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10 facts you need to know about mortgages

Fact #3. It is possible to calculate the right mortgage without going to the bank

First, it is important to decide whether you will choose a property in new construction or the second home market. The interest rate and mortgage program will depend on this. Apartments in buildings under construction are usually cheaper than apartments that have already been built. Especially if you buy them in the design or construction phase. Also, there are more loan programs for new construction, and interest rates are lower. But cheaper is not always better. Both second homes and new construction homes have their own characteristics that you need to consider when choosing, and only then can you make a decision.

You can do all the calculations yourself and choose a suitable option. For this purpose, a special mortgage calculator has been developed, and one of the most convenient is available on Sberbank’s DomClic service, which you can find here. You can use it to calculate the monthly payments and the term of the loan, choose the best mortgage program, find out the interest rate and even download a payment schedule.

Fact No. 4. you can save a lot of money on your mortgage rate

 health insurance

Let’s see how much interest you can deduct from the mortgage rate, for example :

  • 1% discount on life and health insurance with Protected Borrower. This policy not only saves you money but also protects you against the unexpected – the insurance company will pay your loan to the bank in the event of an accident. We will discuss this program in more detail later.
  • A discount of 0.4% on the mortgage rate for young families. This offer applies to the purchase of a property on the secondary market. To participate, a spouse must be under 35 years old, and the discount is also granted to single parents – a mother or father with one child.
  • 0.5% discount for customers who make a payroll. It applies to finished and under construction apartments, land plots in the countryside, the construction of residential houses, the purchase of a garage and a parking space, as well as non-purpose loans secured by real estate.

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