The Mortgage Application - Home Buying

Posted by Mr. Clark | 6:51 AM | 0 comments »

By Harris Smith


The main problem of preparation for Euro-2012 is the complete lack of hotels to accommodate visiting soccer fans. Authorities promise to provide potential investors to build new hotels with all necessary facilities but seem that nobody wants to invest money in Kiev's estate. And indeed - there are too much bureaucracy in real estate sphere.

When you apply for a mortgage, here is the documentation involved in the process: The mortgage application - initially when beginning the process you will need to complete a mortgage application. This is what a lender will use to run your credit check and get a general idea of your income versus your debts. A lender can also use this information (once confirmed with employment records and financial statements) to put together a preapproval which will provide you with a general estimate on the mortgage amount the lender will provide.

Employment confirmation - if you are a salaried employee with a regular job, you will need to provide recent paystubs that confirm your income. If you are self-employed, typically, you will require 2-3 year's worth of income tax assessments providing your average income.

Preapproval - as a home buyer, you don't need to provide this. This is something that a lender will give you to provide you with a general idea of the interest rate you would pay when purchasing, the mortgage amount and the total monthly payments. This helps you know what price range to shop for when you look at houses.

Contract for purchase - once you enter into a purchase agreement this can be provided to the bank to formally process the mortgage.

Approximately 80% of fans are looking for cheap accommodation and hotels in Kiev, mostly level 5 *, besides Kiev takes 35 place in the world's most expensive hotel services.

And in the sphere of daily rent apartment Kiev guests will be pleasantly surprised - unlike in Europe, Ukraine, the cost of apartment Kiev in two and even three times less than the price for a hotel room. UEFA Commission, inspecting the readiness of Ukraine to Euro 2012, visited Ukraine in June of this year.

So in 2012 we should expect serious recovery in the market of daily rent apartment Kiev cause practical and enterprising Europeans and Americans will not miss the opportunity to save their money.




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