is, the broker focuses on your ability to repay the loan monthly and rights in relation to the purchased house.
b) Correctly and quickly complete the application. Understanding all the subtleties of the requirements for borrowers in a particular bank, a mortgage broker will be able to show your candidacy from the best side and draw up the entire package of necessary documents. The difference between how an amateur does it and how a specialist does it is huge and can be quite significant.
c) Prepare a loan agreement after calculating and agreeing the loan amount with the client. According to statistics,the number of positive decisions on loan applications submitted through prof. brokers, 30-40% more than on applications from borrowers of individuals.
d) Significantly save money on a loan transaction.
Mortgage lending, in which a mortgage is issued for the construction of a country house, is a rather difficult process, and mortgage costs are not limited to monthly payments. Therefore, in any particular case, they will be individual. The broker will help to carry out the necessary calculations and detect possible "pitfalls" in the proposed contract. After checking these data, a mortgage agreement is concluded with the maximum benefit for the client.
e) Refinance the transaction (if interest rates on the loan fall). Now in Russia there is a system of refinancing loans, and this service is actively used and mastered by all mortgage brokers. It is they who undertake the full implementation of transactions related to refinancing. That is, if the loan rate falls, the company will recalculate under the mortgage agreement.
e) Find the most loyal lender. Someone who won't turn down a loan. Refusal to issue a loan to an individual or legal entity is quite a common situation in a bank. And there are many reasons for this. Here they can be easily and quickly eliminated by a mortgage broker who takes full responsibility.
All the benefits of going to a mortgage broker for a "home mortgage" are there. That's why. If the offer is of interest to you, wewe will be happy to help in this matter, please contact us!
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