How much is mortgage?
For many not a secret that upon purchase of housing on credit the borrower incurs numerous expenses which are not always obvious. Studying terms for crediting in brochures and on the bank websites, the potential client first of all pays attention to such things as an interest rate, credit term, the minimum and maximum sum, requirements to the borrower and a subject of pledge.
However, besides repayment of a principal debt and percent which you should do during all term of the credit (as a rule, monthly) the mortgage assumes at least three more types of obligatory expenses, namely:
1. Services in search of real estate, its assessment and other objects of pledge, registration of the contract of purchase and sale, the mortgage, the property right, and the other expenses connected directly with the acquired housing.
2. Insurance of the borrower and real estate object.
3. The commission to bank for service of the credit and other operations.
Without stopping on the first two types of expenses, in this article we will try to consider in detail the last to estimate the actual cost of a mortgage loan.
As a source we will take information published on the official Websites of the banks which entered the first twenty of the most mortgage banks of Russia for the first half of the year 2006.
The most often found expenses on the credit (at those banks which specified them):
The commission for opening of the loan account
Sometimes it is called “ commission for maintaining the account “ “ commission for opening and maintaining account “ “ commission for registration of the credit agreement “ “ paperwork commission “ (not to confuse to the commission for consideration of the application or expenses 1 - y group!) .
Is the lump sum to bank which is usually carried out after the application together with all documents is considered and the positive decision on issuance of credit is made.
the Amount of payment differs from bank to bank - most often it makes 1% of the credit sum, however also 1,5% meet. Sometimes the sum fixed in rubles or US dollars. Most often, both in the first and in the second case, it is in the range from 3 to 45 thousand rubles or their equivalent.
The commission for consideration of the application
Most often and is called, sometimes appears as “ analysis of solvency “ “ conclusion of credit committee “ etc.
the Lump payment which is made by the potential client BEFORE consideration of the application by bank. Sometimes the fee is charged also for reconsideration or modification of the initial application.
the Usual sum - 1000 - 1800 rubles, however to us one bank where the sum can make up to 4700 rubles met. Some banks carry out consideration of the application free of charge.
The commission for cashing in of means
it needs to be considered when calculation with the seller is perfromed by cash. Strictly speaking, this commission is not specific to the credit - some banks take from the clients a certain percent from the sum withdrawn by cash from a current account in cash desk of bank or the ATM. Others have no such commission, but the most widespread option - when the fee is charged since some rather large sum. It is possible to get acquainted with it, having studied tariffs of bank for service of current accounts of natural persons.
Most often meets a rate of 0,5%.
The commission for wire transfers
Also a payment for usual operation of bank which can arise in case with the seller the clearing settlement is perfromed. For this reason it most often does not come into the view of the borrower. However, if you are going to transfer the credit sum from the opened loan account into the account of the seller in other bank (or branch of the same bank), surely take an interest in the size of this commission.
Usually it makes the fixed percent from an amount of transfer and is ranging from 30 to 5000 rubles. For the translations in branch the commission, as a rule, is absent.
The payment for rent of a safe deposit box often is required to
At cash calculations rent of a safe deposit box in the bank which issued the credit. Most it is widespread in that case when selection of housing happens after receiving the credit.
the Amount of rent can make from 500 to 4500 rubles, depending on bank and a cell.
So that to minimize the expenses, it is necessary to study attentively tariffs of bank and to choose the option of calculations which is most arranging you with the seller. And it is desirable to do it even before application.