What can you buy with a mortgage?

The most demanded type of mortgage in Russia - are loans for the purchase of finished residential property. At the same time more than half of the borrowers prefer the secondary market apartments in new buildings. During the crisis, the only type of housing, which lent the banks were finished apartment. However, in November-December 2009, it became possible to get a mortgage for the purchase of housing under construction, country cottages or land. Buying low-cost apartments in new buildings has become profitable due to the mortgage program in partner banks AHML. For example, a loan 10,25-11,5% in rubles can be obtained if the initial payment of 20%. Accommodation in houses under construction are willing to lend to most mortgage banks, and as collateral may make law for the purchased apartment. Earlier, banks lend to new housing only under the guarantee to existing property. Credit for the purchase of housing under construction now available under the 13,5-16% per annum in rubles for a down payment of 20-30%. And in the Savings Bank in buying flats from developers, customers of the bank, the amount of down payment on your mortgage is only about 10%. Loan to buy a suburban real estate now available in 14 banks, with interest rates on such loans often do not differ from the standard mortgage programs for purchase of apartments. However, the size of the down payment when buying a cottage can reach 40-50% of the value of real estate. Loans for the purchase of lands for development projects provide only a few banks: RosEvroBank, Societe Generale Vostok, TransCreditBank, the bank "Zenith" and RAB. For example, a loan from TransCreditBank granted for a period of 1 to 5 years, subject to advance payment of 30% at 16-18% per annum. Among the relatively new mortgage product called Credit Analysts 100 loan to purchase real estate, located in the mortgage from banks, and restructuring designed earlier mortgages, which allows to reduce the monthly payments. However, some banks offer mortgage refinance also issued in other credit institutions. Get a loan to refinance can be at 13% per annum in rubles and 9.1% in dollars. In addition, some banks offer borrowers a commercial mortgage. Thus, the IBC may be issued or Rosbank mortgage for the purchase of commercial real estate. The guarantee in this case will make the object of purchase. However, the mortgage is not limited to property acquisition. Today, borrowers can apply for no-purpose consumer loans secured by housing and the amount of the loan can be up to 70% of property value.