Both the borrower and the lender should sign the agreement in front of two witnesses and the signatures should be verified and authenticated by a notary. The mortgage contract does not create the loan itself if a right of pledge is simply granted on the property. They need a separate agreement detailing the loan. This agreement must be submitted to the competent local reception centre. For comparison, check out the Federal Reserve`s current survey of corporate credit conditions or current average mortgage interest rates released by the Federal Reserve Bank of St. Louis. In today`s economy, with the strict credit conditions imposed by most banks and traditional lenders, many borrowers struggle to secure financing for the purchase of a home. . . .