Mortgage advisory. Ask me, I will answer
I have written few answers on usual questions in begin. But don’t hesitate to send me your question due form bellow I will answer as soon. It’s free of charge.
Is it the lowest interest rate equal to the best mortgage?
It seems easy to compare two interest rates: 2,8 % is lower than 3,1 %. But in practice the lowest interest rates may not mean the lowest mortgage payment. Moreover, the same interest rate in different banks may not mean the same payments, for example for invisible fees.
What is the most accurate mortgage calculator?
The my, calculator for employees and self-employee, of course. Because it used real data sent from you. In other way it’s only some better crystal ball.
How to get mortgage?
It’s easy in principle. It’s necessary to choose and evaluate property by bank estimator, declare your incomes and sign contract in the bank.
In practice we solve adaptation bank conditions, terms of buying property, flat finalising, moving etc.
What mortgage amount I can get?
The most accurate if I calculate it regarding your data. For basic orientation you can see the tab.
Myths and facts about mortgages (2019)
Myth 1: There is not possible to finance 100% of property price. You must use your own money.
Yes, mortgage can be 90% of property value maximum. But in few banks is still possible to use second loan for the rest 10% of price. The elegant way is to use second property value as a pledge.
Myth 2: After CNB regulations in 2018, there are 20% clients, who don’t get any mortgage in bank.
It’s not true, only possible mortgage amount decreased.
Myth 3: To get mortgage in my own bank is the simplest and advantageous, because it knows me for years.
Yes, mainly the second sentence part is valid. Your bank knows you very well, but it is not advantaging every time. We had to go to another bank with several clients, because internal rating in their own bank was not so good. Although official credit history in bank register was ok.
Myth 4: To get mortgage without life insurance is not possible.
I think, it’s not bad idea to have it, but it’s not necessary. It was valid many years ago and only for some risk clients.
Myth 5: If you build house, you must show invoices in the bank.
This is not true for many years. Bank checks building progress only due to estimator visit.
Myth 6: If self-employee declares fixed fee (flat rate) mortgage is non real.
Even self-employee with tax optimization can get mortgage. With similar parameters as employee. But not in every bank, and maybe new tax declaration preparing will be necessary.