What is AHML? Features of the organization

Mortgage has long been considered a popular service, as it allows you to purchase your own home. For this purpose, the Agency has been created, which allows to issue this type of loan. It offers programs with its own terms, which can be profitable and reliable to issue a mortgage. Further in the article we will describe what AHML is and what conditions are offered to the owners of housing.

The concept of

So, what is AHML? This is the Agency for Housing Mortgage Lending. The organization was founded in 1997. The basis for its creation was the government decree of 1996. The shares of AJIK are state property.

Objectives and activities of the structure

What is AHML for citizens? The organization has the following objectives:

• Creation of uniform norms of housing mortgage.
• Providing affordable loans.
• Carrying out mortgage refinancing.
• Creating a secondary market.
• Formation of the securities market.

And what is AHML for the country? This organization allows developing mortgage products, as well as providing banks with liquidity. The country has AHML of federal importance and subordinated organizations of regional level.

With banks, the Agency does the work according to the following scheme:

• They determine the terms of the loan and consult with the borrower.
• The partner bank issues a loan.
• AHML acquires the right of a loan from a partner banking institution.
• The Agency receives the funds to receive mortgage claims under the placement of bonds on the stock market.
• After the change of creditor, the borrower receives a notice that the mortgage has been transferred to the Agency, as well as new details for payment. It turns out that the loan was issued by the state.

The above scheme indicates that the parameters of the terms of the contract are more attractive than in private banks. This is due to the policy of the state, which makes the mortgage affordable. But there may be additional costs from banks.

Benefits

Many apply to AHML. Assistance to mortgage borrowers has the following advantages:

• This is a government institution.
• Since the client applies to a banking organization that is a partner of the Agency, the latter performs the function of insurance against changes in the originally stipulated conditions.
• The Agency offers various mortgage programs, since different groups of the population are taken into account.

Minuses

But there are also some nuances of cooperation with AHML. Mortgage in the organization has its drawbacks:

• Applications are considered for a longer time, which is connected with a two-stage analysis of documentation - first the work is done by the Agency, and then by the bank.
• Proposals of some banks compete with the Agency and have more favorable rates.

Requirements for borrowers

Banks participating in the program work under the terms of the Agency and issue loans. So, in the standards created by him, there is a procedure for issuing mortgages, there is refinancing and escort. Also, there are requirements to deal persons.

Borrowers must meet the following conditions:

• Presence of Russian citizenship, registration at the place of residence or stay at the time of registration of the loan.
• Mortgage is provided to citizens aged 18-65 years.
• According to one contract there should not be more than 3 borrowers.
• The borrower confirms income with a 2NDFL certificate or fills out the form offered by AHML.

More information about loans is available on the official website of AHML. The agency monitors compliance with standards in the country, so the design of the mortgage in it is considered reliable.

Types of programs

Each AHML program is characterized by the following features:

• Loans are granted in rubles.
• The initial payment is 10-30% of the value of the property.
• The amount of payment can not be more than 45% of the client's income.
• It is necessary to make out insurance.
• If the amount of the first installment is less than 30%, then it is necessary to insure the borrower's liability.
• You can insure life at will.
• Housing is used as collateral.
• The maximum term of the loan is 30 years.

Each program AHML has its advantages and disadvantages. One of them is "New building". It was created to provide mortgages for apartments in houses that were built after 2007. The program is also extended to housing in "economy" houses. The rate is 6.15% -11%.

The "Maternity Capital" program allows increasing the size of the loan granted for the amount of capital. It is also used to pay an initial payment of 10%. The rate is 7.65-10.75%, if the housing of the primary market, and 8.65-12.45% for the secondary market.

The program "Military Mortgage" is intended for military personnel who participate in a funded mortgage system (NIS). They can get a loan up to 2 200 000 rubles. This amount of income is not affected by this mortgage. The maximum period is determined by when the client is 45 years old.

Each program allows you to get a mortgage on favorable terms. The procedures for issuing and paying off are quite simple. Customers are given more advantages than when they receive a standard mortgage.