How to choose the term of your mortgage?

Russians banking "bondage" are afraid, like fire, and always try to quickly pay off your debts. Tactics is correct - according to our calculations, the lower the term of the loan, the smaller and overpayments. Russian banks are willing to issue mortgages for a period of 3 to 30 years. The choice is wide, though with a loan will always take into account the borrower's age. The main thing that the last payment was made prior to retirement (55 years for women, men - 60). While the big time in our country are unpopular - the Russians want to take a mortgage is not greater than 10, 15 and 20 years. Dear loans Many borrowers are trying to conclude a contract and get credit for the shortest possible time, to quickly pay off the bank. The term has a direct impact on the overpayment. For example, we calculate the loan cost 3 million rubles., Taken by 12%. When 5-year borrowing debtor overpays bank at an interest rate slightly more than 1 million rubles., A 10 year - 2.16 million rubles. When the 15-year - 3.48 million rubles. And at 30-year-old - 8 1 million rubles. Thus, over 15 years of payments you actually overpay the value of another apartment, and for 30 years - three. Calculations To calculate the optimum life of the loan, you can use a special calculator or do it yourself. If you are willing to pay on a loan of up to 50% of their monthly salary (to a larger volume will not go to banks), the full cost of the loan with interest, divide the monthly payment. This expression, multiply by 12 - and get a number of years.