There are no fundamental differences between the registration of the first, second and subsequent mortgage loans. When considering applications for the next housing loan, banks evaluate potential borrowers according to the following criteria:
Solvency . To be approved for another mortgage, the client must have a high level of income and document it. The lender calculates the maximum debt burden (MDB), which includes payments on all previously opened loans, existing credit cards and other obligations, as well as the estimated monthly payment amount for the new loan. Together, they should amount to no more than half of the average income (ideally, up to 30%). If the DBD exceeds 50%, the bank may refuse to issue a mortgage, reduce the approved amount or offer a longer loan term.
Amount of down payment . The more of their own funds jiangxi mobile number database the client is willing to contribute when purchasing an apartment on their own, the better. This not only allows for a reduction in overpayment on the loan, but also serves as an additional advantage for the borrower. Lenders evaluate the availability of available funds in the client as an indicator of their financial literacy and confirmation of a stable income level, so the likelihood of approval in this case is much higher.
The remaining debt on the first mortgage . If it is insignificant, this also increases the chances of approval of the second loan.
Number of dependents (minor children or disabled relatives). Their maintenance is also associated with additional costs, which creditors take into account when considering the application.
Credit history . It is desirable that it be impeccable. If there are late payments or debts on current and past loans, approval of a new one will most likely be denied.
Before applying, study the banks' offers for housing loans and choose the best ones. If your first mortgage is not preferential, try applying for participation in special mortgage programs where the interest rate is partially subsidized by the state: however, you need to meet their requirements for this.
From the approved applications, select the one for which the lender has offered the most favorable terms. To draw up a loan agreement, you will need to collect a standard package of documents:
Passport of a citizen of the Russian Federation with a mark of registration in the region of application to the bank.