Programs For Young People Crediting

Credit programs are conditionally divided into some big groups. Let’s look what programs and conditions banks offer for youth in each group.

The first group is mortgage. Requirements to mortgage loans are very strict. Not everybody who has stable earnings and successful career is capable to take the loan for a mortgage. In such conditions it is not even worth talking about credit granting on youth mortgage to jobless students. Usually banks practice granting a mortgage to people having a family. At that both spouses should have the worthy income.

The youth mortgage is reckoned on borrowers of 25-35 years old who have fixed earnings which give the chance to pay the credit for a mortgage without failures. Most often, the spouses who graduated, working at one place at least a year and getting their salary not in the envelopes become such borrowers. Such applicants can also take part in a state program on granting subsidies which will pay back part of costs for mortgage payment.

The second group is car loans. Such credit is much easier to obtain for young people in the bank than for purchase of housing. Many banks grant a car loan since 21 years old. There are also such banks that can issue the loan from 18 years old. But in this case the express credit with very high rates and sales charges is applied.

The third group – credits for purchase of goods. This type of crediting is the most available to the younger generation, the majority of banks grant such loans from 18 years, and number of documents for obtaining such credit is minimal.

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