Multi-Criteria Evaluation of Mortgages

Abstract

Mortgage is a long-term loan, which is secured by lien on real estate. This type of loan serves on the real estate investment, their construction respectively their acquisition. Mortgage may have various forms and conditions, depending on individual banks. In addition to the differences in their docility, mortgage may also vary in a desired value of real estate, in demonstrating income for repayment, the construction of payments, in the accompanying service offered, price as well as the speed of loan granting. The aim of this paper is to find the most suitable mortgage using multi-criteria evaluation. The paper is divided into three chapters. In the first chapter we focus on the definition of theory of multi-criteria analysis, the second chapter analyses the development on the mortgage market in Slovakia during the last five years, and the last chapter focuses on finding most suitable mortgage using method of multi-criteria evaluation.