The question regarding the conditions under which a mortgage is granted is of interest to many people nowadays. And each person who needs his own roof over his head at least once thought about this issue. Many are scared that they may not approve a mortgage. Well, such cases do happen, albeit rarely. But it is also true that a mortgage loan is extremely beneficial to banks. Therefore, they are issued to many people who have applied for financial assistance. However, knowing about the conditions does not hurt.
Income
The extent to which a potential borrower is solvent is most interesting for bank employees. Under what conditions do they give a mortgage? For those in which the bank's client makes good money and can afford to give part of his income (half, as a rule) as repayment of the debt.
In the eyes of the bank, a person can appear in a good light if he works according to the Labor Code of the Russian Federation, has a higher education and works in one place for at least a year. Entrepreneurs are “welcomed” reluctantly, considering an individual business a risky activity.
Words about your income will have to be confirmed. There are four documents accepted by the bank. These are certificates in the form of an employer, 2-personal income tax, proof of income in the form of a bank and a statement of declared monthly received funds. “Traditionally”, clients pass 2-NDFL. This is a familiar document, which indicates income for a certain period - you can track the dynamics or stability that is valued by the bank.
General requirements
Talking about the conditions under which they give a mortgage for an apartment, one cannot fail to note the general provisions. So, here are the requirements that a person who wants to get a home loan must meet:
- He is required to have citizenship of the Russian Federation.
- The minimum age of the borrower is 21 years.
- Maximum - 65 at the time of repayment. That is, if a person intends to obtain a housing loan in 60 years, then they will give it only for 5 years. These are the requirements of most banks. Although Sovcombank, for example, has a minimum age of 20 years and a maximum age of 85.
- Also, the client must be registered in the region in which he draws up a housing loan.
- Total work experience - at least a year. At the last workplace - from 6 months.
That's, in principle, and everything regarding the conditions under which banks give a mortgage. In some cases, there may be exceptions. As with Sovcombank, for example. Or with "Gazprombank" and "VTB 24", where the experience counts from 4 months. But in general, the requirements for borrowers are the same.
Documents
Even the person who does not understand anything about the topic of loans can assume that 2-NDFL is far from the only paper necessary for obtaining a housing loan. Well, under what conditions give a mortgage? Documents for a person should be as follows:
- statement;
- copy and original passport;
- SNILS (photocopy is also needed);
- TIN certificate (original + copy);
- military ID or registration - for males under the age of 27 years;
- documents on education, marriage, divorce and marriage contract (if any);
- in the presence of children - a birth certificate;
- a copy of the work book, mandatory certified by the employer.
This is the main package of documents. They must be prepared if a person is seriously interested in the question of how to get a mortgage for an apartment.
Who is given a mortgage? Almost everything, and that is why for older people, their retirement certificate is an obligatory document for presentation. And for people with a dubious past - a certificate from the addiction / psychoneurological clinic. However, the bank may request any other documents - but which ones, this will be specified individually.
How much do you need to earn?
The bigger, the better. Paradox! After all, it would seem that a mortgage was created for people in need of financial services. But you really need to earn enough - with the expectation of paying off debt and living.
It is better, however, to give an example. Many go for a mortgage at VTB 24. The conditions are especially favorable there for the bank's customers. So, let's say a person came to arrange a mortgage. He looked after an apartment in a new house for 2,000,000 rubles. He has a down payment of 15% (this is 300,000 p.). And he wants to get a housing loan for 5 years. In this case, his monthly income should be about 63,000 rubles. Because ~ 37,900 he will have to repay as a debt for five years.
Given an interest rate of 12.1% per annum, for this period the client will pay 2,274,120 rubles as debt. Overpayment - 574 120 p. A rather big amount. So, as you can see, the shorter the term and the greater the salary, the less costly the loan will be.
Payment past
It also needs to be noted with attention, talking about under what conditions they give a mortgage. A good credit history is no less important than a good income. And so what, and her banks are checked carefully. Before approving the service to the client, they find out if he has debts under existing contracts, whether he paid the amount in time as payments. In general, as he showed himself as a client. If there is no credit history, then everything will depend on how complete the package of documents submitted by the potential borrower is.
Which property to choose?
This should also be mentioned when talking about the conditions under which a mortgage is granted. It is best to choose an apartment, located in front of not very populated areas. There are no such options? Then you can find something else, the main thing is not to choose an apartment in the dilapidated old houses. Because banks immediately dismiss such “wishes” of customers.
However, real estate is not chosen first. And only after prior approval. But the stage is still important. Since a person needs not to cheapen and invest the funds taken on credit into the best possible option. To do this, there is an appraiser, the services of which will have to resort to the client. He will register the subject of the mortgage and its estimated value. Which appraiser should I contact? This is a personal matter for everyone, but each bank cooperates with organizations of the corresponding profile, so it’s better not to fool yourself with unnecessary questions and use the ready-made option. In addition, this will accelerate the consideration of a housing loan application. Because bank employees will not need to check an appraiser that is unknown to them.
Social programs
They are very popular today. Therefore, the question of under what conditions a mortgage is given to a young family is often asked. So, here are the key points to be aware of:
- The program “Young Family” can be used by spouses, the age of each of which does not exceed 35 years.
- They need to prove that they need to improve their living conditions.
- The area on which they live does not reach the regional norm (6 m 2 per person).
- Housing does not meet sanitary requirements.
- The family shares the communal area with a sick person with whom it is impossible to coexist.
Spouses can receive a subsidy that is intended for partial payment of a mortgage or down payment, financing the construction of their home, paying a housing loan (already issued), buying an economy class apartment.
If income cannot be verified?
And this also happens. Sometimes people who work informally earn very good money - such as would be enough for a mortgage. And, as mentioned earlier, few people refuse a housing loan. So even if there is no official income statement, there is a way out.
But which banks give a mortgage and on what terms? The same "VTB 24", for example:
- 13.1% per annum;
- two documents (passport and a second to choose from);
- minimum down payment from 40%;
- amount - from 600,000 rubles to 30 million.
Let's say an apartment costs 3,000,000 p. The loan amount will amount to 1 800 000 rubles, since 1 200 000 people will contribute 40% as those. Each month he will have to receive about 68,500 rubles in order to repay the loan in 5 years. A little more than 41 thousand will need to be given to the bank as a debt. Of course, the requirements are tougher, but there are advantages. In general, in other banks, “premium” rates for the lack of information can vary from 1 to 5%.
Recommendations
People who have already obtained a housing loan often share tips with those who are just ahead. They certainly know under what conditions banks give a mortgage. And a few sensible recommendations should be noted with attention in the end.
1. Absolutely all people assure: it is important to take out a loan for the amount that you can repay debts for. It would seem that this is so clear! But no, many overestimate their capabilities, because they are inspired by various motivations, such as “parents will help”, “you can find a part-time job”, “we will cut costs”, etc. But in reality it turns out the opposite. Parents are not going to help grown children, part-time jobs are not expected, and eating buckwheat alone is difficult. As a result, everything is in debt, with problems and with a dirty credit history.
2. The shorter the time, the better. So do banks. People who are able to pay debts in a few years, and not in 30, are credible.
3. And another recommendation says that in addition to all the basic documents, the bank should bring additional proof of income. If, for example, a person has one apartment, and he rents it out, then you can imagine, in addition to 2-personal income tax, also an agreement concluded with a tenant. This is a confirmed income, which will certainly play into the hands, as it will be taken into account by a bank employee.
Well, if you take these tips into account, remember all of the above and choose a bank carefully, you can get a loan on the most favorable terms for yourself.