Nowadays it’s hard to buy an apartment for cash. For this reason, many have to apply to the bank for a mortgage loan. Is there any benefit, and how can you close your debt ahead of schedule?
Mortgage Housing
Is it worth taking a mortgage? After all, he lays a heavy burden on the shoulders of payers. That's because the interest is very high and often exceed the real value of the apartment. True, there is simply no other way for people. This is the only option that allows you to purchase your own housing. Many, in order to repay a mortgage loan faster, pay large amounts. Limit themselves in everything, if only before the deadline to close their debt. The question arises: is it worth making an early repayment of a mortgage? Sberbank offers various conditions that should be considered in more detail.
General mortgage conditions
Large overpayments on a mortgage loan hit hard on the wallet. Therefore, many think about its early repayment at least partially. The main factors are contractual interest, inflation and exchange rate fluctuations, affecting the amount of payments.
It is most beneficial for the bank to receive monthly payments. Especially the profit goes in the first years, when only interest on the loan is covered. The amount of the loan itself begins to be repaid only in the middle of the term. With timely payments, the mortgage loan is automatically closed on the last day of payment.
Is early repayment of a mortgage possible ? At Sberbank, some customers who have a large and stable income are willing to meet them. In this case, it is allowed to pay the debt by differential payment. As a result, the monthly loan amount is divided into equal parts. The interest is charged on the balance of the debt itself. It turns out that the amount remains unchanged. Only the percentage converted every month changes. Therefore, paying off a mortgage in advance is not difficult. Although there is a nuance: the entire freight payment will be at the initial stage. For this reason, the bank very carefully checks such a client for solvency. The presence of financial stability will allow for full early repayment of mortgages at Sberbank ahead of schedule.
Methods of early repayment of a mortgage
Any bank will be against early repayments. Indeed, their plans include for many years to receive a monthly income from a mortgage loan. This is often the main source of income for the bank. Therefore, early settlement is unprofitable for him, because he loses a large amount of interest under the contract. It is impossible to forbid to close debt ahead of time. According to the civil code, any citizen with a loan at the bank can close the debt ahead of schedule. To exercise their rights, the client needs to notify the bank and its employees in advance about this decision. Often the term is 30 days or more. It is installed in the bank at the conclusion of the mortgage agreement. A statement is written without fail, indicating the reason for the early repayment of the mortgage.
Sberbank to such an application additionally requests details. These include the name of the branch that issued the mortgage loan, information about the client in accordance with his profile, phone number and place of residence by appointment. You must also specify the contract number. The application itself is written in any form, where the client asks to accept the amount for early repayment of the mortgage at Sberbank. The conditions of the bank are such that only after signing the application for repayment of the debt will the date of depositing the required amount to the client’s account be established. After which the mortgage debt to the bank is considered closed. If a partial early repayment of a mortgage is performed at Sberbank, a different payment schedule is drawn up. Then it is mandatory signed by the client and the representative of the bank.
Are there any restrictions for urgent repayment?
Any bank sets certain conditions for repayment of debt on a mortgage. Therefore, it is important, before contacting the bank with this issue, to understand how payment is made for such an obligation. There are two types of payments: differentiated and authentic. In the first case, we are talking about monthly payments, which decrease over time. In the second case, the monthly payment amount throughout the term is the same. It turns out that at the very beginning interest is paid, and already from the middle of the term - the mortgage debt itself.
Most often, the bank works according to the authentic principle, therefore, the procedure for early repayment of mortgages in Sberbank has its own characteristics:
- The first condition is a limit on a certain amount. It is paid as prepayment. The minimum amount is 15,000 rubles.
- The second condition provides for the client to contact the bank one day before the main payment. That allows the client to calculate their financial capabilities and plan all payments in advance.
- An important point is the timely payment. Everything happens after writing a statement and accepting it by a bank employee. You can make a payment at the cash desk of Sberbank or through a terminal installed in the bank itself.
- Then, after making the necessary amount, the client pays the next payment indicated in the credit schedule. After paying the next installment, the bank manager is obliged to provide a new payment schedule. It should take into account the amount credited to the account, which indicates a partial early repayment of the mortgage.
Sberbank also offers an online option worth talking about.
Debt repayment online
This option is suitable for those who, due to circumstances, are very busy. Therefore, he cannot find the time to make an early repayment of a mortgage at Sberbank. The conditions here are very simple. You need to go to the official website of Sberbank. There is a special calculator where all the necessary customer data is entered. Thanks to this service, it becomes possible to repay a full or partial mortgage loan in a short time. If we are talking about the second option, the bank manager subsequently sends the client a new payment schedule.
Early repayment of a mortgage
Each client is allowed to make an early repayment of the mortgage. Sberbank provides an opportunity to pay off your debt in advance. As indicated above, there are various conditions and possibilities for this. It all depends on the type of loan. That is why it is important, before concluding a mortgage agreement, to familiarize yourself with all the proposed conditions. In any branch of Sberbank you will be informed that there are various options for early repayment of the loan. At the request of the client, they can perform calculations according to the declared data, and then draw up a preliminary payment schedule. It’s best to clarify the situation before you sign the mortgage loan documents.
Is it worth it to repay a mortgage debt ahead of schedule?
If you pay on schedule for a long time, then you should consider whether it is worth paying off your mortgage loan ahead of schedule. Those for whom monthly payments are not a burden should wait a bit. Indeed, for early repayment, you will have to collect the necessary amount, which means that you squeeze yourself in the budget. On the contrary, when a mortgage is a burden, you should look for options to improve your life: early close the debt or reduce the amount of payment by partially closing the debt.
Opinions of bank customers
If you analyze the situation, then early repayment of a mortgage in Sberbank has a variety of reviews. Some people like the low interest rate on a loan. True, those who have a salary card can get it. In addition, it is convenient for such customers to pay off monthly payments. Others are outraged by too stringent requirements for the borrower. Of course, there are certain nuances in mortgage lending at Sberbank and its early repayment. Nevertheless, this bank offers the most favorable conditions. Provides various options for early closure of mortgage debt. It adapts to its customers and meets them, which is very important, say Sberbank customers.