Which bank is better to take a mortgage: reviews

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

The question of which bank is better to take a mortgage is asked by almost every person who has decided to buy a home. And the point is not even the lack of funds, but the impossibility of accumulation. Due to the unstable financial situation in our country, the amount that real estate will cost now, in ten years is unlikely to be enough for half an apartment.

Which bank is better to take a mortgage? Understanding.

Bank selection

Each person, before taking a mortgage, calculates the annual interest to which he is ready to agree. In mortgage lending, this is a decisive argument for any bank. However, not the only one. There are still many aspects that the average borrower should pay attention to.

Do not forget about the down payment, which is required by any banking organization, where there is a mortgage lending service. Most banks raise the down payment threshold to thirty percent of the cost of housing and above. itmeans that the borrower will look for more profitable options if he does not have such an amount. But there is also good news. It lies in the fact that there are banking organizations that agree to ten or twenty percent of the down payment, or those for which it is completely unprincipled. You can consider options to replace the down payment.

So there are a lot of things to consider before deciding which bank to get a mortgage from.

Insurance

Insurance conditions play a significant role in shaping the cost of a mortgage loan. Any banking organization requires the borrower to obtain insurance for real estate, which is involved in the pledge. The bank is not en titled to demand he alth and disability insurance of the borrower, but the availability of such insurance may favorably affect the final size of the mortgage loan. Still, insurance is a good thing, and it should be issued not only for banks. When choosing which bank to get a mortgage from, you need to remember that some lenders will not approve a mortgage loan without title insurance, which protects against the risks of losing ownership of the home.

Mortgage in "Tinkoff Bank"

First of all, you need to carefully study the information about any institution, if the question arises of which bank is better to take a mortgage. Reviews about this bank are mostly positive. Tinkoff provides an exclusive real estate selection system and mortgage loan processing. It is enough to submit an application to the bank, and its employees will send it to other creditorganizations with which Tinkoff cooperates. With this method of work, the interest rate is reduced by a percentage. And if the borrower applied directly, the commission would not decrease. Tinkoff Bank's partners are more than ten organizations, including Vostochny Bank, Gazprombank, URALSIB Bank, and the state agency AHML. Consider the terms of a mortgage loan:

• interest rate is considered from eight percent per year, for some primary housing - from six;
• maximum mortgage loan amount is one hundred million rubles;
• credit is issued for no more than thirty years.

To send a request to the bank, you must complete an online application. A questionnaire is filled out on the website of a banking organization. Two hours after leaving the application, the borrower will already be able to receive a response. The amount of the down payment starts from ten percent, but it depends on the bank partner. Also on the site you can read about which bank is better to take a mortgage. Reviews and information about partner banks are freely available.

Mortgage loan at Sberbank

This bank is the largest and most famous in Russia. Any of his proposals is widely discussed and of interest to everyone. This applies primarily to mortgage lending. When asked which bank is better to take a military mortgage, family or state-supported, almost everyone will name Sberbank. If the borrower insures life and work capacity, then the bankcan lower the rate by one percent. Participation in the state program "Young Family" will help reduce the commission by another 0.5%. And the electronic registration of the transaction will reduce this figure by another 0.1%.

Basic conditions for mortgage lending at Sberbank:

• annual commission starts from 7.4% and depends on the chosen mortgage program;
• minimum loan amount is three hundred thousand;
• the maximum term for which a loan is issued is thirty years.

The amount of the initial payment depends on the mortgage lending program, but cannot be less than fifteen percent. Loans are issued both for the purchase of housing in a new building, and in the secondary market, or for the construction of a private house. A banking organization can apply for a mortgage without confirming the borrower's income and with only two documents. Now, to the question of which bank is better to take a military mortgage or any other, we can say with confidence that in Sberbank.

Offer from RaiffeisenBank

Which bank is profitable to take a mortgage, and where is the interest rate fixed? Of course, in this. The bank goes forward and does not have a "floating" interest rate, but its requirements for borrowers are tougher. The main one is comprehensive mortgage insurance. If the borrower refuses insurance, the bank raises the interest rate to 3.5% per year. The increase depends on how old the borrower is and whether he has co-borrowers.

Conditions for a mortgage loan at RaiffeisenBank:

• annual commission can reach 10.25%;
• maximum loan amount - no more than eighty percent of the price of housing;
• borrower can count on a mortgage in thirty years.

The Bank allows the purchase of housing both on the secondary market and in new homes. As a pledge, you can leave either an existing living space or a purchased one.

Bank "Vozrozhdeniye"

This bank made the list thanks to a down payment of only ten percent. While the housing is being built, the interest rate is close to thirteen percent, and after the registration of the apartment as a property, it drops to 12.75%. As is clear from the conditions, the bank works only with primary housing.

Bank of Moscow

It is profitable to take a mortgage at the Bank of Moscow, if only because there is a base interest rate that rises or falls for any reason. For example, it will affect its reduction in the area of purchased housing or the status of the client.

A banking organization issues loans under the following conditions:

• annual commission starts at 9.5%;
• there is no maximum or minimum amount;
• The longest loan term is thirty years.

To apply for a mortgage in this bank, only two documents are enough. But this does not mean that the conditions in the presence of a minimum package of securities will remain the same. In this case, the down payment becomes larger, and some lending conditions worsen. Elementarythe fee starts from ten percent and can increase.

The borrower must correctly assess which bank can take a mortgage, and what conditions exist for this type of loan.

Mortgage in Alfa Bank

The most profitable way to take out a mortgage is for those people who receive their salaries through Alfa-Bank. But this does not mean that any other borrower cannot apply there. In which bank to take a mortgage with a base interest rate, if not in Alfa-Bank? Among the advantages of mortgage lending, it is worth highlighting the fact that a decrease or increase in the interest rate depends on the choice of additional options.

Mortgage terms:

• annual fee is 12.5%;
• the bank is ready to provide a mortgage in the amount of up to fifty million;
• The longest loan term is limited to thirty years.

The initial payment should not be less than fifteen percent of the deposit amount. If the borrower refuses to insure life, disability and he alth, the banking organization increases the percentage for services by 2%.

Khanty-Mansiysk Bank

This bank provides a mortgage loan at 14% for ten years of construction. After the borrower registers the housing as a property, the commission will decrease by 0.5% annually. As far as it is clear from the conditions, the bank works only with housing under construction.

Mortgage at VTB 24

A banking organization has a mortgage program "New building". Its difference fromthe rest is that the rate of interest depends on the amount of the mortgage. So, with a loan of less than 5.5 million rubles, the annual commission will be 12.95%. And when applying for a mortgage from 2.5 to 5.5 million, the rate will increase to 13.35%. The advantage of a mortgage in this bank is that, unlike other organizations, this mortgage payment period can be up to fifty years.

General requirements of banks

In which bank is it better to take a mortgage for a pensioner, a working person or an unemployed person - everyone determines for himself. But there are criteria that are mandatory for applying for a loan in any banking organization.

Let's take a closer look at them.

1. The borrower must be at least 21 years of age and over 65 years of age (this is the figure at the time of payment of the last installment).
2. The borrower must be a citizen of the Russian Federation.
3. The borrower must have registration (whether permanent or temporary). Rarely registration is required in the region where the bank is located.
4. The borrower must have a job with official employment and continuous work experience for six months. The total work experience must not be less than twelve months.

An application for a mortgage loan can be submitted both in person, by coming to the bank, and on the official website. If the application is pre-approved, then the borrower can start looking for housing. The search is allocated from sixty to ninety days. When an apartment or house is found, the documents are submitted to the bank, where lawyers begin to check the cleanliness of the purchased housing. If the experts approved the choice, thenthe next stage begins - an independent assessment of housing in the secondary market. When all points are agreed upon, the contract is signed, and the transaction enters into force. The money is transferred to the borrower, after which the purchase and sale transaction is completed.

Package of documents

It doesn't matter where it is better to get a mortgage - no matter what bank the borrower ends up with, everywhere they will require a certain package of documents from him. These include the following.

1. Personal passport of the borrower (document of the Russian Federation) with photocopies of every page, even blank ones.
2. Copies of pages of work books, where there are records of places of work. Everything must be confirmed by the employer.
3. Certificate of the borrower's income that complies with bank regulations, or 2-personal income tax, or a tax return.
4. Certificate of pension SNILS insurance.
5. Additional documents at the request of a banking organization.

Lightweight mortgage programs

For young families, the question of which bank is better to take a mortgage is very acute. Voronezh is not distinguished by any special mortgage offers, like most provincial cities. At present, many local banks, for example, have developed mortgage programs with the participation of maternity capital. But since it is paid only after registering the ownership of a house or apartment, not every bank will agree to work with it.

In addition to loans based on maternity capital, there are other programs for young families. For example, to the question aboutin which bank is it better to take a mortgage in St. Petersburg for a family, you can confidently answer that in Sberbank. This is because he is the first to start working with state programs. Programs from the state allow you to purchase housing even with little work experience or a small salary.

Also, under such programs, young professionals return to the villages, because housing is cheaper there, and credit conditions are more favorable.

Choose a bank depending on the purpose

Which bank is better to take a mortgage in 2018 depends largely on what kind of housing the borrower wants to get. So, if this is an apartment in a house under construction or a new building, then you can try to get a mortgage loan with state support.

At the same time, a low interest rate will be provided by:

• "Absolut bank";
• Globex Bank;
• VTB 24;
• "LOKO-bank";
• "Moscow Industrial Bank";
• Sberbank.

In the Moscow and Leningrad regions, you can get a mortgage loan in the amount of up to eight million rubles with state support. But you need to remember that the initial payment cannot be less than 20%. But the rate starts from 7.5% and goes up to 11%.

Which bank to get a mortgage? Reviews mostly differ when it comes to second homes. The fact is that the purchase of housing from the secondary market is not supported by the state in any way, so there are no special programs. In order to somehow increase the benefits of obtaining a mortgage, borrowers are offered to regularly monitor seasonal bankingoffers.

With an annual commission of 10-12.5% and an initial payment of no more than ten percent of the amount work:

• Rosenergobank;
• bank "Intercommerce";
• "IntechBank";
• "Primsotsbank";
• bank "Informprogress".

Those borrowers who belong to social categories can use social mortgage lending.

These are categories like:

• young family;
• large family;
• pensioners;
• military veterans;
• military personnel;
• state employees;
• those people who live in emergency houses.

The service of social mortgage lending is provided by:

• "Prisco Capital Bank";
• "Rosbank";
• "ITB bank";
• AHML;
• "Russian Mortgage Bank".

Those military personnel who participated in the NIS (accumulative mortgage system) are en titled to a mortgage loan at twelve percent per year.

Military mortgages are available at Sberbank, VTB 24, Garzprombank and Zenit Bank.

Mortgage loans at a low annual percentage are also ready to be provided by MCB, Rosselkhozbank, VTB 24, Bank of Moscow and Sberbank.

Mortgage and collateral

An excellent option would be to buy a home with a mortgage secured by an existing one. In this case, banks are happy to approve the application, but we are only talking about80% of the cost of housing. That is, if the apartment costs twenty million, then the borrower can only count on sixteen.

There is also the option of buying a home without a mortgage, but with two loans. To do this, take half the amount in one bank, and the second part - in another. The downside is that each banking organization will need to reduce their risks, and she will ask to leave something as collateral.

Mortgage or personal loan?

Of course, every borrower understands that it is best to apply for a mortgage in banks with a good reputation and experience. But you can do without it by issuing a regular consumer loan. It does not require a deposit to be issued. Banking organizations usually limit the amount of such loans to half a million rubles. Yes, it is a small amount to buy an apartment in the city, but in order to buy a house in the countryside, the money will be enough.

Pros of a mortgage

Each loan has its pros and cons. Pluses can be considered that:

• an apartment or house becomes the property of the borrower, and he can register anyone there at will;
• since 2016, mortgages can be paid off ahead of schedule, and there will be no fines or additional interest;
• monthly payment is equal to what the borrower would give for renting an apartment, but he already pays for his own housing;
• there are social projects and programs that make it easier to get a mortgage and reduce payments on it.

Of course, before taking out a mortgage, you need to think carefully, but you shouldn'tcompletely discount this kind of loan. After all, this is a great way out for those who want to have their own housing, but do not have sufficient funds. Moreover, our state supports people who decide to get a mortgage.