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Mortgage Agency

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Thursday, 24 July 2008 (17:00)
Mortgage Agency
Mortgage Agency  — an organization created by the state for the development of the mortgage in our country. There Federal Mortgage Agency (AHML) and its dependencies regional Agency.

Mortgage Agency works with partner banks as follows. Definition of credit conditions and preliminary consultations borrower’s mortgage — Work Agency. Sam credit-issuing bank partner (on the terms specified Mortgage Agency). Then Agency redeem bank partner of the claim of credit and the borrower becomes a creditor for the duration of mortgage lending. With the change of mortgage lender borrower receives a letter notifying the mortgage on the transition to the Agency and the new bank account to repay the loan. Thus, the borrower receives a loan State to solve their housing problems.

Major credit terms offered mortgage agencies, (rate, period, the size of the initial fee) correspond srednerynochnym indicators. Banks partners can make to the mortgage program in some nuances of the additional costs.

For the borrower, it is important to decide — whether to cooperate with AHML or prefer Bank, which has its own mortgage program. The argument in favor of cooperation with the Agency is its long experience in the mortgage market, supports the argument against the impossibility to obtain a mortgage loan in foreign currency under more advantageous percent.

Name «mortgage agency» is sometimes used in the name of commercial structures that perform functions into the mortgage broker.


 

Hot Topic

 

Mortgage and children

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Additional costs

The amount of additional costs when the mortgage is between 1,5-2% to 7-8% rate mortgage

 

Initial instalment

It's part of the cost of housing, which the borrower must be available to get mortgage

 

Term loan

Credit period when mortgage can range from 3 to 50 years

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