If you decided to purchase a home using a mortgage , then it is good to think about some aspects . First you should think that your financial resources to pay a deposit . For mortgage loans , banks generally require a deposit of 25-30 % of the imobililului . Then you have to consider whether or not you are eligible to receive the loan from the bank.
If
dumnevoastra income is too low to achieve the desired amount , you can
bring up to 2 debtors ( 1st degree relatives ) who also are eligible . And most importantly you need to have it cleared from your income you can afford to pay rates then ?
What it means to be an eligible customer ?
Eligible customer is a person who has a stable income , been
documented , no outstanding bank loans or other state and that , if the
income is from salary , is employed at a company that made a profit at
least the previous year.
If
you have determined that you are eligible for bank customer , then you
can proceed to the next step, namely calculating the rate that , in view
of the bank , you can afford . The
formula is as follows: the average net income of your last 3 or 6
months subtract 300 lei ( personal monthly shopping ) and if you have
other credit rates , rates that amount to be paid . The result is divided by 2 (because the banks allowed a gearing of 50 %
) and this way you get approximately the monthly amount that you can
afford .
example:30 years young , unmarried , without dependents , no other loansAverage net salary in the last 6 months = 2000 lei= > (2000 - 300) : 2 = 850 lei£ 850 bank rate is the maximum value that this client can afford to pay monthly .
Further,
if you want to know how much you can give as a bank loan , multiply the
rate that you pay by the number of months you want to contract credit. You will get the total amount of the loan upon completion of the contract. This amount includes absolutely all fees and interest charged by the bank , and life insurance if necessary . So
this result we divided by 2 ( if we refer to a period of 30 years ,
most likely over the loan contract will be paid in total twice the
amount borrowed ) and you found out the approximate value of the loan
that give it to you bank.
In our example :£ 850 x 360 months = £ 306000 - is the total amount of credit25500 : 2 = £ 153,000 - is the approximate value of the loan that the bank gives to the young .
It
should be noted that if the young man in our example would have a
dependent child , then his income would drop his basket so monthly, and
the child, ie instead of 300 lei , 600 lei would decrease . Obviously in this case , the data change considerably .If the young man wanted to get a larger amount , then you have to bring the debtors . In this case, the rate you can afford to pay is calculated as follows :
the amount of income the debtor and co-debtor minus their daily baskets
and divides the result by 2.
Be careful though when you bring debtors to their ages !The loan can be contracted for a maximum of 30 years on condition that
the borrower and co-debtors to fulfill up to 65 years after the
contract ends .For example, if one of the debtors is 50 years , the loan can be contracted only a maximum of 15 years. It
can make quite small deviations , but the rules in this respect differs
from bank to bank and it is best to have discussions with several
financial advisors from several banks , or more simply , a bank broker .
