Mortgage without a certificate of income

The word "mortgage" at least once in my life I heard every person, and many not only heard, but also faced mortgage loans personally. One can quite confidently say that it is a mortgage loan today that is one of the most sought-after types of bank loans. After all, its use allows you to buy your own home. But not all can complete such a loan.

The fact is that in the overwhelming majority of cases for obtaining a mortgage it is necessary to provide a huge number of various documents, the main one being a certificate of income. But, unfortunately, not all people in our country work officially, so many can not imagine it, and therefore they can not get such a loan either. In fact, this is not so, because at present there is a special mortgage without a certificate of income.

Such a mortgage has three varieties:

1. Almost every person who can not confirm the sources of funds will be able to obtain a loan without a certificate of income .

2. The certificate is still provided, but in free form. In this case, a potential borrower can confirm the availability of income by any reference that he can provide.

3. You can submit a certificate of receipt of an additional source of income. This option is more suitable for people who have two or even three jobs. But in this case, one of them must be official.

In any case, a mortgage without a certificate of income gives a chance to purchase housing for those people who can not submit this document. But here there is one nuance. Not every bank issues such a mortgage loan. In this connection, the question arises where you can take a loan without a certificate of income. In this case, you can use one of the ways to receive it: either contact the special brokers with credit, or leave applications for obtaining such a mortgage in all kinds of banks. Information on both brokers and banks can be found on a wide variety of websites. In addition, it should be noted that most banks on the site necessarily have information on whether a mortgage is issued without a certificate of income. And this information greatly facilitates the search for the necessary credit institution.

At first glance it may seem that this type of mortgage is extremely attractive and beneficial for a large number of borrowers. But is it really so?

Despite the fact that sometimes this kind of mortgage loan is the last hope for getting your personal home, it has a very large number of shortcomings. The main of them are the following:

1. Not every bank issues such a loan.

2. The interest accrued on this loan is much higher, but the time limit for which it can be taken is often much less than the one for which a loan is issued with the provision of the information.

3. Very often the receipt of such a mortgage is complicated by the need to provide collateral.

In any case, even despite such significant shortcomings, a mortgage without a certificate of income is no less in demand than the usual one. But to take this type of loan or not, each borrower must decide for himself.