Moving . When changing your place of residence, it is not always possible to quickly rent out or sell your previous apartment. Meanwhile, it is necessary to settle in a new place: for this, you can apply for a second mortgage loan.
Buying a future home for children or other relatives . Many people buy additional housing with a mortgage to give it to their children in the future, move their parents closer, etc.
Investment investment . Finally, buying a second apartment with a mortgage is a good way to invest. Monthly loan payments can be fully or partially compensated by renting out the property, and in the future it will bring in a steady income.
A previously opened mortgage loan does not exclude the exit mobile number database possibility of applying for a new housing loan. You can try to get it from the same bank or from another bank: it all depends on how favorable the lending conditions offered by them are.
However, having one mortgage can become a serious obstacle to obtaining a second one: this is all due to the recently tightened requirements of creditors, who are forced to comply with the recommendations of the Central Bank of the Russian Federation. Thus, the probability of issuing a second mortgage is extremely low if the total debt burden on the borrower upon its approval exceeds 50% of his average income.
It will also not be possible to take out a second mortgage in the following cases:
The borrower wishes to take out another loan under one of the preferential mortgage lending programs before the first one is repaid. For example, a second family mortgage with a preferential subsidized rate can only be taken out after the first one is fully repaid, as well as after several other conditions are met.
The client applied for a second loan under a preferential program, which provides for only one-time lending. These include rural, Far Eastern, Arctic and IT mortgages.
If a client pays a preferential mortgage, he can apply for a second one only under general conditions at the market lending rate.