Alternatives mortgage

• Accumulating Housing Cooperative (WNC);
• Credit consumer cooperative citizens (KPKG);
• Loan.

Accumulating Housing Cooperative (WNC)

Housing savings cooperative  — a non-profit organization created specifically to meet the housing needs of citizens. ZHNK work on the principle of mutual cashier. For entry into the housing cooperative in general need to make an initial cash payment, the minimum amount which may be about 10000-15000 rub., Of the documents required only a passport. Then a member of the cooperative is obliged to replenish cash totalling regular contributions. In doing so, he can choose for themselves the most comfortable savings scheme (the timing and size of the amounts contributed) that really makes affordable housing . When the accumulated amount of 30-50% of the cost of housing, which is expected to purchase, and expire on the necessary period of accumulation (the law is a minimum of 2 years), a member of the cooperative receives from the general funds to purchase cashier shelter for themselves. He can set and live in the acquired area, gradually paying in ZHNK the amount, which won for its purchase. For the money made in WNC, a member of the cooperative pays membership fees, which constitute 3-7% of the remaining amount of debt. The term of repayment of debt owed to ZHNK could not be greater than the waiting period polutorakratnogo credit. That is, if a citizen for 4-year backlog in WNC 50% of the value of their homes and bought it, the remaining 50% received in WNC, a citizen must return within 6 years (1.5 × 4 years = 6 years). Once fully with the calculation of WNC, a citizen receives housing and property ceases to be a member of the cooperative.

ZHNK advantages compared with the mortgage — is low interest rates on borrowing and much smaller additional costs in obtaining a loan, the minimum initial contribution, there is no need to confirm their income. You can also set off without shelter or housing certificate as a contribution to the cooperative. Disadvantages ZHNK — this limitation period loan (to receive installments over 10 years needed to withstand the period of accumulation of 6.6 years (10 years / 1,5), for 15 years — 10, etc. That restriction deprives members ZHNK chief pleasure, which provides mortgage — immediately get new housing by paying only a portion of its cost. Finally, until full payment of financial assistance received in WNC, a member of the cooperative is not the owner of housing and assumes the risks associated with the failure of financial and economic activities of cooperatives.

Credit consumer cooperative citizens (KPKG)

Credit consumer cooperative citizens  — this is a voluntary association of citizens, created to meet their needs in the financial mutual aid. According to the principle of its work consumer cooperative is very similar to the WNC. The difference is not much. First, the credits can be issued to any members of the cooperative needs — buying real estate, automobile, payment of education or treatment, the start of business, etc. Secondly, when purchasing housing cooperative will immediately become a member of its owner and a housing cooperative before the full calculation on the loan. And thirdly, a citizen can receive a certain percentage of the funds which he had provided cash to the overall consumer cooperative. Conditions for obtaining loans for housing in each nominated by their consumer cooperatives — that determines how many « affordable housing » truly accessible.

Loan

Consumer credit is acceptable as a solution to housing problems in the case where the required amount is small or when the mortgage housing impossible. Such a loan from the banks and other lending organizations. The rates on consumer credit above and less time-frame (up to 5 years) than on mortgage. But when consumer credit substantially below the additional cost and simpler procedure for obtaining.