What is a mortgage loan?


Mortgage loan, and the loan is granted to buy a house, build it, “as the first major home is owned” or repaired, also grants for the purchase or repair the holiday “to decide the second” home.

This funding gives the mirth of banks, financial institutions and companies. It can be traced back to grant the loan with a fixed installment payment of quotas, as there is reduced premium payment Tdrajba capital and interest b (fixed interest) or in a non-payment of the premium fixed capital and interest b (variable) interest.

For loans ranging between 5 and 30 years old, but some of the banks up to a period of 40 to 50 Snh.aadh, loan the equivalent of 80% of the property value, and some of the banks up to 100% financing of the property value, in this case The loan be the most expensive, with a request get extra guarantees.

Types of loans
Each loan contract consists of three basic elements which interest rate is chosen, the time period of the loan and guarantee the quality of the added regardless of the collateral. And the interest rate chosen, which determines the quality of the loan contract, if there is:

Hold fixed interest rate when the loan premium does not change during the repayment period.

A variable rate of interest when the loan is changed during the period of premium payment linked Ptgierasar monetary and financial market and the quality of the current interest rate on the loan contract. During the rule that can be applied “spreads” constants (increase) to increase the yield.

Mixed so when can the application of certain fixed rate for another period of changing interest.

At an interest rate initially for a period for a certain period of time in the beginning, it is administered in a low interest rate. At the end of the period, the current interest rate applied by the steady work or Mngarany end of the loan.