БЫТОВЫЕ ДИАЛОГИ
англо-русский разговорник

EVERYDAY DIALOGUES
English-Russian conversation guide

       INQUIRING ABOUT                          НАВЕДЕНИЕ СПРАВОК О ССУДЕ
       A CO-OP LOAN                           НА ПРИОБРЕТЕНИЕ КООПЕРАТИВНОЙ
                                                        КВАРТИРЫ
   ----------------------                    -----------------------

Peteter Vinogradov:  Hello.I'm your
customer. My name is Peter Vinogra-
dov.I'm come to ask you for some in-
formation of co-op loan policy.


Bank clerk:How much would you
like to borrow?

P.V.:120,000dollars.

Clerk:Presenty our bank offers ad-
justable interest rates for co-op.
Eixed rates are offered only
to home buyers.



P.V.: Whate is the difference between
an adjustable rate and a fixed rate?

Clerk:An adjustable rate mortgage is
a loan wrete the interest may be adjust-
ed according to prevailing market rates.
If you applyfor aco-op loan,your rate
will  be adjusted at the end of the
year. Until the end of the year, you
are locked   into  a specific  rate.
At the end of each year, the rate can be
reassesed. Do you follow  me?





P.V.: Yes,Ido.  What about fixed
rates?

Clerk:A fixed rate mortgage is a
loan where the interest rate re-
mains the same for the entire term
of the mortgage, for instance, for
15 or 30 years.
					
					


P.V.:What is the adjustable rate for
a 120.000 dollar co-op loan?
					
					


Clerk:7.625%+2.25 points.

P.B.:Could you explain to me what
a point is?

Clerk:A point is 1 percent of the
amount you are borrowing.

P.V.:How much would 2.25 points
be  in my particular case?

Clerk:2.25 points would equal 2.700
dollars.Once you are approved,you
are locked into that rate.
					
					
					

P.V.:Who approves my application?
					
					

Clerk:The bank's real estate depart-
ment.

P.V.:What information does the bank
require for  approving a co-op loan?
					
					

Clerk:Your employer will have to veri-
fy your income.Besides you'll have
to submit a credit report.The bank
will find out if there are any out-
standing debts.
					
					

P.V.:What proof of income is required
if I am self-employed?

Clerk:A copy of your recent income
tax return is required.



P.V.:Thank you very much for your
detailed information.

Clerk:You are welcome.