Frequently asked questions about loans and financing
How is the monthly installment of the loan calculator calculated?
The monthly installment is calculated for the following factors: leasing period of 30 years; indicative interest rate of 3% and deductible of the borrower in the amount of 30% of the sale price of the apartment.
The loan calculator is informative and for more detailed information we advise you to contact us or your bank.
Which banks do you work with and what are the differences in the conditions?
Our partners are most large commercial banks such as DSK Bank, Raiffeisen Bank, Postbank, UniCredit Bulbank, First Investment Bank and others. Of course, we also work with all other legitimate banks in the country to find the most suitable conditions for our customers.
What documents do I need to apply for a loan?
Each bank has its own list of necessary documents for granting a loan. Most often they are reduced to:
- Document proving income (issued by the employer or).
- Employment or civil contract with an employer.
- Certificate of marital status and family members (issued by the ESGRAON service in the Municipality of residence)
- Certificate of lack of obligations (issued by the NRA to the municipality of residence)
- Your bank may request additional documents during the review process. Our team will assist you throughout the process to obtain approval as quickly and efficiently as possible.
At what stage of construction does the bank grant a loan?
Housing loans are given after reaching the form Act 14 of the construction. If a client wants financing at an earlier stage, it is possible to achieve this with a consumer loan, the latter being refinanced with the housing loan afterwards.
What can lead to credit disapproval?
The conditions for approval are different for each bank and approval is given by the relevant department in it, but it is known that the following factors may affect the approval:
- Recently changed new job;
- Delayed installments on other loans;
- Availability of additional loans, aggravating your financial situation.
- What can improve my chances of approval?
- The down payment is one of the most important parameters for creditors. The higher the down payment, the greater the chances of approval and more favorable loan terms;
- Declaring all incomes and providing documents for them;
- Collateral with another property;
- Co-debtor to the loan - this gives a guarantee to the bank that two people will be responsible for the loan and the chances increase greatly.
What is the difference between a home loan and a mortgage loan?
A home loan is a loan for a new home. While with the mortgage loan you get financing against collateral for a property (mortgage) that you own.
What is the difference between a contractual and legal mortgage?
A legal mortgage can be entered by itself, however, follow the conditions:
- Borrow a loan / loan for procurement of goods.
- A loan / loan is equal to or slightly smaller than the selling price. But if you take the price of the sale, the rags and the contractual mortgage are established.
- Borrow a loan either to your seller or to a bank. As for the third person, you have to go on a loan, for yes buy a property, a rag and a contractual mortgage has been established.
Mortgage is agreed upon under the format of a notarial deed and all signature from both the lender, the borrower, the owner of the mortgage, as well as the contractual agreement, which is the same. Mortgage under the format e has been legalized; the signature itself is from the lender.
You have a legalized mortgage and foreign identification (signature is by itself from the same country of the borrowing country), notarize a taxi for the certificate of legal mortgage in the same way as the mortgage for the contractual mortgage. Tax for inscribed on the Agency for inscribing sa ednakvi and dvat type of mortgage.
Do you have other questions? We will be glad to be useful to you!
Call us at +359 876 112 222 or use the contact form.