Mortgage: what is it? And other topical issues
To begin with, I would like to say a few words about when and how the mortgage appeared. What this operation represents is already known in ancient Rome and ancient Greece. In those days, such a word called a pillar, which was installed on the land of the debtor on any obligation. On the column, the names of the borrower and the creditor, as well as the dates when the debts should be repaid, were indicated. From the territory marked in this way, it was impossible for the person who was in arrears to bear or take anything out.
In pre-revolutionary Russia, there was also a mortgage. What is the direction of financial activity exists, was almost forgotten during the years of Soviet power. Therefore, many modern people who took advantage of this financial service were often in a difficult position, because they did not calculate their strength. In Russia, from the 13th and 14th centuries, they knew what a mortgage (real estate) was, according to the rules of which, one who could not pay off his debts lost his property, giving it to merchants, money lenders, or sometimes even monasteries. Mortgage, similar to the modern, in the Russian Empire appeared in 1881.
In which countries is best developed mortgage? What is it to take a loan for the purchase of housing for a long period of up to 30 years at a small rate of about 6% per annum, the Americans are most aware of. Residents of this country until the last economic crisis willingly took long-term loans for the purchase of a house. Moreover, at a price of about 1-2 thousand dollars per square meter, many of them had a salary of about 5 thousand dollars a month. Today, loans for housing in the United States are issued for up to 15 years, and many residents of cute cottages have become homeless due to loss of work and lack of ability to repay the loan. Mortgage without a fee is not common there. Those. The potential owner of real estate should be accumulated about 10-20% of the amount of the apartment that attracted him.
In order for Russia to approach the pre-crisis mortgage standards in America, it is necessary that the economy does not experience serious shocks. In this case, organizations and individuals will invest money in banks for a long time, which will enable credit institutions to provide long-term loans with minimum rates. Today, more or less significant money resources of such a plan have only the largest financial organizations, like "Sberbank".
Calculate the mortgage can be using credit calculators, which are offered by banks. To do this, you need to choose the currency and terms of lending, determine your net income, calculate the available funds for the purchase of housing (at least 10%), find out what programs are effective for a particular category of the population (for example, young families), etc.
The Russian economy did not experience serious blows during the last world crisis, so many families became available mortgages. What is a mortgage for those who used it? First of all, this is the opportunity to live in almost your own housing, giving money to purchase it, and not for renting. For those who took the loan before the rise in house prices and successfully repaid it, this financial service became an opportunity to make good money selling apartments at a higher cost. However, there is a fairly large group of people who lost their jobs and could not redeem the desired square meters. Therefore, when concluding mortgage contracts, you should carefully weigh all the risks, especially if in the family only one person has high enough income, using which it is supposed to extinguish the loan.