"Military mortgage": conditions for obtaining in various banks. Terms of Sberbank and VTB on "Military mortgage"

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

Getting a loan secured by housing is called a mortgage. It is used to purchase houses or apartments, while the purchased property remains as collateral, as a guarantee of a refund, but the buyer has the right to use it. One of the types of such lending is "Military mortgage". Its conditions are different from the usual programs provided for the purchase of housing.

History of Appearance

Since 2005, a law has come into force that establishes the possibility for all military personnel to use accumulative mortgage systems (NIS). At the same time, one can start talking about obtaining housing after three years of participation in the relevant programs. This method of lending to the purchase of housing by military personnel began to operate only in 2009.

Its principle is as follows. A serviceman who has been a member of the funded program for three years can acquire housing as a property. At the same time, funds are transferred to his personal account, whichand can be used to purchase real estate. Such a program was created specifically for the military, because their work involves long-term cooperation.

Who can buy a home

Before dealing with the mechanism for obtaining a loan, it is necessary to understand who can participate in a program that allows you to buy a home according to the described scheme. The law applies to absolutely all the military who work under the authority of ministries or federal services. These include not only the Ministry of Defense and Internal Affairs, but those who report to the Ministry of Emergency Situations, Spetsstroy of Russia, the Federal Security Service, the FSO, the Rosoboronzakaz, the Main Directorate of Special Programs of the President and a number of other government departments can become participants.

Participation in the savings mortgage system can be both mandatory and voluntary. All officers who have entered into their first service contracts since 2005, all midshipmen and ensigns who have served in total for more than three years, if counted from the beginning of the same period, fall under its terms.

Also, those employees who were transferred to a position for which the rank of officer is provided, and those who completed the relevant courses and after 2008 received an officer rank, also enter the program without fail.

On a voluntary basis, everyone who graduated from military schools and signed a contract before the beginning of 2005 can participate in the mortgage program. Ensigns, midshipmen, sergeants and foremen also fall under this system.

How the system works

Many are afraid to take part in such savings funds, fearing to be left without money and without housing, while everyone forgets that this is the state "Military Mortgage". Her conditions are as follows: the state transfers the established amount to the allocated personal account from the federal budget to all participants in the mortgage program. All received money due to reliable and proven financing instruments is multiplied. The amounts allocated from the budget are indexed annually. For example, if in 2012 the annual contribution of the state was 205,200, then in 2013 it increased to 220,000 rubles.

Conditions for the purchase of housing

In order to buy their own residential real estate at the expense of the budget, a serviceman needs to be a member of the NIS, and the missing part of the money must be registered only in the partner banks of this program. In other respects, "Military mortgage" is not too different from ordinary housing lending. The conditions for providing money, however, are more loyal, because their return is guaranteed by the state.

Standard loan interest rate depends on whether real estate is purchased in the primary or secondary market, it varies from 9.75 to 11.25% per annum. At the same time, to purchase a home, you must deposit at least 10% of its value. The term of the loan is also stipulated: it is provided for a period of at least three years, while its maximum term is set based on the fact that at the time of full payment to the debtormust be at least 45 years of age.

It is also necessary to be prepared that military personnel will be required to pay all costs associated with the registration of the purchase of housing in order to be granted a "Military Mortgage". Its terms stipulate that the borrower himself spends on insurance, legal related services, housing appraisal and its state registration.

Financial Institutions

Banks, with the help of which the "Military Mortgage" is being developed, do not significantly change the conditions for obtaining this loan. But each of them has its own characteristics and nuances. Five banks cooperate with this program: Gazprombank, Svyaz-bank, ZENIT Bank, VTB 24, Sberbank of Russia. In addition, 30% of all transactions go through the Agency for Home Mortgage Lending.

When choosing a financial institution, any serviceman has the right to find out the conditions for granting a loan in each of them. But for this you do not need to bypass all the banks, memorize or write down the requirements of each of them. On the website of the association of all military personnel of the UNIS federation, you can find not only a list of banks, but also conditions regarding the amount of insurance, additional payments, commissions and other types of loans.

Terms of Sberbank of Russia

If a soldier participates in the accumulative mortgage system and decides to purchase housing on credit, then he needs to familiarize himself with the conditions of various banks, including what Sberbank offers. "Military mortgage", the terms of which can satisfy the borrower,this financial institution is provided only to NIS participants. At the same time, the bank requires that the client be able to confirm the intended use of funds, provide not only the purchased housing as collateral, but also provide a guarantee from the spouse, and take out compulsory insurance. At the same time, the bank provides housing on credit at 10.5%, the maximum period of registration does not exceed 20 years. It is worth noting that the interest rate will be of interest to the borrower only if he is dismissed from the service. While he is in the military, the state pays the loan.

Getting a loan from VTB Bank 24

Sberbank is not the only one popular among servicemen. Many are also interested in the conditions under which VTB 24 "Military Mortgage" is provided. The conditions in this financial institution are slightly different from those offered by Sberbank. Thus, the minimum interest rate in VTB 24 is 9.4%, the down payment can be at the level of 10% of the total cost when purchasing an apartment and 25% if the borrower buys a house with a land plot.

Also, this financial institution requires to insure only the risks of loss or damage to the acquired real estate under the Military Mortgage program. The conditions of the bank do not imply the collection of commissions when issuing a loan, and the funds received can, if necessary, be repaid ahead of schedule. Borrowers have a fairly large choice of housing, because they can buy an apartment in a new building, on the secondary market or buy a house with a plot.

Designdocuments

To obtain a mortgage loan, NIS members must submit the following papers to the bank: an application form, a passport, a certificate confirming the right to receive a targeted loan for housing. These documents are quite enough for the bank to make a decision on issuing the necessary amount of money. The manager of the financial institution fills out the relevant application and sends it for consideration. If the bank approves the possibility of obtaining a loan under the Military Mortgage program, the conditions for its execution will be as follows: the client must collect documents for the object being purchased. So, the list of required papers includes the following:

1. Documents confirming the seller's ownership of the residential premises. This may be a contract of sale, donation, registered inheritance, etc.

2. Certificate that confirms the registered ownership of the object being sold.

3. Technical documentation: passport, cadastral number.

4. Certificates that indicate the absence of arrears in payment of utility bills, rent.

5. Authorization of the guardianship authorities to sell if the seller is a minor.

It is important that all documents are properly executed, otherwise the bank lawyer will not approve the provision of such a loan.

Early termination of service

There are different situations in life, and sometimes people are forced to leave the military. Sometimesthis need also arises for those who have already managed to purchase an apartment with the help of the Military Mortgage program. The conditions for dismissal with a loan issued in any of the financial institutions scare many. Most people are afraid of being homeless, but this will not happen if the borrower agrees to pay the rest of the debt on their own.

The state assumes the obligation to repay the loan only for those who serve. If the military contract was terminated, then the borrower must fulfill all the accepted financial obligations and repay the balance of the debt.