2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Every modern man dreams of his own home. Of course, not everyone can earn money for an apartment or at least a room. In this case, it is much more profitable and convenient to apply for a mortgage. Today, Moscow is popular, as in the capital there are much more opportunities to realize oneself, and, accordingly, to receive the necessary funds to pay off the debt taken from the bank. But some are faced with the fact that they do not know how to get a mortgage in Moscow. Let's take a closer look at this issue.
Which bank to choose
Of course, first of all, everyone immediately thinks about Sberbank. Indeed, this financial institution is considered the most reliable and stable in the Russian Federation. This bank has a huge number of different promotions and bonus programs for the population. Therefore, it is worth contacting here for those who are thinking about how to get a social mortgage for a person on the waiting list in Moscow or are looking for options for obtaining a loan without a down payment.
However, there are a huge number of other large banks in the country that can also help in purchasing their own housing. When choosing a mortgageFirst of all, you should pay attention to the following nuances:
- Commission for issuing a loan. As a rule, it is about 1.5% of the total loan amount.
- Insurance. In almost all banks, it is mandatory to arrange loan insurance. As a rule, in this case, you can get a lower interest rate on overpayment. On average, insurance costs 0.8-2.0%.
- Term of the mortgage. Different banks provide different conditions, so in this case, you need to rely on your own strength.
How to get a social mortgage in Moscow
In order to significantly reduce the interest rate on overpayment, it is worth paying attention to the programs that are in effect today in almost all major banks. However, not all of them are really available. For example, if we are talking about a young family, then in this case you can get a mortgage in Moscow without a down payment.
This program is commonly referred to as Affordable Housing for Young Families. However, the phrase “no down payment” should not be taken literally. In this case, we are talking about maternity capital, which is just the same as a down payment. Thus, the first stage of depositing funds is carried out at the expense of the state, which allocated money for the birth of a child.
Why secondary market apartments are not very popular
Of course, this option is quite interesting, since in this case the cost of an apartment or a roommuch lower. However, in this case, big problems may arise due to the non-compliance of these objects with the requirements of the selected bank.
Very often, financial institutions refuse mortgages on secondary market apartments due to several problems. Most often this happens when it comes to a room or shared ownership. In this case, the bank does not want to get a lot of problems in the future when one of the owners of the property decides to sell it.
Also quite often, customers who have opted for too old and dilapidated houses that require major repairs receive a refusal. Therefore, when deciding how to get an apartment in a mortgage in Moscow, you should pay attention to this.
Also, the bank is highly suspicious of too frequent changes in ownership of housing. If the apartment is owned by a relative of the borrower, then in this case a bank employee may also suspect fraud. And if one of the owners of the living space is a minor child, a disabled person or a person in prison, then you will not be able to get a mortgage.
How to get a mortgage in Moscow: requirements
First of all, you should give preference to apartments that are equipped with a separate entrance, bathroom, kitchen and all necessary communications (water, heating, electricity or gas). The bank will definitely check the availability of the selected housing in the registers of houses subject to demolition or global reconstruction. It will not be superfluous to checkselected object. If its wear is more than 50%, then in this case it is worth choosing another housing.
You need to understand that the living space must be in good condition throughout the loan term.
Also, speaking about how to get a mortgage in Moscow, it is worth considering one useful tip. To get a guaranteed loan, you need to check the documents from the BTI. The selected housing must fully comply with them. If illegal redevelopment was carried out in it, then everything must be returned to its original state as soon as possible. Otherwise, the bank will refuse.
What problems may arise for out-of-town and foreign citizens
As a rule, for visitors it is very often assumed that the initial amount of the loan installment is too high, which sometimes ranges from 15 to 20% of the total cost of the object. In addition, most people living outside of Moscow find it very difficult for them to obtain documents from the BTI and other authorities.
It should be borne in mind that most banks prefer to lend only to those customers who are registered and actually located in the same city as the branch of the financial institution.
At the same time, foreign citizens can get mortgages in Moscow. But for this, the borrower must be registered as a tax resident of the Russian Federation.
If the borrower has already taken out loans some time ago, but has not repaid themon time, in which case he will not receive a new loan. In addition, it must be borne in mind that for the successful registration of this lending, it is necessary to work officially. If the client works under a temporary contract or is a freelancer, then in this case he is considered unemployed.
How to get a mortgage for a nonresident citizen
In this case, experts recommend indicating additional sources of permanent income. For example, if the client has the opportunity to receive rent, alimony or rent from third parties. At the same time, you need to be prepared for the fact that in order to confirm the information, it will be necessary to provide an official lease agreement. In addition, it is worth paying attention that most often banks issue loans to those citizens who have lived in the capital for at least 6 months. Therefore, when talking about how to get a mortgage in Moscow for non-residents, you should think about waiting six months and only then apply for funds. To confirm your place of residence, it is enough to provide receipts for housing and communal services.
What documents are needed to apply for a mortgage for nonresidents
The list of required documents may vary depending on the specific banking organization and credit conditions. However, as a rule, the standard package includes an identity card, a certificate confirming the client's solvency (in the form of 2-NDFL), a work book, a certificate of marriage and birth of children.
It is also recommended to confirmadditional income and possession of other property and other things that may be included as collateral. If the documents are in order and the bank is ready to provide the requested amount of money, then in this case the borrower will have 3 months to find suitable housing that will meet all the requirements of the organization's finances.
Conclusion
Knowing all the subtleties of how to get a mortgage in Moscow, you can develop a strategy for obtaining a loan. First of all, it is worth considering your plans for the future, for example, the birth of children or the possibility of living in the capital for more than six months. And you also need to be careful when choosing an apartment, as this is a fundamental point that they pay attention to when issuing a loan. With these recommendations in mind, applying for a loan is more likely to be successful and profitable.
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