Mortgage loan: conditions, rules and nuances
Currently, a mortgage loan can be issued in dollars, euros or rubles. Interest rates tend to decrease, albeit insignificant. As a rule, when issuing a loan in dollars, interest rates are lower than with ruble loan. The initial contribution is not as large as when installments, and usually is not more than 30% of the cost of the apartment. If the initial fee is too low, then the bank risks, and in order to compensate for the risk, it can make high interest rates on the loan. A mortgage loan is provided for a longer period than when buying in installments. The loan term for a mortgage can reach 30 years, the main thing is that the borrower is not over 75 after the end of payments. The borrower, if desired, has the opportunity to pay off the loan ahead of schedule.