Mortgage loans – this is a serious loan, which the bank issues for a fairly long period. Unsurprisingly, before you trust your money, the financial institution will want to test whether you are a trustworthy borrower. This is scoring, and security service, and requesting credit history in the Bureau, its study, evaluation and decision-making on the bank’s credit committee. And if you have dark spots or you are young, the bank has the right to refuse to issue a loan. There are no official reasons for failures, but there are a lot of such failures. This is the level of the economy, refinancing rates, internal regulations of banks, the number of defaults, the age of the borrower and much more. For this reason, people often wonder if they will approve a mortgage. The answer to this question can not be unambiguous. However, no case can be considered completely hopeless, you can always find a way out.
In what cases can the credit history be spoiled?
1. Forgot to pay. It happens that in the turmoil of things you forget about the cherished figure in the calendar and do not pay on time. It seems that it’s okay to be a little late, but banks do not forgive such things. Small and rare delinquency will not spoil much, but when paying out a loan, they can pay attention to it.
2. Delayed payment for a month or more. If you have closed the debt later than it is supposed, you will be considered an unreliable borrower. The bank will not care what caused you to be late with the payment: illness, salary was detained, etc. You should have warned about it beforehand, or even better to provide evidence. On the floor you will hardly be believed.
3. Generally could not pay the loan. If you still have a loan that you could not pay off, it makes your story not just bad, but extremely bad. The probability that the bank will decide to give you a mortgage is very small.
4. You are not to blame. Not always that the credit history is spoiled, is your fault. For some reason, an error may occur in the bank or in the bureau itself. Perhaps you made a payment, but it only came in a few days, the bank mistakenly accepted it for delay. If you are sure that you have always paid properly, contact the bank, present checks with dates, so that your honest name is restored.
5. Early repayment. It would seem that this is an undoubted advantage – to return the bank money ahead of schedule. However, financial organizations do not like to deprive themselves of profit and interest. To this end, commission for early repayment is sometimes introduced. Of course, your credit history can not be considered absolutely bad, but it’s not a good thing either.
6. The worst thing that can happen is the reduction in work, or the economic situation in the country of which you are a resident. And these factors you can not influence in any way.
The HOME LOANS team found a solution to this problem.
We created an international platform for Peer-to-peer lending on Ethereum Block, using our own HOME (Coin) crypto currency, to lend people to purchase real estate around the world at a minimum interest rate from private investors, without resorting to intermediaries in making sales transactions and performing peer-to-peer peer-to-peer (P2P) transactions.
Such lending will occur using various credit and financial verification tools, as well as its own scoring system of verification. This platform will not depend on the economic factors of the state in which the real estate is acquired and whose resident is the borrower.
|Type of loan||Term (months)||Interest rate||Max amount|
|Lending for housing under construction||1-180||1-3%||300 000 $|
|Crediting for secondary housing||1-180||1-3%||300 000 $|
|Crediting for commercial real estate||1-120||2-5%||500 000 $|
|Crediting for land plots||1-60||1-5%||250 000 $|
|Crediting for own property||1-60||1-5%||250 000 $|
Age of the borrower is from 18 to 65 years (at the end of the loan).
Early repayment from the first month without commissions.
Annuity repayment scheme.
2. The scoring program checks the borrower, and the fund’s employees (in the countries and representative cities) the real estate object on the Jurassic. purity. In countries where the registration authority on the block is a smart contract.
3. This information in an open form is placed on the platform for investors, namely the type of loan, the amount, the collection period, the real estate object (after verification), the scoring result of the borrower.
4. Collecting HOME (Coin) in the temporary storage.
After you have set the required amount of HOME (Coin) (at the exchange rate, in the case of volatility or shortage of tokens, the refund and the difference by a smart contract is taken from the HOME LOANS Guarantee Fund (30,000,000 HOME)): States in which the crypto currency is legal
1. Within the framework of the blockbuster, the registration of the encumbrance of real estate takes place in distributed registers. The technology of blocking will simplify labor-intensive checks of public records for the confirmation of legal documents in real estate transactions.
2. HOME (Coin) are transferred to the purse Ethereum, provided by the seller of the property at the exchange rate on the day of transfer of ownership. Countries in which the crypto currency is not legalized
1. In the legal field where the crypto-currency is not legalized, the registration of rights and encumbrances will take place within the laws provided by the state in which the transaction takes place. A representative of the platform (real estate agency) prepares the jur. documents for registration of a transaction and encumbrances on real estate. In the event that the borrower has a digital signature, the document flow occurs digitally.
Encumbrances are imposed in favor of the legal entity. (With regard to volatility, if at the time of the transaction the price of HOME (Coin) has risen or fallen, on the day of the transaction the required amount is automatically regulated from the Guarantee Fund (20% in HOME (Coin) of the total number of HOME (Coin) issued, which amounts to 30,000 000 HOME (Coin)) or in favor of the borrower or in favor of investors.
2. Insurance of title, real estate and borrower.
3. Money on the day of the transaction is transferred to the seller’s settlement account (a closed account that is unblocked after state registration of rights to real estate or with the help of a banking cell). Depends on the country and laws on registration of rights to real estate.
The borrower’s smartphone is an effective tool for earning HOME (Coin) and checking its creditworthiness. When installing our mobile application, the client will consent to the processing of personal data. We guarantee our clients confidentiality.
EARNING SYSTEM HOME(Coin)
The mobile application HOME LOANS, which unites counterparties in one product, will motivate users to buy goods and services from partner companies (hereinafter referred to as the counterparty) at the expense of Cashback and a system of incentives in the form of the HOME currency (Coin), to which the borrower will repay the loan. Our counterparties are offered the following system of relations:
– the counterparty is registered in the mobile application HOME LOANS, thereby agreeing to the terms and conditions of the HOME LOANS system. In his personal account, he receives a certain number of HOME (Coin) tokens, which are only for the loyalty system, which will encourage borrowers to visit these organizations to get HOME (Coin).
HOME (Coin), provided to partners at the exchange rate HOME (Coin) EPHC (Exchange Price HOME (Coin) – exchange value HOME), are equated to the already developed and working system of loyalty to their customers in the form of Cashback or various rewards that are returned to the client in in the form of fiat money. HOME (Coin) is paid to customers (borrowers) only when he visits a counterparty and pays for goods or services with traditional money, and traditional money from counterparties through the loyalty system is transferred to HOME LOANS. Thus excluding the possibility of fraudulent actions on the part of the counterparty and the borrower by means of an agreement between them on the stable transfer of HOME (Coin) to repay the loan without reinforcement by the loyalty system in the form of traditional money.
The value of EPHC is determined by the value of the exchange rate HOME (Coin) at the moment of execution of the loyalty system
The accrual of HOME (Coin) can also occur if the user visited a counterparty that does not have its own loyalty system to the client, but which is placed in the HOME LOANS system as an advertisement of its product. The fact of the visit is recorded by the definition of geolocation and iBeacon sensors placed by the counterparties. The visit is limited to a time interval (1 visit at 48 hours).
In this system of relations with counterparties, a monthly fee is charged in traditional money for placing this organization in the mobile application HOME LOANS as an advertisement. When a client visits this counterparty by determining geolocation and iBeacon sensors placed at the counterparties, the client (the borrower) receives HOME (Coin) from HOME LOANS as an incentive. The number of HOME (Coin) (Xhc) in this case is defined as the number of the monthly advertisement fee at the exchange rate of the EPHC at the time of the visit divided by 100-500 visits per month (Ypm), and until the monthly advertising fee (UPR ) in traditional money will not be exhausted.
Xhk = ЕПР/Yпм (in the moment of EPHLC)