Not everyone can purchase housing right away. In this case, you can use a mortgage. Each bank offers its own conditions and interest rates. The state supports the mortgage, and there are special programs to facilitate payment. But to find out where it is better to take a mortgage, you need to familiarize yourself with the offers of various banks.
The mortgage term for each bank is different. This must be recognized immediately, before drawing up the contract. Usually take a mortgage for 10-20 years. A monthly payment is calculated for each borrower. You can deposit it in large amounts, which allows you to save on interest.
Profitable loans
In Russia, there is one type of mortgage - with a down payment. Without it, it was possible to issue a mortgage only before the economic crisis of 2008-2011. Now this type of loan is not practiced due to lack of reliability. But banks that give mortgages without down payments are very popular. After all, not all families have a large amount at once.
But now you can meet financial institutions that provide a mortgage without a down payment, but only the percentage will be slightly higher. Collateral in the form of existing housing is sometimes required. There may also be other conditions.
Pledge
The ideal option is to purchase a second home when there is already some kind of real estate. In this case, banks provide a mortgage, but not for the whole amount, but for 80%. For example, with an apartment cost of 10 million, 8 million will be provided.
You can take a property with 2 loans. Only for the initial payment, funds should be taken in another bank. In any case, each program will have its own conditions. As collateral, it is usually required to provide another property, a car. This bank needs to guarantee if the borrower for some reason can not pay the mortgage.
Consumer loan
If you are interested in a mortgage, in which bank is it better to take it? It is advisable to contact reputable Russian institutions. There is another option - obtaining a consumer loan. In this case, a deposit in the form of housing is not provided. Banks give out amounts of 300-500 thousand rubles, which will not be enough to purchase an apartment, even in a small city. But such a loan is suitable for buying real estate in the village.
Today there are many programs, but only two are considered the most effective - “Young Family” and maternal capital. For them, borrowers are offered benefits to facilitate payments.
The program "Young family"
Where to get a mortgage for a young family? You should contact the banks that work with the special program "Young Family". Under it, borrowers are granted a subsidy, only spouses must be younger than 35 years old. The conditions include residence in the region of residence for more than 10 years. But even with participation in the program on subsidies, you need to pay a mortgage fee in the amount of about 20% of the value of the property.
Favorable loan conditions based on the Young Family program are provided by Sberbank. The overpayment is 11-12% per annum, and the down payment is about 12% of the amount. To participate in the program, you must prepare the following documents:
- passports of parents;
- birth certificates of children;
- certificate of marriage or divorce;
- income statements;
- extract from the house book;
- photocopies of the personal account;
- document on a survey of family living conditions;
- act on the emergency state of housing;
- document confirming the presence or absence of property.
This is just a basic list of documents, but the bank may require something else. Everything is governed by the rules of the institution.
Borrower Requirements
Mortgages in Moscow and other Russian cities are issued only with borrowers who meet the following requirements:
- age - over 23 years old and under 65 years old;
- permanent place of work for more than 6 months;
- the land on which housing construction will be carried out should be the property of the borrower.
There may also be other conditions for granting a mortgage. It is advisable to take it in large, trusted financial institutions. Among the best institutions can be noted Sberbank and VTB (Bank), in which mortgages are provided on favorable terms. If you need a small loan, it is better to contact the Russian Agricultural Bank.
Where is it better to take a mortgage in order to arrange it at favorable interest rates? In this case, you can purchase a share in the apartment. Then the restriction will be age, length of service, place of work. It is advisable to choose a large bank. It is more profitable to take a mortgage at 13-15% per annum. But many institutions offer loans at 23%, it all depends on the conditions. Some banks require a surety. It may be a loved one or a loved one.
What affects the percentage
Mortgages in Moscow and other Russian cities are provided at interest. Only in one institution can it be small, and in another - high. Be sure to pay attention to the terms of the contract, since the interest rate depends on this.
The benefits of a loan are affected by various requirements, for example, insurance. A significant amount will be added to the loan for this service. But the borrower can refuse insurance within 14 days, it all depends on his desire.
To determine the mortgage payment, an annuity form of payment is used, because of which the interest rate increases. But many believe that such a settlement system is the best waste of the family budget. The longer the mortgage, the lower the monthly payments.
How to get a loan at low interest
Where is it better to take a mortgage to take advantage of a low interest rate? Such loans are offered at various banks, only the following requirements must be met:
- positive credit history;
- stable and well-paid work;
- providing a large amount of documentation;
- the possibility of providing a down payment.
The interest is calculated depending on the loan term and the size of the down payment. The lowest interest rates are provided by large banks. Small institutions usually suffer from instability, so overpayments will be large.
Many banks offer customers individual mortgage conditions. If once a loan was issued, then in the future more favorable conditions are provided. Only trusted customers, banks are willing to issue a mortgage at reasonable interest rates.
The best Russian banks
Before deciding where it is better to take a mortgage, you should familiarize yourself with the conditions of several banks. For each person, the concept of benefit depends on many factors. Some want to quickly pay off the loan so as not to overpay a lot. Others will benefit from a small monthly payment.
Sberbank offers a mortgage at 14.5%, but you will need to pay an initial payment of 50%. It will take 10 years to repay the loan. If you do not provide a certificate of income, the rate rises to 15%. If you pay a down payment of 30%, then the overpayment will be 15.5%.
Interest increases in the following situations:
- if the contract is not signed within a month after the confirmation of the mortgage;
- upon refusal of life and health insurance.
Sberbank has a Young Family program. The initial payment is reduced to 10%, and at birth, the payment of the remaining part of the debt is suspended for 3 years. In repayment of the loan, you can use maternity capital.
VTB is a bank in which a mortgage is provided according to its own method of assigning interest, which allows considering its offer as acceptable. Overpayment is 15.25%. The interest increases only when you opt out of health and life insurance.
A mortgage can be issued at Alfa Bank. Here the client needs to pay a down payment of 50%, and then the loan is provided for up to 10 years. The percentage will be 20%. If the first payment is 30%, then the mortgage period extends to 25 years. Overpayment on the loan will be 21.1% per year.
Maternal capital
Until 2009, the down payment could be made using maternity capital. To use the funds, it was not necessary to wait until 3 years have passed since the birth of the second child.
The certificate should be sent to the bank upon receipt. Capital is transferred by the Pension Fund after re-registration of housing to the owner. Additionally, you must provide an application for application, certificate, certificate of pension insurance.
Mortgage benefits
Before applying for a mortgage, you should learn about all the pros and cons of the solution. This will avoid many difficulties in the future. Specialists distinguish the following advantages of a mortgage:
- the property becomes the property of the borrower, who can purchase a residence permit there, as well as register his family;
- in 2016, the conditions began to apply under which the borrower has the opportunity to repay the debt ahead of schedule without fines and interest;
- the size of the payment is similar to the rent, but the borrower becomes the owner;
- You can take advantage of a profitable program, a social project.
According to experts, a loan to buy a home during the economic crisis is beneficial, since banks at this time provide customers with better conditions. Mortgages also have disadvantages. It is necessary to make an initial payment - 10-20% of the amount. The contract is concluded for a long period, which psychologically burdens the borrower. If you choose the right program, a mortgage will be a profitable investment.