Bank "DeltaCredit", mortgage: reviews, conditions, interest rate

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

According to the reviews, a mortgage from DeltaCredit is one of the most profitable and convenient ways to purchase your own home or improve your living conditions. This is a large financial institution that offers to issue a loan for the purchase of an apartment or its share, a private house at reduced rates. In this article, we will try to understand the intricacies of mortgage lending from DeltaCredit Bank, get acquainted with the current programs, requirements for borrowers.

While advising clients of DeltaCredit, bank managers focus on profitable mortgage products and on the rules for paperwork. Each person who plans to take on long-term contractual obligations must adequately understand and evaluate their capabilities not only at the moment, but also in the coming years.

Mortgage loans

This is the only financial institution in Russia that specializes exclusively in mortgage lending. The company offers potential borrowers the most comfortable conditions for housingloans and various programs. Lender offers:

• relatively low interest rates (from 8.25%);
• comfortable conditions for young families and holders of family capital;
• bonus programs for clients who receive wages on a bank card;
• preferential offers for military personnel;
• personal account, where online the user can view information on current payments, balances, schedules, etc.

This year began for this financial institution with major changes. Against the backdrop of a decrease in the national key rate, the DeltaCredit mortgage in 2018 also underwent a number of changes. To date, the bank offers to issue a loan at 8.25% per annum. At a favorable rate, you can get a loan for the construction of a private house, the purchase of an apartment on the secondary market or in a new building, as well as the purchase of a garage, apartment, land, etc.

In this bank, you can conclude an agreement on the refinancing of a mortgage paid on less suitable terms. According to reviews, mortgages in DeltaCredit are most often issued on the security of their own, already existing property.

How the rate is calculated: discounts and surcharges

To get a loan on the most comfortable conditions, the consumer must meet the requirements that the bank puts forward to borrowers. Despite the fact that this financial institution sometimes provides mortgages without a down payment, DeltaCredit Bank prioritizes clients,who are able to immediately pay at least 5% of the loan body. At the same time, the need to make the first payment and its amount is determined by a number of factors:

• type of housing purchased;
• presence of real estate owned by the borrower;
• experience at the last job;
• income for the last six months, etc.

If the borrower plans to make maternity capital funds as a down payment. In this case, the payment should not exceed 15% of the total cost of the loan object. The maximum mortgage term can be up to 25 years.

Under a number of conditions, the amount of the monthly payment may differ significantly from what was originally stated. It is no coincidence that clients of DeltaCredit Bank in their mortgage reviews recommend that you carefully read the text of the agreement. The reason for the increase in commissions and surcharges may be:

• inability to confirm official income, provide a certificate from the employer;
• providing data on earnings in a bank form;
• sole proprietorship;
• borrower refusal from life insurance, he alth.

Many customers in their reviews complain that the profitable low rate on advertising billboards and the official website of the company does not always correspond to the figures of the real contract.

Who can become a borrower?

Mortgage conditions at DeltaCredit cannot be called unhindered, but still this bank is very popular among borrowers due to its loy alty and variety of loan programs. For persons applying forobtaining a mortgage loan, there are a number of general requirements:

• age limits (the borrower must be at least 21 years old and not older than 65 years old);
• the presence of official experience, confirmed by a work book or contract;
• actual solvency;
• citizenship of the Russian Federation.

It is worth noting that the term "age limit" means not only the age at which the borrower has the right to participate in the transaction, but also to complete the payment of the loan. For guarantors and co-borrowers, who are often relatives and close family members of the client, similar requirements are imposed. In order to obtain a more favorable mortgage rate, DeltaCredit allows the applicant to attract no more than three guarantors.

In the predominant number of cases, an initial contribution is required, the amount of which is set depending on the appraised value of the acquired property, the type of financing and the lending scheme used. Under the terms of the bank, any citizen who has expressed a desire to participate in the payment of mortgage payments has the right. Sometimes the bank makes concessions and approves an application for a loan without confirmation of employment, the presence of permanent registration in the region where the property was purchased.

Special offers from the bank

In addition to the general conditions, DeltaCredit offers potential borrowers to participate in promotional programs and take advantage of peculiar benefits. These include:

• The so-called mortgage holidays - the period during which the payment under the contract can be reduced by almost half. According to reviews of DeltaCredit, the bank allows you to pay for a mortgage under this scheme within 1-3 years.
• Applying a loan on the passport of a citizen of the Russian Federation. To consider the application, the client will need to provide a copy of the passport and fill out a special questionnaire. The decision is made within three business days.
• No down payment. Only those borrowers who already own real estate and are ready to provide it as collateral can purchase housing without start-up capital. The annual rate will be determined by the amount of the down payment, and the loan amount cannot exceed 80% of the value of the collateral.

Pros and cons of mortgages from DeltaCredit: people's opinion

Bank customers who have directly encountered the procedure for obtaining a loan for housing, declare both the advantages and disadvantages of applying to this financial institution. Borrowers speak positively about the following points:

• variety of mortgage programs;
• opportunity to take advantage of preferential offers;
• competitive interest rates;
• down payment of 4-15% of the cost of the purchased housing;
• alternative solutions if the borrower does not have funds to pay the entry fee (for example, issuing a consumer loan);
• maximum loan term over 20 years.

To consult questionsloans for a new building or mortgages for secondary housing at DeltaCredit Bank, there is no need to come to the office. On the site you can get acquainted with each available offer, tariffs for it, credit conditions, samples of drawing up an agreement. You can also preliminarily calculate a mortgage in DeltaCredit on the website.

Customers note prompt feedback, well-coordinated work of the support service, as well as the availability of the information provided by it. According to users, it is very convenient to apply for a loan online. Mortgage from "DeltaCredit" is preliminary considered no more than 5-10 minutes. All that is required is to fill out the form on the site and answer the questions of the questionnaire.

Mortgages from DeltaCredit are not suitable for those who do not plan to make a large amount as a first payment. To purchase certain types of real estate, the borrower is required to deposit at least half of its value. The disadvantage of mortgage lending can also be called huge overpayments, typical for other banks, especially if the loan is issued for a long period. You can find a lot of negative reviews on mortgage refinancing. In DeltaCredit, if the borrower refuses life insurance, the rate automatically increases by 2%.

Loans for the purchase of housing in the primary market

To purchase an apartment in a new building, the borrower must pay at least 15% of its value as a down payment. The mortgage program from DeltaCredit provides for the purchase of housing inbuildings already commissioned or under construction.

Apartments in new buildings are usually sold by housing construction cooperatives when the buyer makes an initial payment of 30-40% of the cost. Before selling housing on a mortgage, the developer must confirm accreditation. Developers who are partners of the bank have approval for the sale of mortgage products from DeltaCredit.

If the selected apartment in a new building does not meet bank requirements, the borrower has the right to use another apartment as collateral. She will be under the burden of the bank until the full repayment of the mortgage. DeltaCredit reserves the right to reduce the amount of the initial interest overpayment in the process of paying off the debt, while the rate may also be directly dependent on the amount of the first payment.

Peculiarities of secondary housing lending

This category includes real estate purchased from an individual seller. As a rule, these are private houses, apartments, shares in them. When buying a "secondary" property in "DeltaCredit" on a mortgage, documents are drawn up in parallel with the payment of the first installment. This amount always goes to pay the loan body.

In each region, the size of the loan may be different. You can borrow at least 300 thousand rubles from a bank for the purchase of secondary housing, in Moscow - 600 thousand rubles. Those customers who pay half the amount of the cost when applying can claim the lowest interest ratesecondary housing. A decrease in the mortgage rate at DeltaCredit may be made depending on the status of the client, the level of his education, etc. If the client has a bad credit history or is blacklisted by other banks, he will be denied a loan.

Housing is not accepted as collateral:

• unfurnished (first of all, the presence of a bathroom and a kitchen in the room is taken into account);
• apartment in an apartment building approved by the municipality for major renovation or demolition.

The estimated cost and size of the loan is also affected by the location of mortgaged housing: the more developed the infrastructure in the area and the closer it is to the central part of the city, the higher the price will be. Real estate used to obtain a loan can be:

• residential building;
• townhouse;
• a land plot, as well as buildings present on them.

The main thing is that the potential borrower should have title documents confirming the right of ownership. In the absence of an object that could be provided by the client as collateral, the purchased housing is left under the burden of DeltaCredit Bank. The application for a mortgage must indicate that all of the following requirements are met:

• housing is habitable;
• all communications are connected (heating, sewage, plumbing, electricity);
• the layout is legal and registered with the relevant authorities;
• the walls of the building are made of bricks,concrete panels, stone, and ceilings made of metal or wood.

In this bank, you can mortgage not only an apartment, but also a separate room if it is in a habitable condition and all accompanying documents comply with the letter of the law and the standards of the sanitary and epidemiological station. By the way, DeltaCredit is one of the few financial institutions that provide a loan for the purchase of a share in an apartment.

What are the challenges of refinancing?

Sale of mortgage products for many banks is a primary source of income. Clients, using lending services, are forced to pay interest to financial institutions. Thus, borrowers reward the bank for providing a loan and many years of service. At the same time, in some cases, customers can count on mortgage refinancing.

"DeltaCredit" offers borrowers to conclude new contracts on more convenient terms. Refinancing helps not only to attract customers to the bank, but also to make housing loans more affordable. This service involves a special procedure for reissuing a mortgage, during which one obligation is replaced by another. Thanks to refinancing, clients have the opportunity to close the debt on an existing loan with new credit funds issued on more favorable terms.

When deciding on re-lending, the client must take into account all the nuances and understand how expedient it is to conclude a new contract."DeltaCredit", approving the application for refinancing the existing debt, agrees to serve the client and carry out early repayment of his debt to another financial institution. Based on the agreement, as a rule, a more loyal interest rate is set.

To document the contract, the client must provide documents confirming the ownership of the mortgaged property. The bank considers the application for refinancing individually, the decision depends on a number of factors:

• purity of the client's credit history;
• assessment of the loaned object;
• borrower's income;
• debt amount.

Under the new agreement, DeltaCredit can extend the term to 25 years at a rate of 8.25%. The client must take into account that the re-registration process undergoes a number of checks in order to confirm the accuracy of the information provided by the borrower, the authenticity of documents. The right to encumbrance home ownership is removed from the former banking institution that financed the mortgage and transferred to DeltaCredit.

What is needed for refinancing

First of all, the borrower must provide:

• passport;
• SNILS;
• original and copy of the mortgage loan agreement;
• statement of no debt to the previous creditor bank;
• certificate of registration of ownership or extract from USRN;
• photocopy of employment record or contract;
• 2-personal income tax certificate.

A client who needs a new loan to pay off an old debt must fill out an application form. The borrower will have to go through all the verification and registration procedures that he went through when applying for a mortgage. The bank consultant will prepare a list of documents to be prepared by the applicant. After the client collects the necessary package of papers and transfers it to DeltaCredit, within 5 days a decision will be made to approve or refuse to issue a loan for the following reasons:

• applicant's insufficient income;
• unfair repayment of previous loans (delays);
• illegal real estate redevelopment;
• falling property prices in the region;
• use of maternity capital funds.

DeltaCredit, like any other bank, will not want to contribute to the loss of its own profits. If the client fails to prove his solvency in full or may disrupt the debt repayment schedule, the bank will not approve the application. The main disadvantage of refinancing is that a decrease in the amount of the monthly payment automatically entails an increase in the term of the loan. On the other hand, in difficult situations, such a decision may be the only correct one, despite significant overpayments.

Early mortgage repayment

"DeltaCredit" does not set any restrictions for clients wishing to prematurely repay the debt. Having issued a housing loan and signed all the papers, the borrower will receive a payment schedule, which, according to the agreement, he will be obliged toobserve. "DeltaCredit" uses only an annuity scheme, which involves making monthly payments of the same size. At the same time, at first, in the ratio of interest and the body of the loan, the predominant part will be interest.

At any time, the client has the right to fully or partially repay the debt to the creditor. To do this, the borrower must write an application for this operation in a timely manner (at least one day before the planned payment).

To immediately close the loan, the client must deposit the entire missing amount to the bank account. After submitting the application, the manager will recalculate the debt and indicate its exact amount. On the appointed day, the amount is debited from the borrower's account. If the client wishes to only partially repay the mortgage, that is, to make an amount greater than the monthly payment, the bank will also not interfere. Under the terms of the agreement, it is allowed to repeatedly apply to the bank with a request to credit the amount indicated in the application to the debt. After the money arrives, the bank employee will create an updated payment schedule, which can either reduce the mortgage term or the amount of the regular payment.

If you are applying to a financial institution for the first time, fulfilling your contractual obligations must be approached with all seriousness, which means that before signing an agreement, you need to study in detail the full calculation of payments, loan conditions and the size of commissions. It will not be superfluous to carefully read the text of the agreement writtensmall print.

Can there be a refusal, for what reasons?

"DeltaCredit" reserves the right to reject the application and not give the client any explanations about the decision. To minimize the likelihood of rejection, the borrower needs to know in advance about its main reasons:

• low income,
• unstable profit (applies to sole proprietors);
• damaged credit history;
• presence of outstanding loans;
• debt on housing and communal services;
• Unexpunged conviction.

When calculating the parameters of the loan, the bank sets the optimal size of the regular payment. If its size exceeds 40% of the borrower's monthly income, the bank will most likely refuse due to the high probability of loan default. Usually, in order to increase the chances of mortgage approval, the application is submitted together with co-borrowers.

Delays on past loans also significantly aggravate the situation of the applicant. If the debt is outstanding, the client will be subject to an additional credit burden, which will have a depressing effect on his solvency.

Today, DeltaCredit is the only bank in Russia that specializes exclusively in the implementation of mortgage lending programs. Its conditions will be favorable for those who are able to objectively assess their capabilities.