Mortgages from a bank
Lender bank is one of the largest banking institutions. In addition to the regular offer of retail banking or banking services for entrepreneurs and businesses, it also offers a wide range of credit products. Among the best known loans from this bank are fast cash loans – Expres Loan, where interested people can borrow from 30 thousand to 600 000 USD.
For those who need more money, Lender bank has prepared other offers. These include the mortgage from this bank. The mortgage can be granted for up to 10 years, totaling up to 1.5 million dollars.
Parameters of Mortgage
This loan is provided by Lender bank, so it is a bank loan. The maximum mortgage is set at USD 1,500,000. (the minimum loan amount is USD 200,000). The maturity can range from 12 to 120 months (1 to 10 years). The minimum interest rate for this bank loan is 7.99%.
Fees for arranging and maintaining a mortgage
If you decide to apply for a mortgage , you should expect that the bank will require a fee if the loan is approved. This is a fee for granting a loan. Its amount is 0.8% of the total mortgage amount (at least 4000 USD, maximum 12000 USD).
Lender bank also charges an annual fee of USD 1800 (for loan maintenance) and will require you to open a current bank account, from which regular loan repayments are paid (the bank automatically deducts payments and related fees) from this current account). If you are already a Lender bank client, this does not incur any additional costs. If you have an account with another bank, you must be prepared to pay, in addition to the above fees, USD 708 for the annual maintenance of this current account.
How much will bank lend you?
The maximum amount of mortgage is 1.5 million dollars. In practice, however, it also depends on the estimated price of the property you will give as a guarantee. Lender bank is one of the strictest banks. It provides a loan up to a maximum of 50% of the appraisal price of the property (it is common for other banks to provide credit up to 70% or more).
Early repayment of the mortgage only for a fee
This bank has somewhat less favorable conditions as regards the possibility of early repayment of the loan. While it is common for some other banking institutions that there is no charge for early repayment, for Lender bank and its US mortgage you have to reckon that you will pay 1% of the early repayment loan (of the outstanding loan repayment amount). If you decide to pay early in the last year, it will be only 0.5%.