Consequtive stages of loan attaining:
- Applying for a loan – For mortgage lending, person intending to get mortgage loan, applies directly and or attorney bank he/she addressed to applies electronically on his/her behalf. An applicant is issued a registration number through an electronic system. An application is recorded and processed on first come, first serve basis.
- Loan underwriting - in this stage evaluation of repayment ability of applying person, value and state of property loading by mortgage is performing in accordance to provided documents. Consequently loan organization makes final decision on giving or not giving of loan to person wanting to get loan.
- Official registration of mortgage loan - in this stage necessary documents are collecting, loan, mortgage and insurance agreements are signing and confirming in accordance with legislation and arising rights are registering by State.
- Loan allocation.
- Execution of loan obligations – Person getting loan makes payment in accordance with defined payment schedule.