2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Today, credit products play an important role in the lives of almost all citizens. At the same time, mortgages take the first place, since thanks to such a program, those families who have long dreamed of it can purchase their own housing.
The conditions for purchasing real estate on credit are individual for each bank, as well as the requirements for the borrower. Therefore, below we will consider one of the most famous financial structures that helps to make the dream of many married couples a reality, namely the Bank of Moscow. What does this financial structure offer and why do most people prefer this particular bank. So, what is a mortgage in the "Bank of Moscow"? Consider further.
What are the loan products for the purchase of housing in the "Bank of Moscow"?
Of course, the strongest side of this banking institution is the huge selection of various lending programs. Absolutely every client will be able to choosethe best lending option in this financial structure.
Mortgage in the "Bank of Moscow" is:
- opportunity to purchase any type of real estate on credit;
- the ability to get a mortgage with the support of the state program;
- optimal attractive lending conditions.
If a family plans to purchase housing on credit, then the "Bank of Moscow" is worth visiting and familiarizing yourself with its conditions in detail.
Conditions for obtaining a mortgage at the Bank of Moscow
How much is a mortgage in the "Bank of Moscow"? First of all, if we talk about the conditions, then almost every person is interested in two questions - this is the interest rate and the down payment. To date, the "Bank of Moscow" offers the following conditions for obtaining a mortgage:
If the family is a member of the state support program, then the interest rate will be 11.75%. If potential borrowers are not participants in this program, then the interest rate for them will be set at 12%. As for the first installment, it must be at least 15% if maternity capital is taken into account. Well, if the family plans to take advantage of the classic mortgage terms, then they will have to pay 20% of the total amount. It should be noted that the "Bank of Moscow" offers mortgage products for a period of 5 to 30 years. That's how convenient a mortgage is at the Bank of Moscow.
A calculator for calculating payments is available on the site. This tool is easy touse and very convenient.
It is also important that the exact amount of the down payment will be calculated from the smallest amount. And in this case, it does not matter whether the market value of housing is or negotiable.
According to the established rules for obtaining a mortgage, it is necessary to provide the financial structure not only with the contractual cost of housing, but also with the estimated cost of the acquired area.
What requirements does the bank put forward for a potential borrower?
This financial institution only considers an application for a mortgage from citizens if they meet the following requirements of this financial institution, namely:
- Mortgage in the Bank of Moscow is issued not only for citizens of the Russian Federation. In other words, a person may be a citizen of another country, and this fact will not serve as a reason for refusing to receive a mortgage.
- The minimum age for a loan is 21 and the maximum age is 60. The main condition is that at the time the payment ends, the person must be no more than 75 years old.
- The organization in which labor activity is carried out must be located on the territory of the Russian Federation.
"VTB Bank of Moscow" puts forward its requirements for seniority.
- Work experience must be at least 1 month at the current place of work after passing the probationary period. As for the total length of service, it must be at least 1 year.
- If the mortgage is issued by a man younger than27 years old, then he must provide the financial institution with an additional document confirming his service in the army, or a certificate stating that he is not subject to conscription.
- This financial institution offers another great advantage - mortgage registration at the place of actual residence and at the place of work. This is very important if the person is registered in another country.
Package of documents required for mortgage registration
When a person makes the final decision to apply for a mortgage, they will need to attach the following documents along with the application for a mortgage product.
Passport of a citizen of the Russian Federation. If a person of foreign origin draws up a mortgage, then a visa and a document confirming the legal stay on the territory of the Russian Federation are provided
The following document is available to choose from, it can be a copy of a driver's license, a military ID or identity card, or a sailor's passport. Persons of foreign origin provide a copy of their driver's license or proof of being a sailor
Copy of work book with obligatory stamp on each completed page. This seal must belong to the company where the worker who applied for the mortgage is employed. But a mortgage is possible under two documents
Certificate of income from employment
Important: if the potential borrower is married, then the secondhalf also provide a statement of income and a statement that he acts as a guarantor for this loan.
If the borrower provides additional documents, this may increase the chance of obtaining a mortgage.
Additional documents
VTB Bank of Moscow is considering the following additional documents.
List of additional documents:
- diploma of education;
- document of assets, if any;
- marriage certificate if the person is officially in a relationship.
As a rule, if you have all the above certificates, there will be no problems with obtaining a mortgage. But one should also take into account the fact that if a person had a bad credit history in the past, then the chances of obtaining a mortgage will be scanty.
Special program "Simple Mortgage" without proof of income
Now let's figure out what a mortgage on two documents means.
This financial institution offers another profitable mortgage program with just two documents. This method of obtaining a loan product is an excellent solution for those people who, by the nature of their activities, do not have free time to collect all the required documents. It is worth noting that registration under this program provides for an initial payment of 40% of the total cost of the purchased housing.
This type of lending is called "Simple mortgage in the Bank of Moscow". Conditions considerbelow.
Loan terms
If a client wants to use the Simple Mortgage program, he will not be able to use maternity capital to make a down payment. It will also not be possible to repay the loan taken with a cash subsidy.
To get a "Simple Mortgage" a person must be between 25 and 30 years old. At the end of the loan agreement, the age of a person cannot exceed 65 years.
When applying for such a loan, a person provides a financial institution with his passport, certificate of pension insurance, or any other document that can confirm his identity. As a rule, an application from a potential borrower is considered by the bank's specialists within 24 hours.
If a person decides to use this program, then the interest on the loan will be higher by 0.5%.
Mortgage in the "Bank of Moscow" for payroll clients
Persons who receive wages on the Bank of Moscow card can take advantage of obtaining a mortgage in this financial structure with great benefits. Salary customers can use loan products from this bank with significantly reduced interest rates.
Moreover, many developers, together with the bank, hold promotions for such clients, for which you can initially purchase housing at a significant discount.
In order to find out which residential complexes from developers give a discount, you should contact one of the branches of this financial structure for detailedinformation.
This is what a mortgage at the Bank of Moscow means.
Reviews
Today, numerous reviews of this financial institution only say that this bank really provides the most favorable lending conditions. In general, the chance of getting a positive decision on a loan application is quite high.
The main plus of this institution is the opportunity to purchase a home of your dreams for every person, regardless of his citizenship. Moreover, young families can also take advantage of the favorable offers from this institution.
But at the same time, there are several disadvantages of this institution. First of all, this concerns not always competent bank employees. Moreover, at the moment there are cases when the interest rate was overestimated compared to the originally announced. Therefore, each client who decides to use the services of this financial structure must study in detail all the conditions for providing such a loan product.
In conclusion, the "Simple Mortgage" without proof of income is a program that many clients have taken advantage of, and most of them were satisfied with it.
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