2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Many people nowadays are interested in the conditions of mortgage lending. Housing is necessary for everyone, but not everyone can immediately acquire it. Due to the lack of the required amount of money and the high cost of the desired "square meters". Well, many resort to mortgages, but you can tell about the conditions under which it is issued in more detail.
General information
To begin with, it is worth noting how this type of loan differs from a regular loan. The first point is the timing. Mortgages are issued for 5-50 years. But most often it is taken at 15-25 (on average). Which is also a lot. Mortgages are issued only for housing needs. That is, for the purchase of a house, apartment or construction work. And the third nuance lies in the pledge. In his role is the acquired property. The bank must have something that it can sell and bail out if the client cannotpay off debts.
This is the general terms and conditions of mortgage lending. If you believe the statistics, then it is for him that the percentage overpayments are the highest. But they are not very noticeable, since a person gives them away for a long time period. In addition, some simply have no other choice. However, it is much easier to understand this topic with a visual example.
Sberbank services
In this financial institution, loans are taken most often. And mortgages are no exception, which is not surprising, because Sberbank is the best, most reliable and successful in the country. And offers good service.
What are the conditions for mortgage lending in Sberbank? Pretty profitable. But the requirements for customers are appropriate.
Let's say a person looks after himself an apartment for five million rubles. He does not have enough money, so he became interested in a mortgage, for example, for 5 years at a rate of 11.5%. He will need to make a contribution in the form of 1,000,000 rubles. This is 20% of the amount. In total, the bank, in theory, will lend him four million. He will be approved of the application, but in the event that he is the recipient of a salary at Sberbank and he is paid at least 115,000 rubles per month as a salary. Every month he will give about 88,000 rubles. And as a result, the amount of the overpayment will be approximately 1,280,000 rubles. Profitable or not - everyone will decide for himself.
Overpayments for longer periods
And if we take into account other conditions? The same loan amount and down payment, but the loan will be issued not for 5, but for 30 years - what happensin this case? Nothing good, because every month with a salary of 60 thousand rubles. a person will have to pay 40 thousand rubles. as payments, and as a result, the amount of the overpayment will be 10,900,000 rubles, taking into account the fact that a person “borrowed” from the state 2.5 times less. These are the conditions for mortgage lending in Sberbank. This is not fiction - everything can be checked, because now there are special online calculators for this.
What do you need from the client?
So, the terms of mortgage lending at Sberbank were briefly discussed above. Now you can delve into the topic and talk about what a credit institution needs from their potential client in order to give the green light to a loan.
The first is age. Mortgages can be obtained from the age of 21. The maximum age is limited, as a rule, to 65 years, but this is how much a person should be at the time of debt repayment. True, the notorious Sberbank is distinguished by its extended framework. They have a maximum age of 75.
The most important criterion is seniority. In general, it should be at least a year. And 6 months - at the last place of work. It is advisable not to "jump" from one enterprise to another - the bank does not trust such people.
But the most important conditions for mortgage lending lie in the level of income. A person must earn enough. Because every month he will be obliged to give the bank 40-50% of his income. By the way, the priority for the bank is always those people who have profitable investments (for example, shares). If the client has investments ingold, securities and futures (options), you will need to confirm this. These are the conditions for mortgage lending.
What else counts?
The above is not all the conditions of state mortgage lending. The bank can also take into account the income of the client's immediate family (in the event that they are guarantors) and additional confirmed sources of profit. For example, from renting real estate.
Also, a person should not have any outstanding debts. An ideal credit history is a direct chance for a loan.
By the way, the presence of a co-borrower is also important. Paired clients (husband and wife) are issued mortgages more often than single clients. Because when two people vouch for the payment at once, you don’t have to worry about their responsibility. In addition, the total income is greater. And co-borrowers with children (two or more) have the right to use maternity capital - to repay them the down payment or part of the loan. This is preferential mortgage lending. Otherwise, the conditions are the same as for customers of other categories.
Terms, interest and fees
Mortgage terms are simple but numerous. As mentioned earlier, you can apply for a loan of this type for a different period. But the bank itself determines it. It depends on the age of the client, his income and the size of the loan. It is clear that if a person wants to borrow 2,000,000 rubles, then they will not be given them for a year. If, of course,his salary is not 250,000 rubles per month. But people with such an income do not take loans of two million, so this can not even be considered an example.
The contributions are also different. For example, the notorious Sberbank offers the participants of the Young Family project to contribute only 10% of the total cost of housing. And in the presence of a child, its size will decrease to 5%. The same advantage, demonstrating good mortgage lending conditions in Moscow.
The interest rate in banks is almost the same. It varies on average from 12 to 14%.
Documents
Well, the terms of a mortgage loan are pretty clear in a nutshell. And now about the necessary documents.
In order for a person to receive a “go-ahead” from the bank for a loan, he will have to collect a whole package of documents. The most important thing is an application for a mortgage and a questionnaire. You also need a copy of your passport, insurance certificate, TIN, military ID (for men), document on education, marriage / divorce, birth of children, and also a work book. A photocopied version certified by the employer is also provided. And of course, those documents that are proof of income.
As an addition, you may need a certificate of registration (propiska), copies of the passports of everyone who lives with the potential borrower, and also papers confirming that the person owns certain valuable property. However, if something is required except for the standard set of documents, the person will be notified. The most important thing is not to forget the originals.
Offers for the military
They deserve special attention. A military mortgage loan provides other, more favorable conditions. To begin with, each employee under the contract must enroll in the NIS. This is a savings system. Every year, a certain amount of money will be transferred to the military account, which is the same for everyone. In 2015, for example, it was 245,880 rubles per year. After three years of participation in the system, the military can file a report if he wants to receive a certificate that will give him the right to receive a targeted housing loan from a bank. For which real estate - this is already determined later.
Then the military goes to a mortgage bank cooperating with NIS, opens an account there, to which he transfers all the accumulated money. They pay the first mortgage payment. Then comes the conclusion of the loan agreement. The best part is that the mortgage is paid by FGKU Rosvoinipoteka from the federal budget. And the amount that is repaid monthly is equal to 1/12 of the NIS funded contribution. True, there is one caveat - at the time of repayment of the loan, the military must be at least 45 years old.
The topic of mortgages seems simple. But in fact, it contains a lot of important nuances. The main one is the terms of mortgage lending (in Moscow and other cities of the Russian Federation). And they must be taken into account if there is a need to apply for a loan. We must try to do everything to get it on the most favorable terms.
Recommended:
Which bank gives a mortgage on a room: lists of banks, mortgage conditions, a package of documents, terms of consideration, payment and the amount of the mortgage loan rate
Your own housing is a necessity, but not everyone has it. Since apartment prices are high, when choosing a prestigious area, a large area and the cost increases markedly. Sometimes it is better to buy a room, which will be somewhat cheaper. This procedure has its own characteristics. Which banks give a mortgage on a room, is described in the article
Mortgage on 2 documents in Sberbank: terms of provision, necessary documents and interest rates
Every person wants to own their own living space. But not everyone, unfortunately, has the opportunity to immediately buy it. Fortunately, in our time, almost everyone can get a home loan from a bank. Now we will talk about the option, which is one of the most popular. And this is a mortgage according to 2 documents in Sberbank
Mat. capital as a down payment on a mortgage: conditions. Documents for repaying a mortgage with maternity capital
Only a handful of young families manage to independently purchase their own housing, which would meet their desires, with money set aside from their salaries. Of course, this can be the help of relatives, their accumulated money, but the most common type of funds is mortgage lending
What is a mortgage and how to get one? Documents, down payment, interest, repayment of a mortgage loan
In today's realities of life, when the population of the planet is steadily growing, one of the most pressing is the housing issue. It is no secret that not every family, especially a young one, can afford to purchase their own housing, so more and more people are interested in what a mortgage is and how to get it. What are the advantages of this type of lending and is it worth the hassle?
Which banks give mortgages without a down payment? Where can I get a mortgage without a down payment?
Many would like to live in their own apartment. But not everyone has the money to make the first payment. Are there any alternatives and which banks give mortgages without a down payment?
