2-3 years ago, banks offered a mortgage at a high interest rate. Today, the rate is several points lower. If you have a mortgage that is not profitable by today's standards, you can improve the repayment conditions by issuing refinancing. Which banks of Novosibirsk have such a program, what does it give, and how beneficial is it?
Program features
Refinancing is a refinancing with the ability to improve the terms of repayment of a mortgage loan. The essence of the program: the borrower draws up a new loan, at the expense of the funds received, repays the unprofitable mortgage and begins to pay the debt under the new agreement on improved conditions. Real estate becomes the key to a new lender.
What banks offer as part of mortgage refinancing in Novosibirsk:
- reduced interest rate;
- reduction in monthly payments;
- extension of the payment term.
Refinancing a housing loan is beneficial only if the rate proposed by the bank is at least 1.5-3% lower than under the original contract. You can apply for the service not only to the bank where the mortgage was received. Many lending institutions refinance mortgages of other banks. Consider their conditions and rates in more detail.
Sberbank
Mortgage refinancing in Novosibirsk in Sberbank is available on the following conditions:
- from 9.5%;
- amount - from 1 to 7 million rubles;
- term - up to 30 years.
Client age - from 21 to 75 years, experience - from six months. When considering an application, the bank pays special attention to credit history. If there were serious delays in the mortgage during the last year, then refinancing will be refused.
The requirements for a refinanced mortgage are as follows:
- on the day the request is submitted to Sberbank, the term of a valid housing loan must be at least 6 months from the date of signing the contract;
- until the end of the mortgage agreement must be at least 3 months;
- lack of restructuring of housing loans.
The program provides for the possibility of refinancing not only one mortgage, but also other existing loans. The client can combine all of his outstanding loans into one loan at a fixed rate.
Gazprombank
Mortgage refinancing in the Novosibirsk Gazprombank is provided on the following conditions:
- from 9.2% per annum;
- repayment up to 30 years;
- amount - up to 45 million rubles.
The borrower must be at least 20 and no more than 65 years old at the time of the request. Requirements for experience - at least 12 months of employment, at the current place - at least six months. If there is a damaged credit history and delays in the current mortgage, the service will be denied. Requirements for an existing loan are minimal: no debt, the period until full repayment at the time of applying to the bank should be at least 36 months.
"VTB 24"
What does VTB offer for mortgage refinancing in Novosibirsk:
- from 9.5%;
- amount - up to 30 million rubles, but not more than 80% of the pledged item;
- term - up to 30 years (if the client draws up refinancing without proof of income, the maximum possible period is reduced to 20 years).
Requirements for customers: age from 21 to 65 years, the presence of registration in the region of obtaining a loan.
Mortgage refinancing in Novosibirsk can be issued without a certificate of income. If a client receives a salary on a bank card, then information on the amount of income will already be known to the lender. If the borrower is not a debit customer of the bank, then instead of the certificate 2NDFL can provide a certificate in the form of the bank, certified by the employer. Also, when considering an application, part-time work income may be taken into account.
Raiffeisenbank
Refinancing at Raiffeisenbank is subject to the following conditions:
- from 9.5%;
- term - up to 30 years;
- amount - up to 26 million rubles.
Requirements for borrowers: age from 21 to 65 years, the presence of Russian citizenship is not required, the actual place of work and place of residence - in the region of loan processing, the presence of permanent registration in the region where the bank branch is located. Work experience - at least 3 months.
Refinancing mortgages in Novosibirsk at Raiffeisenbank is not available for customers with poor credit history, especially if the delinquency was due to a valid housing loan. In addition, the client should not have more than two mortgage loans at the time of applying to the bank.
How to make out
The procedure for registration is practically no different from the procedure for obtaining a mortgage loan. What documents will be required:
- application form (most often banks use a standard questionnaire, which is filled in when obtaining a housing loan);
- passport;
- documents proving financial condition and labor activity (2NDFL certificate for the last six months, work book, certificate in the form of a bank, certificate from the FIU and other papers confirming the size of the salary and stable employment);
- mortgage agreement;
- payment schedule;
- real estate mortgage;
- certificate of the amount of debt;
- documents for real estate (certificate of ownership, deed of appraisal, contract with an insurance company).
An application for refinancing mortgages in banks of Novosibirsk is considered within 7-10 days. With a positive decision, an agreement is signed on improved terms. The bank repays the rest of the debt on the mortgage, and the client begins to repay the loan under the new agreement.
Pros and cons
How beneficial is the procedure, and are there any risks for the borrower? Benefits of refinancing:
- Reduced monthly payment. This is a favorable condition for those who have reduced income or have increased compulsory expenses (for example, a child was born). To reduce the payment, the bank increases the payment term by an average of 1-2 years.
- Rate reduction. If the mortgage was originally issued at a high interest rate, the borrower, using the mortgage refinancing in Novosibirsk, can change the rate. The decrease in interest will be especially noticeable to those who registered a mortgage 2-3 years ago. After a couple of years, the rate decreased by 2-3 points.
- Convenience of paying a loan if the borrower refinances several loans at once. Under the terms of the new contract, he will only need to make one payment. Some banks (for example, Sberbank), in addition to funds used to pay off mortgages, issue an additional amount on credit for personal needs.
Minuses:
- Registration costs. It will be necessary to pay again the work of an expert in real estate appraisal, insure a pledge, spend money on paying fees for re-registering a mortgage.
- A long and time-consuming procedure if the mortgage refinancing in Novosibirsk is carried out by another bank, and not the one that is the pledge holder. The borrower will have to do the same steps as with the initial registration of a housing loan. When applying for a service in “your” bank, the procedure is faster and will not require large expenses.
- The interest rate will become lower only after the renewal of the mortgage and registration of the mortgage in Rosreestr. Prior to this, it may be 2-3 points higher than stated.
Before you arrange refinancing, you need to weigh the pros and cons. To evaluate the real benefits of the offer, it is advisable to calculate the loan on an online calculator.
Refinancing can significantly reduce interest and make repayment conditions more comfortable. The main thing is to choose the lender correctly. It is best to contact your payroll bank, as in this case it can provide a reduced percentage, and registration costs will be minimal.