Which banks can refinance a mortgage in Novosibirsk?

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

As early as 2-3 years ago, banks offered high-interest mortgages. Today the rate is a few points lower. If you have issued a mortgage that is unfavorable by today's standards, you can improve repayment terms by refinancing. Which banks in Novosibirsk have such a program, what does it give, and how profitable is it?

Program Features

Refinancing is an on-lending with the ability to improve the terms of repayment of a mortgage loan. The essence of the program: the borrower draws up a new loan, repays an unfavorable mortgage with the funds received and begins to pay off the debt under a new agreement on improved terms. The property becomes collateral for the new lender.

What banks offer as part of mortgage refinancing in Novosibirsk:

• reduced interest rate;
• reducing your monthly payment;
• increase the payment term.

Refinancing a home loan is beneficial only if the rate offered by the bank is at least 1.5-3% lower than under the original contract. You can apply for a service not only inthe bank from which the mortgage was obtained. Many lending institutions refinance the mortgages of other banks. Let's take a closer look at their terms and rates.

Sberbank

Mortgage refinancing in Novosibirsk at Sberbank is available on the following terms:

• from 9.5%;
• amount - from 1 to 7 million rubles;
• term - up to 30 years.

Age of the client - from 21 to 75 years, experience - from six months. When considering an application, the bank pays special attention to credit history. If there were serious delays in the mortgage during the last year, then they will refuse to refinance.

Refinancing mortgage requirements are as follows:

• on the day the request is submitted to Sberbank, the term of the current housing loan must be at least 6 months from the date of signing the contract;
• until the end of the mortgage agreement must be at least 3 months;
• no home loan restructuring.

The program provides for the possibility of refinancing not only one mortgage, but also other existing loans. The client can consolidate all of their outstanding loans into one loan at a fixed rate.

Gazprombank

Mortgage refinancing in Novosibirsk "Gazprombank" is provided on the following terms:

• from 9.2% per annum;
• repayment up to 30 years;
• amount - up to 45 million rubles.

The borrower must benot less than 20 and not more than 65 years old at the time of the request. Requirements for work experience - at least 12 months of work, at the current place - at least six months. If there is a damaged credit history and delinquencies on a valid mortgage, the service will be denied. The requirements for a valid loan are minimal: no debt, the period until full repayment at the time of applying to the bank must be at least 36 months.

VTB 24

What does VTB offer for mortgage refinancing in Novosibirsk:

• from 9.5%;
• amount - up to 30 million rubles, but not more than 80% of the collateral;
• term - up to 30 years (if the client refinances without proof of income, the maximum possible term is reduced to 20 years).

Requirements for clients: age from 21 to 65 years old, registration in the region where the loan was received.

Mortgage refinancing in Novosibirsk can be issued without a certificate of income. If the client receives a salary on a bank card, then information on the amount of income will already be known to the lender. If the borrower is not a debit client of the bank, then instead of a certificate 2NDFL can provide a certificate in the form of a bank certified by the employer. Also, when considering an application, income from part-time work may be taken into account.

Raiffeisenbank

Refinancing at Raiffeisenbank is carried out on the following terms:

• from 9, 5%;
• term - up to 30 years;
• amount - up to 26 million rubles.

Requirements for borrowers: age from 21 to 65 years, Russian citizenship is not required, the actual place of work and residence - in the region where the loan was issued, the presence of permanent registration in the region where the bank branch is located. Work experience - at least 3 months.

Mortgage refinancing in Novosibirsk at Raiffeisenbank is not available for customers with bad credit history, especially if the delays were on a valid housing loan. In addition, the client must not have more than two mortgage loans at the time of contacting the bank.

How to apply

The procedure for applying is practically no different from the procedure for obtaining a mortgage loan. Documents required:

• application-questionnaire (most often, banks use a standard questionnaire, which is filled out when obtaining a housing loan);
• passport;
• mortgage agreement;
• payment schedule;
• mortgage;
• certificate of the amount of debt;
• documents for real estate (certificate of ownership, act of appraisal, contract with an insurance company).

Application for mortgage refinancing in banksNovosibirsk is considered within 7-10 days. With a positive decision, an agreement is signed on improved terms. The bank repays the balance of the mortgage debt, and the client begins to repay the loan under a new agreement.

Pros and cons

How profitable is the procedure, and are there any risks for the borrower? Benefits of refinancing:

1. Reducing the monthly payment. This is an advantageous condition for those whose income level has decreased or mandatory expenses have increased (for example, a child was born). To reduce the payment, the bank increases the payment period by an average of 1-2 years.
2. Reducing the rate. If initially the mortgage was issued at a high interest rate, then the borrower, using the refinancing of the mortgage in Novosibirsk, can change the rate. The decrease in interest will be especially noticeable to those who applied for a mortgage 2-3 years ago. After a couple of years, the rate fell by 2-3 points.
3. Convenience of loan repayment if the borrower refinances several loans at once. Under the terms of the new contract, he will need to make only one payment. Some banks (for example, Sberbank), in addition to the funds used to pay off the mortgage, issue an additional amount on credit for personal needs.

Cons:

1. Payment costs. You will need to pay again for the work of an expert in real estate appraisal, insure the collateral, spend money on paying fees for re-registration of the mortgage.
2. A long and laborious procedure if mortgage refinancing in Novosibirsk is carried out by anotherbank, and not the one that is the mortgagee. The borrower will have to do the same steps as when applying for a home loan for the first time. When applying for a service to "your" bank, the procedure is faster and does not require large expenses.
3. The interest rate will decrease only after the mortgage is reissued and the mortgage is registered with Rosreestr. Before that, it may be 2-3 points higher than stated.

Before applying for refinancing, you need to weigh the pros and cons. To assess the real benefit of the offer, it is advisable to calculate the loan using an online calculator.

Refinancing can significantly reduce interest and make repayment terms more comfortable. The main thing is to choose the right lender. It is best to contact your payroll bank, as in this case it can provide a reduced percentage, and registration costs will be minimal.