Mortgage without income certificate: procedure and conditions for obtaining

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

Certificate of income - the main document that is needed to apply for a mortgage loan. This is a confirmation of the client's solvency, on the basis of which the bank decides on the issuance of a housing loan and its amount. Is it possible to get a loan to buy a home with a minimum number of documents and what conditions do banks provide?

Is it possible to get a mortgage without proof of income

One of the main requirements of banks for customers is the availability of a sufficient amount of permanent income to make monthly payments. To confirm the financial situation, you need to provide a 2-NDFL certificate for the last 6 months.

However, today's realities are such that a certain part of citizens either work unofficially, or part of their salary is not reflected in the documents. There is no way to provide an income certificate, but this does not mean that they will be denied a mortgage. If a few years ago, potential borrowers had to confirm the salary without fail, now many banks have simplified the registration procedure. A mortgage without a certificate of income is possible, but the conditions for it are much tougher than for standard ones.programs.

Rate, fee and term

The conditions of banks that give mortgages without income certificates have their own characteristics. The most important thing is the increased interest rate. The percentage is on average 1-2 points higher than for classic mortgage programs.

The money back period is short. Typically, repaying a mortgage without a certificate of income lasts no more than 20 years. The first installment is more than under the terms of standard programs. You must have at least 50% of the cost of the purchased housing. The presence of these funds is a guarantee for the bank of high solvency of the client.

Design nuances

Mortgage without proof of income has several features:

• The choice of programs is limited, since not every bank is ready to provide a loan to citizens without official employment, even against the security of the acquired object.
• Most banks issue mortgages without proof of income only to participants in their salary project. If your monthly salary is not transferred to the bank card, then it will be more difficult to get a positive decision.
• Small selection of real estate options. Most often, banks offer mortgages in new buildings from their developer partners.
• If a client applies to a bank on whose card he receives a salary, then the conditions for him will be less severe, since information on solvency is already available in the database of a financial institution.

Despite all the nuances, such a program gives a chance to acquire their own housing for those who do not have the opportunityprovide an official document.

What should I do?

How to get a mortgage without proof of income? You need to start by looking for a bank. Customer reviews and recommendations from friends will help you decide where to get a mortgage. After choosing an institution, you need to start collecting documents. All you need is an application form and a passport. Some banks require an additional identity document. As it can be:

• passport;
• driving license;
• insurance certificate;
• employee ID.

Additionally, a spouse's passport is required (if the client is married), as many banks register the applicant's husband or wife as a co-borrower.

How to get a mortgage without proof of income? You need to apply and wait for a decision. The questionnaire is filled out at a bank branch. Despite the absence of official employment, it is necessary to fill in data on the amount of monthly income. The figure must be real, as the bank will carefully check the sources of income. You will also need to provide information about the job: address, name of organization, position, phone number of the employer. On average, applications are processed within 7-10 days.

What to do after approval

Next, the client is given 3 months to search for suitable real estate, after which he must provide documents for the selected housing: a document confirming the basis for the emergence of property rights; extract from the USRN;assessment report; extract from the house book; technical documentation for the object (cadastral extract, registration certificate).

If a mortgage without a certificate of income is issued for housing under construction, then title papers from the developer, a document for land, an extract from the cadastral register for land, a building permit, a project plan, an agreement for participation in shared construction will be required.

After the approval of the property by the bank, a mortgage agreement and a sale and purchase agreement are concluded. The transaction is registered in Rosreestr. The purchased apartment is issued as a pledge to the bank.

Rosselkhozbank

As part of the program, it is possible to receive funds for finished real estate, a residential building with a plot, as well as a new building from bank partners. Conditions:

• maximum loan - up to 8 million rubles;
• term - up to 25 years;
• down payment - from 50% if a house with a land plot is purchased;
• first installment - from 40% when buying a home on the secondary market or in a new building.

Interest rates depend on the status of the client and the type of property. The mortgage rate for an apartment without a certificate of income in the secondary market is set from 9.45% for salary and trustworthy bank customers. For state employees - 9.5%, for other clients - 9.6%.

For housing under construction, the rate for payroll customers is 9.35, for state employees - 9.4%, for the rest - 9.5%. Mortgage interest rate for the purchase of a house with a plot for salary clients - from 11.95%, foremployees of budgetary organizations - from 12%, for other persons - 12.5%.

The rate increases by 1 point if the borrower refuses to insure life and he alth. Requirements for loan applicants are standard: citizenship of the Russian Federation, age from 21 to 65.

VTB 24

Terms of registration:

• down payment - from 30%;
• term - up to 20 years;
• amount - from 600 thousand to 30 million rubles;
• rate - from 10.7%.

It should be noted that the stated rate is valid only if the client is ready to take out an insurance policy, which includes insurance for the apartment, title and the borrower himself. Requirements for the recipient of the loan: age from 21 to 65 years, a sufficient level of income for a monthly deposit of funds. The presence of a permanent residence permit in the region in which the client applies for a mortgage is not required. The loan is issued according to the passport and insurance certificate.

Sberbank

Mortgage without proof of income in this bank operates under the program for the acquisition of finished and under construction housing. Conditions:

• amount - from 300 thousand to 8 million rubles;
• down payment - from 50%;
• it is possible to receive funds secured by existing real estate;
• term - up to 30 years.

Rate on secondary market housing - from 8.6% (for young families), from 9.1 - for other clients. For housing under construction - 7.4% (under the preferential program), from 9.4% - on basic terms.

For debit customers, there are improved conditions (the rate is calculated individually) and a simplified application procedure. The request is considered only on the passport. Persons who are not bank customers will additionally need another document identifying their identity.

Sovcombank

Loan terms:

• rate - from 11.4%;
• term - up to 20 years;
• fee - from 20%;
• amount - up to 30 million rubles.

A feature of lending at Sovcombank is the opportunity to take out a mortgage for pensioners. The maximum age of the recipient of funds should not exceed 85 years.

Uralsib

As part of the program, it is possible to purchase housing under construction. What the bank offers:

• bet from 9.4%;
• term - up to 30 years;
• amount - from 300 thousand to 50 million rubles.

The amount of the down payment depends on the status of the client. For payroll clients, at least 20% of the estimated value of the object is required. Those who apply to the bank for the first time must have at least 40% for the first installment.

Transcapitalbank

It is possible to receive funds for a secondary market apartment and housing in a new building on the following conditions:

• down payment - from 30%;
• amount - up to 12 million rubles;
• rate from 7.7% for up to 25 years.

For the bank to accept the request for consideration, it is enough to provide a questionnaire and a passport.

Promsvyazbank

A feature of lending under the Promsvyazbank program is lessharsh requirements for customers. If most banks do not lend without confirming the income of business owners, then this institution willingly cooperates with individual entrepreneurs.

Rate on new buildings:

• from 9.4% when buying housing under construction from the bank's developer partners;
• from 10.8% for payroll customers when purchasing an apartment in new buildings from other developers (10.9% for non-clients of Promsvyazbank).

Rate for secondary market apartments:

• from 11.2% for payroll clients;
• from 11, 3 - for the rest.

Declared interest is applied only if the borrower is ready to issue a comprehensive insurance contract. The contribution is at least 40%. Money can be received both on the security of the acquired property, and on the existing apartment.

Where to get a mortgage

When looking for a bank and a program, you need to proceed from your own initial data: how much is the down payment and how much are you willing to pay monthly to pay off the loan. If you are a debit client of a certain bank, then it is better to contact him first. Banks are more loyal to their regular customers: the rate for them is 0.5-1% lower than for other individuals. What to look for when choosing a credit institution:

• Does the program involve co-borrowers. An additional borrower (spouse or relative) can increase your chances of getting a mortgage, as well as allow you to take the maximum possibleamount, since the income of both borrowers will be taken into account when calculating the loan.
• What is the amount of the down payment. Most banks require a deposit of at least 40-50% of the property value. If this amount is too large for you, then you should pay attention to programs with a lower contribution. However, keep in mind that the larger the amount you are willing to contribute to purchase an apartment, the higher the chances of approval of the application and the better the repayment terms.
• Cost of insurance. When applying for a mortgage without income statements and guarantors, the borrower is obliged to insure the purchased housing. Additionally, he can take out life and he alth insurance. Most often, insurance is already included in the terms of the contract, and its amount is distributed over the entire repayment period. Insurance can significantly increase the amount of an overpayment, so it is important to find out in advance about the cost of this service and choose the bank that offers it at the lowest rates.

A loan without proof of income is the best option for those who are in a hurry to buy real estate or are not able to provide a salary certificate to the bank. It should be noted that it is much more difficult to get a mortgage in Moscow without a certificate of income than under standard programs. A good credit history and the availability of documents that can indirectly confirm unofficial income will be a plus.