2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
The standard of living for Russians today includes the possession of their own housing - an apartment or a house. Indeed, it is not easy to buy an apartment these days without using mortgage programs. Not only because the sums are large, but also due to the fact that the prices for apartments are growing - you will not keep up, you will get tired of saving. And therefore, housing lending is one of the most dynamic segments of the banking market, and individual financial institutions compete quite fiercely among themselves for a client. What can one of the largest banks in the country offer to a sophisticated borrower? Where is the place where a citizen would prefer to find out what the VTB 24 Mortgage is, the conditions of which sometimes differ significantly from the average market, or some other credit institution?
General Conditions
The Russian bank "VTB 24" minimizes the borrower's costs for obtaining a mortgage. In particular, in some programs of this credit institution there is an option for free real estate valuation. As in most other banks, payments are made according to the annuity scheme, which, as a rule, is more comfortable than with a differentiated option. In all cases, early (both fully andand partially) repayment of a mortgage loan is a common practice for VTB 24.
Mortgage, reviews of which other banks do not always indicate a welcome "Stakhanovite" policy of repayment of loans by borrowers, in this case, completely on the side of the client's interests. The bank is ready to consider a variety of documents confirming income, not only a personal income tax certificate. There are options for registering a mortgage without guarantors and using the so-called intermediate form of pledge. In a number of bank programs, a variable (or combined) lending rate may be present - a useful option that can cause positive feedback from customers who are interested in mortgages. VTB 24 is a bank that tries to monitor the mood among borrowers.
Military mortgage
VTB 24 Bank implements a specialized housing lending program for citizens undergoing professional military service. The main feature of this type of mortgage is a low (from 10% of the cost of housing) down payment (at the same time, there are no restrictions in choosing the desired property). Only the services of re altors, an appraiser are paid, insurance is bought (if necessary). It is noteworthy that military personnel of lower and middle officer ranks over the age of 22 can fully participate in the program (however, there is also a limitation - a housing loan cannot be issued if the borrower is over 45).
Types of real estate that can be bought on a military mortgage in"VTB 24" - a house with a land plot or an apartment (both in the secondary market and in the segment of new buildings). An application for a loan is considered, as a rule, within two weeks, and the decision made remains relevant for 122 days. Such is the military mortgage - VTB 24, the conditions of which are fully consistent with the purpose of this program: the bank is always ready to cooperate with people of one of the most honorable professions.
Mortgage and maternity capital
As a down payment on a mortgage, Russian citizens can use state maternity capital. VTB 24 Bank has been practicing this form of lending since 2011. Such loans can be issued not only for secondary housing, but also for those under construction (under an equity participation agreement or co-financing in housing cooperatives). The key condition of the program is that the amount of maternity capital must be at least 20% of the cost of housing, such standards were established by VTB 24 Bank. This type of mortgage is issued for up to 30 years.
Government support
In some cases, VTB 24 borrowers can apply for a mortgage with state support (when part of the interest is subsidized from the country's budget). This bank program attracts with a rather low interest rate (about 11% per annum) with a standard maximum mortgage term (up to 30 years). At the same time, the final rate depends on the number of documents provided by the borrower, as well as on the type of real estate: housing under construction will cost a few points more than new or "secondary" housing. Thisthe program is popular with borrowers who want to know the nuances of home loans and read about what a real mortgage is, reviews. VTB 24 provides interested clients with all the necessary information.
Requirements for the borrower
In general, a borrower applying for a mortgage at VTB 24, which is one of the largest banks in the country, must meet a number of criteria. First, housing loans are issued only to Russian citizens who are 21 years old (for women) or 23 years old (for men). The age limit at which a borrower can be approved for a mortgage is 65 at the time of application. The borrower must be registered (or temporarily registered) in the administrative unit where the office of the bank accepting documents is located. His minimum work experience must be 1 year, and his income must be confirmed by a 2-NDFL certificate or a specialized form of the bank.
It is important to have a positive credit history. Borrower insurance is a prerequisite for a mortgage (otherwise the interest rate will increase by several points). For many borrowers, it is desirable to have an inexpensive mortgage: VTB 24, in which the down payment can in some cases be reduced to 10%, is able to accommodate such clients.
Main programs
Despite the fact that the content of specific mortgage programs of VTB 24 Bank may change depending on market conditions, this credit institution has several standard forms for issuing housing loans. First, thisbuying a home on the secondary market is the most popular option. The rate here starts from 11.85% per year, the down payment in some cases can be reduced to 10% of the cost of the purchased housing. The maximum term for which a mortgage is issued is 50 years. The second most popular lending format is the purchase of housing in a new building. The conditions are the same as under the "secondary" program, but the interest rate strongly depends on the cost of the purchased apartment.
VTB 24 Bank has a branded product that is convenient for people who value their time - "Victory over Formalities". Using it, a mortgage can be issued according to two documents (but the down payment is much higher than in other programs - from 35%). VTB 24 can offer a non-purpose mortgage loan secured by housing that the borrower already owns. The annual rate on it is about 13.8%, the loan term is no more than 20 years, the amount is up to 70% of the value of the property in pledge. There is a special, unlike the options of other banks, but available in the arsenal of VTB 24, mortgage - "Young Family". Below is a detailed story about her. VTB 24 Bank can offer refinancing of existing mortgage loans in other institutions (up to 80% of the property value) at better interest rates and other attractive conditions. Many customers choose this bank only because they refinance their mortgages. Reviews - VTB 24, according to them, is sometimes recognized as one of the most comfortable credit organizations for working in this direction.
What to look out for
Banks issuingmortgage loans on comparable terms, there are a very large number on the Russian market. VTB 24 has some specifics that distinguish it from many competitors. Firstly, this is accounting for the income of not only the borrower, but also his relatives: thus, family solvency is assessed. Secondly, this is a mortgage term of up to 50 years - not every Russian bank will agree to such conditions. Thirdly, if the borrower wishes to repay the loan ahead of schedule, VTB 24 Bank does not provide for any fines, commissions or other encumbrances in this case.
In general, the borrower incurs very little mortgage formality. It is also very important that the bank has an extensive network and is present in almost all regions of Russia. Thanks to this, a national knowledge base is being formed about what a mortgage is, reviews. VTB 24 is one of the centers for consolidating up-to-date information about this market.
Young family
There are borrowers of a special category who really need, and, most likely, on the terms of VTB 24, a mortgage. A young family is about her. One of the narrow-profile programs of the bank is called so. It is designed to facilitate the purchase of an apartment on credit for newlyweds, citizens of young and middle age, raising children and sometimes experiencing financial difficulties. Of course, the bank helps people not at its own expense, but by acting as an intermediary between the borrower and the state, which subsidizes the program: real estate becomes cheaper by 35% (for a couple who have no children) or 40% (if there areone or more children).
At the same time, the age of each of the parents to participate in the program is up to 30 years. The annual rate on the loan "Young Family" is 11%. Mortgage term - up to 30 years. This program is basic, it can be supplemented with a number of other options - for example, with the connection of maternity capital or housing certificates. This program has found huge demand among Russians.
Conclusions about the bank
VTB 24 has one of the most diverse collections of mortgage programs among competing lending institutions. This is not surprising: this bank has an extensive network of offices, and customer service tasks are carried out taking into account regional specifics. A very important option is to show the borrower what the mortgage at VTB 24 will cost, calculate the payment schedule - all this is carried out by the bank. This credit institution works in the interests of many categories of citizens, including those who are not the most socially protected - this distinguishes this credit institution from many other market players.
For borrowers who do not belong to preferential categories, the conditions for issuing mortgage loans are clear and transparent, the nuances associated with payment, account maintenance and early repayment are explained very well. The client begins to understand perfectly what a mortgage is, - VTB 24, the conditions in which in many cases are individual, gives him the necessary knowledge.
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