Wanting to purchase their own housing, customers turn to Sberbank for registration of mortgage loans. A mortgage allows you to purchase an apartment or a house without waiting for the buyer to accumulate the required amount of cash. The terms of consideration affect the ability to purchase the desired property. Therefore, many customers want to know how long to wait for the approval of a mortgage at Sberbank. The conditions depend on the specifics of the contract, but most applications are considered on time.
What determines the consideration of the application
The process of considering a mortgage application at Sberbank depends on several factors:
- credit history of borrowers;
- terms of the contract;
- workload of specialists;
- submitted documents.
The largest bank in the country has several thousand underwriters of the mortgage department that deal with credit transactions. How much they wait for approval of mortgages at Sberbank depends on their activities.
Despite the general requirements for the examination of applications (no more than two days), in exceptional cases it is possible to slow down the process for up to five days or more.
How credit history affects the consideration of mortgages in Sberbank
The largest lender of the country prefers to provide borrowed funds only to trusted borrowers. A mortgage agreement is a special type of lending designed for a long term and characterized by a large amount of borrowed funds. Therefore, Sberbank employees involved in considering loan applications pay special attention to the credit history of borrowers.
Approval of a mortgage application in Sberbank for customers with a good credit history occurs within 1-6 hours from the date of application. Those who previously allowed delays have to wait much longer.
The term for consideration in their case may be maximum - 2 business days. And there is no guarantee that Sberbank will decide in favor of overdue customers.
Credit history study: why is it necessary
Even those who repay loans on time are recommended to know information about their credit history. When registering a mortgage, the credit history is of particular importance - based on its analysis, a decision is made whether the client will receive a targeted loan or not.
If the manager reports that the term of approval of the mortgage in Sberbank is increasing due to the credit history of the client, you should carefully study its features yourself. Help can be ordered at Sberbank Online. The client finds out the result within 5 minutes.
If the credit history is spoiled, the term for approving a mortgage at Sberbank may be the maximum. But, most likely, the borrower will be denied the receipt of funds. In order to be able to become the owner of your own home in the mortgage in the future, you should take care to correct the situation, for example, microloans.
Co-borrowers
In order to influence the decision of the underwriters in their favor, it is recommended, if possible, to pay off current debts in credit organizations. This will improve the credit history and increase the solvency of borrowers.
It is known that spouses, when filling out an application, automatically become co-borrowers. If one of them previously allowed delays, this will affect the general consideration of the mortgage application. To increase the chances of approving a mortgage at Sberbank, you can apply for another family member. He will be the title borrower.
One spouse with a good credit history may be a co-borrower. This will increase the overall solvency of customers and positively affect the speed of processing a loan application.
Extension of the application processing time: reasons
The term for consideration of a loan application at Sberbank is 2 business days. During this period, specialists study the borrower's need, his earnings and credit history, check documents. If there is no doubt that the client will return the borrowed funds without delay, the probability of approval of the mortgage in Sberbank during the day is 78%.
But sometimes customers are faced with the fact that the bank considers their application for the purchase of real estate for 5 days or more. How much to wait for the approval of a mortgage in Sberbank in this case?
An increase in the term for making a decision on a mortgage loan is usually associated with a lack of documents or insufficient solvency of borrowers. But Sberbank does not always refuse such borrowers during the time period specified by the terms of the loan.
Sometimes the bank makes concessions to customers who can boast of a good credit history, the presence of deposits or repaid loans on time at Sberbank. The bank also trusts regular borrowers more than customers "from the street." Therefore, an increase in the loan term should not be alarming for such clients: they can count on approval of a mortgage at Sberbank, albeit with a delay of 2-3 days.
Features of the consideration of documents when applying for a mortgage
A mortgage loan differs from a regular consumer loan in not only an increased volume of credit funds, but also in a targeted nature. This obliges the borrowers to more carefully treat the provision of certificates to the bank. If for a consumer loan to salary customers it is enough to present a passport to the manager of Sberbank, then when registering a mortgage, one DUL is not enough.
Initially, customers can apply by providing only a passport. But after approval, they are required to present documents confirming the target nature of lending.
If the borrower does not receive his salary in an account with Sberbank, the list of his references will automatically increase. The provision of an income document with the seal of the organization and the signature of the authorized person is a prerequisite for obtaining credit. The validity of such a certificate is limited - no more than a month.
In the absence of signatures or seals, the manager of Sberbank may not accept the document. This will increase the deadline for applying for a mortgage loan. If the borrower still manages to provide an incomplete set of certificates, he will have to bring the remaining documents to the bank within a week. Otherwise, the decision to grant a mortgage loan will be considered not in his favor.
Lack of certificates in full or improper format of documents - the reasons why the bank refuses to receive funds. Credit history or relations with the bank before this will not matter in this case.
A complete set of certified certificates is the key to a quick review of a mortgage agreement. How much to wait for the approval of a mortgage in Sberbank in this case? As a rule, responsible borrowers receive an SMS that the loan is approved, within 2 hours from the date of application.
How to reduce the loan review period
Sometimes real estate offers are so beneficial that customers don’t want to miss their chance to become owners of their own apartment in the shortest possible time. Sberbank does not deprive customers of such an opportunity: customers can draw up documents and receive borrowed funds for the purchase of housing within 2 days.
If this is too long, borrowers should take care to reduce the time for considering a mortgage loan. Not always a quick loan decision depends only on customers. But borrowers may well influence it. And this does not require much effort.
Everyone can reduce the time for approving real estate for a mortgage in Sberbank. To do this, you must:
- collect all documents and certificates in advance;
- check documents for compliance with banking requirements;
- study your credit history;
- calculate the odds of approval using an online calculator;
- choose a convenient schedule;
- take care of a quick deal (best with a realtor).
Where to find out the document requirements
In order not to waste time on redoing references, it is better to prepare for the collection of documents in advance. On the official website of Sberbank there is information about what should include any of the documents. Clients can also receive information at the initial consultation at the office of Sberbank.
It is not difficult to meet the requirements: the largest bank in the country accepts standard certificates issued in the company's accounting department. Samples of documents are presented on the website of Sberbank.
According to customer reviews, it took them no more than 10 days to collect documents for mortgages. In accordance with the requirements of the bank, borrowers did not have to re-submit certificates or waste time re-issuing them. The term of approval of mortgages in Sberbank for such borrowers was 3-10 hours. They learned about the decision in SMS from 900.
Calculation of loan conditions online
The calculator on the website of Sberbank is not only an entertainment for borrowers. It allows you to accurately assess whether there is a chance of obtaining a targeted loan for the purchase of housing. The calculation is made taking into account the characteristics of customer income and the terms of the contract. You can calculate the mortgage per client or co-borrowers.
The calculation on the site does not mean that the conditions for submitting an application at the bank’s office will be 100% identical. But the client will be aware of how the bank evaluates its chances of obtaining a loan. This will allow you not to worry about the fact that underwriters have been studying the application for a long time.
If the system generates an error during online settlement, then it will be problematic for a client to get a mortgage with this level of earnings. This may affect the terms of consideration of the application: in 90% of cases they will be maximum, since applications with difficult settlement are studied longer.
But even a lengthy review cannot indicate a 100% failure. On the contrary, sometimes customers who are already desperate to get a mortgage received the coveted SMS from 900 after 2 working days.
Choice of repayment schedule for Sberbank mortgage
The correct selection of payment plays a key role in the approval of a mortgage agreement at Sberbank. If the client chooses a too large amount of contributions, there is a risk that he may be late. This will negatively affect your credit history.
When considering a loan application, Sberbank specialists pay special attention to the ratio of the size of the payment to the client’s salary. If the amount of funds that will be paid monthly on a mortgage exceeds 40% of the borrower's income, the bank may refuse to approve the application.
Those who have already received loan refusals are interested in the percentage of mortgage approval in Sberbank. The lender does not disclose the exact figures to customers. According to experts, 7 out of 10 applications for a mortgage are approved within 24 hours after registration.
If the client has not provided all the documents, or there is an error in them, this may affect the speed of making a decision on a mortgage loan. An incorrectly drawn up payment schedule is the reason why the borrower may receive a waiver from the bank. Therefore, it is recommended to focus on the term: it should be such that the client has a convenient payment size. The average term for processing transactions under mortgage agreements is 15 years.
If desired, the borrower can repay the mortgage ahead of schedule, reducing the term or amount of installments. But when submitting an application, you should not indicate too large a monthly payment, even if the payer has additional income to pay it off.
Do I need a realtor to expedite the transaction
Any borrower who is thinking about buying a property always wants to minimize the time of the transaction. But at the same time, no one wants to mess with scammers. Therefore, customers prefer fast but safe transactions in the real estate market. To do this, they resort to the help of real estate companies.
Regarding the approval of the mortgage in Sberbank (how long), real estate specialists can inform clients after the conclusion of the contract. The duties of a realtor also include full support of the transaction. One of the stages of the process is the choice of a loan program. The conditions for approving a mortgage at Sberbank allow the lender to be one of the main partners when arranging a target loan. Therefore, often clients turn to realtors to help them expedite the consideration of a mortgage loan.
Real estate companies are aware of the term of approval of mortgages in Sberbank. But they cannot change it. However, real estate professionals can significantly facilitate the task of borrowers at the initial stage of a loan transaction.
Realtors are advising on how and where to get certificates, which should be indicated in the application. But their main task is the correct and quick choice of housing. They will help clients figure out how to extend the term of approval of a mortgage at Sberbank, if the transaction is not yet ready.
But borrowers must remember that the services of realtors are paid at the rates of the company. If housing is purchased on the secondary real estate market, then the seller of the apartment should also be notified of the conclusion of a contract with a real estate company. You can pay for the service by either of the parties, or both parties to the transaction at the same time.
How to increase the chances of approving a loan
Knowing the conditions for considering loan applications, customers want to be sure that they will soon become owners of an apartment or house. But for this, you first need to get borrowed funds from Sberbank.
There are some tips to increase your chances of approving a mortgage. All of them are advisory in nature and cannot give a 100% guarantee that the transaction will take place. To get approval for a mortgage at Sberbank, it is recommended:
- Pay off existing obligations. Without loans, the borrower's solvency will be maximum. This will greatly increase the chances of approving a mortgage.
- Do not apply to several banks at the same time. Of course, everyone wants to check in advance the approval of a mortgage at Sberbank or another organization. But large lenders monitor whether the client has an interest in obtaining borrowed funds from another organization. The presence of an application in another bank may cause a refusal of a mortgage at Sberbank.
- Choose reliable co-borrowers. If the family of one of the spouses has a bad credit history or low earnings, you can attract other relatives to the loan. The title borrower should be a payer with a high salary, who previously did not allow delay.
- Transfer wages to an account with Sberbank. The bank treats its "customers" with great confidence. Payers who receive a salary to an account with Sberbank are not required to provide income information. The mortgage rate for them will be minimal.
- Keep funds for down payment at Sberbank. This will increase the lender’s loyalty and speed up the transaction at the stage of loan processing.
How to find out if a mortgage is approved
After registering a mortgage in Sberbank, customers have to wait for the decision of the underwriters. Currently, approval at Sberbank, no matter how much the borrower requires, takes place within the specified time. On average, a decision is made within 6 hours.
To immediately find out if a mortgage is approved or not, the client is advised to stay in touch. Therefore, it is important to indicate only the current mobile number. It will receive a notice from the bank as soon as a decision on the loan is made.
After notification, as a rule, the manager informs the client about the decision of the bank additionally. Next is the next stage of the transaction, with the provision of certificates for housing. According to reviews, how much to wait for the approval of a mortgage at Sberbank, the loan officer notifies at the time of application.
In exceptional cases, you don’t have to wait for a decision at all: before you leave the bank, the client may receive a message that his application has been approved.