2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
A roof over your head is what every person needs. But, unfortunately, not everyone can afford it. And some just don't have enough money. Then mortgages come to the rescue. The minimum term, according to official data, is one year. But is it really?
General information
To begin with, I would like to say that practice knows three terms of a mortgage loan: short, medium and long. There are no standards regarding their duration. In this case, everything is determined directly by the bank. There are some organizations that agree that the term for the return of a mortgage by a client is 12 months. Others insist on 2-3 years.
After all, due to the fact that people take out a mortgage, banks earn good money. By paying interest to clients. And the amounts are big. After all, housing is now not cheap, and people draw up appropriate loans. And banksthis is a good profit. And it is more profitable for them that the client pays interest for as long as possible.
About conditions
But still there is a possibility that the bank will approve a person such a service as a short-term mortgage. The minimum term is one year. Do not rejoice prematurely, as the client will expect a lot of nuances.
Take, for example, the service of the most popular financial organization in Russia - Sberbank. Suppose a person has looked after an apartment for 5 million rubles. The initial payment will be 750,000 thousand rubles. The rate is 15% per annum. A mortgage to a person under such conditions can be approved only if he can pay about 385,000 rubles a month! At the same time, according to the rules, the amount given as a debt should not exceed 40-50% of the client's income. It turns out that a person should earn about 800 thousand rubles a month. The question arises: does a person with such an income generally need a mortgage? After all, it's easier to wait and buy a home for cash.
But back to topic. Under such conditions, the overpayment on the mortgage for the year will be approximately 355 thousand rubles. And the total amount paid will be ~4.6 million rubles (plus, don't forget about the down payment). However, this is one example. Everyone can calculate everything himself, because there is a mortgage calculator for this.
Requirements for the borrower
It's worth briefly talking about what kind of people can be considered potential customers of the bank. Because you need to meet certain requirements to get a mortgage.
Age -first condition. Applicant must be at least 21 at the time of application. And he can be approved for a home loan only if he can repay it before the age of 60.
Seniority is also important. Minimum is one year. And at the last workplace - 6 months. A person is more likely to get a long-term loan if he works for the benefit of the same institution for a long time. This speaks of his stability and responsibility. The level of income, by the way, must be confirmed by a 2-personal income tax certificate. And the higher the salary of a person, the better.
Interest and fees
Annual rate may vary. Usually from 9% to 17%. It depends on many factors. From the size of the borrower's salary, the method of confirming income, the size of the down payment, the type of interest rate, and even the term of the loan. A mortgage for a year, for example, will be more profitable than a loan for 15 years. Here the principle is this: the higher the term, the higher the interest. By the way, the floating rate is cheaper by 1-2%. Because few people trust her. After all, floating interest is calculated according to a certain formula, which is indicated in the contract. It is usually tied to rates in the interbank market. According to experts, floating interest is the most beneficial for people who want to take a long-term loan. So if you are planning a mortgage for 10 years, you should consider this as an option to save money.
And a few more words about the down payment. It is mandatory, and usually ranges from 10 to 30 percent. If possible, it is better to deposit the maximum amount. Because it will succeedlower the rate. And if you want the best and most convenient conditions, then it is better to contact the bank on the card of which a person receives a salary. The same mortgage calculator will help calculate the potential benefit.
Special program
I would like to pay special attention to the military mortgage. Everyone has heard about her, but not everyone knows what exactly she is. And the point is simple. The law on the accumulative mortgage system for providing housing to the military gives them the opportunity to purchase an apartment much earlier than their service ends.
How is it going? For the military, a savings account is opened, which is replenished monthly by the state. On average, about 250,000 rubles are accumulated per year. 36 months after participating in the program, the military can apply for a document that will en title him to receive a targeted housing loan. Further, he selects real estate that meets the requirements of the Ministry of Defense of the Russian Federation, an insurance company, a bank, and his own desire. Then he turns to a financial institution that lends to military personnel. Then he opens an account and transfers to it the money previously accumulated during his participation in the program. This will be his down payment.
The maximum loan amount for military personnel is, according to 2015 data, 2,200,000 rubles. After clarifying all the nuances and checking the documents, a contract is concluded. And then the vein is given an official certificate confirming his ownership of the registered real estate.
Payments and terms
A loan issued to a serviceman under the above program should not be repaid by him. Payments are made by FGKU "Rosvoenipoteka". And the money is taken from the federal budget. The monthly payment is calculated according to a certain principle. It is 1/12 of the amount of the funded contribution. That is, if a million rubles has accumulated on the account of a serviceman, then about 84 thousand rubles will be paid for him every month. It turns out quite profitable.
The minimum term for a military mortgage is 36 months (i.e. three years). The maximum also has its limitations. At the time of redemption, the soldier must not be more than 45 years old.
As practice shows, the program is really profitable. If you believe the statistics of 2 years ago, then a little less than 100 thousand military personnel acquired housing according to it. The total amount at the same time amounted to 143 billion rubles.
Government-backed loan
In connection with the deterioration of the situation on the construction market, a social program was developed. Subsidies have been offered to certain categories of citizens, thanks to which the purchase of housing has become more real for them. The most relevant social program is a state-supported mortgage designed for young families. The terms of its repayment are the same as in standard cases. Allowed maximum is 30 years.
Getting a subsidy is not easy. Before joining the queue, you need to collect documents and check yourself as a potential participant in the program for compliance. Each spouse must haveRussian citizenship and be registered in the host region for at least 11 years. The age of each must fit into the framework from 18 to 35. From the documents you will need a marriage certificate and passports. If there are children, then documents confirming their presence. Each child is plus 5% to the subsidy. For a family consisting of two partners, the amount allocated is 30% of the cost of housing.
You will also need income statements, personal account statements and a copy of the savings book.
Terms of different banks
It is worth talking in more detail about what conditions are offered to young families by the most famous financial organizations involved in the provision of such services as mortgages. The minimum term is negotiated on an individual basis. But the maximum is different for everyone.
For example, Sberbank offers mortgages for 30 years. The possible loan amount is 3,200,000 rubles. The rate is 12% per annum, it is obligatory to pay 20% of the cost of housing.
"RosselkhozBank" is also engaged in the provision of such services as mortgages. The minimum term is 1 year, the maximum is 30 years. The possible loan amount is 20,000,000 rubles, an initial payment of 10% is required. The annual rate is 14%.
"VTB 24" requests a 20% contribution. Money can be withdrawn from the certificate for a subsidy. But it is recommended to use it to buy housing in a new building, and apply for a bank loan in order to pay the remaining amount. By the way, VTB 24 allows you to usematernal capital. They can pay the first installment.
About benefit
So, enough has been said about how long they give a mortgage and what is needed for its registration. A few words can be said about the most profitable options available for housing loans.
The best way to save money is to buy a house under construction. It is 30% cheaper than ready-made. The savings are obvious. It is best to consider buying an apartment in a house that is at least a third rebuilt - the likelihood that it will be completed and commissioned as quickly as possible is maximum. Another benefit is that a person will receive absolutely clean, new housing. And since the layout of new buildings is modern and optimal, he will be able to choose the most suitable project for him.
And the advantage of mortgages is that many banks cooperate with developers (and vice versa). And this means minimal interest and favorable conditions for the client.
Best timing
In general, mortgages and loans are not the most profitable solution to a financial problem, as a person has to burden himself with debts. But if there is no other option, there is only one way out - to choose the most convenient and economical conditions.
Visually, mortgages for the maximum term seem to be the most profitable. Let's say a person took a loan of 2,000,000 and every year for 30 years he gives the bank only ~20,500 rubles, instead of ~45,600, which he would have to say goodbye to if he took out a loan for 5 years. But only in the case of a maximum period, its overpayment will be about 5,400,000 rubles!Considering that he occupied only 2,000,000 r. But in the case of a 5-year loan, he will overpay only 665,000 rubles. So it's better to think a hundred times before agreeing to this or that condition.
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