Misconception 1. Now take the unprofitable mortgage, it's better to wait until rates fell to expect that a miracle occurs, reduce the percentage, housing will become cheaper, and we will solve the housing problem – very cautiously. Let consider what happens when falling interest rates: money will become available, a large number of people who can afford to buy their own homes, the demand will grow and prices will grow again, and proposal (ie the number of housing) will remain the same. You just have to take more credit – that's all, the monthly rise in house prices negate all the benefits of lower interest rates. In addition, while you wait decline property prices (for example, 10%), inflation is up 15% devalue your savings, and the cost of repairing the upcoming increase. In general, you should not expect miracles, we must act. If in the future there will be programs with lower interest rates can be refinanced mortgage: a loan from another bank to repay the balance of payment in the first. Misconception 2. Without imposing the initial contribution is not worth thinking about mortgage Many from potential customers, not having sufficient funds for an initial fee, by calling one or two of the bank, decide that, not having sufficient funds for the down payment to purchase an apartment does not succeed, so you need to wait and save money. As a rule, is now an initial contribution of standard banking software is 20-30% of the purchase price.