The question of which bank is better to take a mortgage in is asked by almost everyone who decides to buy a home. And the point is not even the lack of funds, but the impossibility of accumulation. Due to the unstable financial situation in our country, the amount that real estate will cost now in ten years is unlikely to be enough for half the apartment.
Which bank is better to take a mortgage? We understand.
Bank selection
Each person, before taking a mortgage, calculates the annual percentage, which he is ready to agree to. In mortgage lending, this is a crucial argument for any bank. However, not the only one. There are still many aspects that should be paid attention to the average borrower.
Do not forget about the down payment, which requires any banking organization where there is a mortgage service. Most banks raise the down payment threshold to thirty percent of the cost of housing and above. This means that the borrower will look for more profitable options if he does not have such an amount. But there is good news. It lies in the fact that there are banking organizations that agree to ten or twenty percent of the down payment, or those for which it is completely unprincipled. You can consider options for replacing the down payment.
So before deciding on which bank is better to take a mortgage, you need to consider many nuances.
Insurance
An important role in the formation of the cost of a mortgage loan is played by the insurance conditions. Any banking organization requires the borrower to take out real estate insurance, which is participating in the pledge. The bank is not entitled to demand insurance of the borrower's health and working ability, but the presence of such insurance may favorably affect the final size of the mortgage loan. Still, insurance is a good thing, and it should be issued not only for banks. When choosing a borrower in which bank it is better to take a mortgage, one must remember that some lenders do not approve a mortgage loan without title insurance, which protects against the risks of loss of ownership of the home.
Mortgage at Tinkoff Bank
First of all, you need to carefully study the information about any institution, if the question arises as to which bank is better to take a mortgage. Reviews about this bank are mostly positive. Tinkoff provides an exclusive property selection system and mortgage loan. It is enough to submit an application to the bank, and its employees will send it to other credit organizations with which Tinkoff cooperates. With this method of work, the interest rate is reduced by a percentage. And if the borrower applied directly, the commission would not decrease. Tinkoff Bank 's partners are more than ten organizations, including Vostochny Bank, Gazprombank, URALSIB Bank , and the state agency AHML. Consider the conditions for the provision of a mortgage loan:
- the interest rate is considered to be from eight percent per year, for some primary housing - from six;
- the maximum amount of a mortgage loan is one hundred million rubles;
- a loan is granted no more than thirty years.
To send a request to the bank, you must fill out an online application. A questionnaire is filled out on the website of a banking organization. Two hours after leaving the application, the borrower will already be able to get an answer. The down payment starts at ten percent, but it depends on the partner bank. Also on the site you can read about which bank is better to take a mortgage. Reviews and information on partner banks are freely available.
Mortgage Loan at Sberbank
This bank is the largest and most famous in Russia. Any of his suggestions is widely discussed and of interest to everyone. Mortgage lending is primarily concerned. To the question of which bank is better to take a military mortgage, family or with state support, almost everyone will call Sberbank. If the borrower insures life and ability to work, then the bank can reduce the rate by one percent. Participation in the state program "Young Family" will help reduce the commission by another 0.5%. And electronic registration of the transaction will reduce this figure by another 0.1%.
The main conditions for mortgage lending in Sberbank:
- annual commission starts from 7.4% and depends on the chosen mortgage program;
- the minimum loan amount is three hundred thousand;
- the maximum term for which a loan is granted is thirty years.
The amount of the down payment depends on the mortgage lending program, but cannot be less than fifteen percent. Loans are issued both for the purchase of housing in a new building, and in the secondary market, or for the construction of a private house. A banking organization can apply for a mortgage without confirmation of income by the borrower and with just two documents. Now, to the question of which bank is better to take a military mortgage or any other, it is safe to say that in Sberbank.
Offer "Raiffeisen Bank"
Which bank is beneficial to take a mortgage, and where is the interest rate fixed? Of course, in this. The bank is moving towards it and does not have a “floating” interest rate, but its requirements for borrowers are tougher. The main one is comprehensive mortgage insurance. If the borrower refuses insurance, the bank raises the interest rate to 3.5% per year. The increase depends on how old the borrower is and whether he has co-borrowers.
Terms of a mortgage loan at RaiffeisenBank:
- annual commission can reach 10.25%;
- maximum loan amount - not more than eighty percent of the price of housing;
- the borrower can count on a mortgage of thirty years.
The Bank permits the purchase of housing both in the secondary market and in new homes. As a pledge, you can leave either the existing housing or purchased.
Bank "Revival"
This bank is on the list thanks to a down payment of only ten percent. While the housing is being built, the interest rate is close to thirteen percent, and after the registration of the apartment in the property is reduced to 12.75%. As is clear from the conditions, the bank works only with primary housing.
"Bank of Moscow"
It is profitable to take a mortgage at the Bank of Moscow, if only because there is a basic interest rate that rises or falls due to any reason. For example, the area of acquired housing or the status of a client will affect its reduction.
A banking organization issues loans under the following conditions:
- annual commission starts from 9.5%;
- there is no maximum or minimum amount;
- the longest loan term is thirty years.
To issue a mortgage in this bank, just two documents are enough. But this does not mean that the conditions in the presence of a minimum package of securities will remain the same. In this case, the down payment becomes larger, and some credit conditions worsen. The initial installment starts at ten percent and may increase.
The borrower must correctly assess in which bank you can take a mortgage, and what conditions exist for this type of loan.
Mortgage at Alfa Bank
It is most profitable to take a mortgage for those people who receive a salary through Alfa Bank. But this does not mean that any other borrower cannot apply there. Which bank to take a mortgage with a base interest rate, if not at Alfa Bank? Among the advantages of mortgage lending, it is worth highlighting that a decrease or increase in the interest rate depends on the choice of additional options.
Mortgage conditions:
- annual commission is 12.5%;
- the bank is ready to provide a mortgage of up to fifty million;
- the longest loan term is limited to thirty years.
The down payment should not be less than fifteen percent of the deposit amount. If the borrower refuses to insure life, disability and health, the banking organization increases the percentage for services by 2%.
"Khanty-Mansiysk Bank"
This bank provides a mortgage loan at 14% for ten years of construction. After the borrower formalizes housing, the commission will be reduced annually by 0.5%. As far as conditions are clear, the bank works only with housing under construction.
Mortgages in VTB 24
The banking organization has a mortgage program "New building". Its difference from the rest is that the interest rate depends on the amount of the mortgage. So, with a loan of less than 5.5 million rubles, the annual commission will be 12.95%. And when registering a mortgage from 2.5 to 5.5 million, the rate will increase to 13.35%. The advantage of mortgages in this bank lies in the fact that, unlike other organizations, this period of mortgage payments can reach up to fifty years.
General requirements of banks
In which bank it is better to take a mortgage for a pensioner, a working person or an unemployed - everyone determines for himself. But there are criteria that are mandatory for obtaining a loan at any banking organization.
Let's consider them in more detail.
- The borrower must not be younger than 21 years old and older than 65 years (this is the figure at the time of payment of the last installment).
- The borrower must be a citizen of the Russian Federation.
- The lender must have a registration (whether permanent or temporary). Rarely requires registration in the region where the bank is located.
- The borrower must have a job with official employment and continuous experience for six months. Total work experience should not be less than twelve months.
An application for a mortgage loan can be submitted both personally, having come to the bank, and on the official website. If the application is previously approved, the borrower may begin to search for housing. From sixty to ninety days are allocated for the search. When an apartment or house is found, documents are submitted to the bank, where lawyers begin checking the cleanliness of the purchased housing. If specialists approved the choice, the next stage begins - an independent assessment of housing in the secondary market. When all points are agreed, the contract is signed, and the transaction takes effect. The money is transferred to the borrower, after which a purchase and sale transaction is completed.
Package of documents
It doesn’t matter where it is better to take a mortgage - no matter what bank the borrower is in, a certain set of documents will be required from him everywhere. These include the following.
- Personal passport of the borrower (document of the Russian Federation) with photocopies of each page, even blank ones.
- Copies of pages of labor books where there are records of places of work. Everything must be confirmed by the employer.
- Certificate of income of the borrower in accordance with banking standards, or 2-NDFL, or tax return.
- Certificate of pension insurance SNILS.
- Additional documents upon request of a banking organization.
Lightweight Mortgage Programs
For young families, the question of which bank is better to take a mortgage is very acute. Voronezh is not distinguished by any special mortgage offers, like most provincial cities. Currently, many local banks, for example, have developed mortgage programs involving maternal capital. But since it is paid only after registering the ownership of a house or apartment, not every bank will agree to work with it.
In addition to loans based on maternity capital, there are other programs for young families. For example, when asked about which bank is better to take a mortgage in St. Petersburg for a family, you can confidently answer that in Sberbank. All because he is the first to start working with government programs. Programs from the state allow you to purchase housing even with a small working experience or a small salary.
Also, under such programs, young specialists return to the villages, because housing is cheaper there, and lending conditions are more profitable.
The choice of bank depending on the purpose
Which bank is better to take a mortgage in 2018 depends largely on what type of housing the borrower wants. So, if this is an apartment in a house under construction or a new building, then you can try to get a mortgage loan with state support.
At the same time, a low interest rate will be ensured by:
- "Absolut Bank";
- Globex Bank;
- VTB 24;
- LOCKO-Bank;
- "Moscow Industrial Bank";
- Sberbank
In the Moscow and Leningrad regions, you can get a mortgage loan of up to eight million rubles with state support. But you need to remember that the down payment cannot be less than 20%. But the rate starts from 7.5% and reaches 11%.
Which bank to take a mortgage? Reviews mostly vary when it comes to secondary housing. The fact is that the purchase of housing from the secondary market is not supported by the state, so there are no special programs. To at least somehow increase the benefits of obtaining a mortgage, borrowers are invited to regularly monitor seasonal banking offers.
With an annual commission of 10-12.5% and an initial payment of not more than ten percent of the amount work:
- Rosenergobank;
- Interkommerts Bank;
- IntechBank;
- Promsotsbank;
- Bank "Informprogress".
Those borrowers who belong to social categories can take advantage of social mortgage lending.
These are categories such as:
- young family;
- the large family;
- pensioners;
- war veterans;
- military personnel;
- state employees;
- those people who live in emergency homes.
Social mortgage lending services are provided by:
- "Prisco Capital Bank";
- Rosbank;
- ITB Bank;
- AHML;
- Russian Mortgage Bank.
Those servicemen who participated in the NIS (funded mortgage system) are eligible for a mortgage loan at twelve percent per year.
Military mortgages are available at Sberbank, VTB 24, Garzprombank and Zenit Bank.
Also, mortgage loans at a small annual percentage are ready to provide MKB, Rosselkhozbank, VTB 24, Bank of Moscow and Sberbank.
Mortgage and collateral
An excellent option would be buying a home on a mortgage on the security of an existing one. In this case, banks are happy to approve the application, but we are only talking about 80% of the cost of housing. That is, if an apartment costs twenty million, then the borrower can only count on sixteen.
There is also the option of buying a home without using a mortgage, but with two loans. For this, half of the amount is taken in one bank, and the second part in another. The downside is that each banking organization will need to reduce its risks, and it will ask you to leave something as a deposit.
Mortgage or consumer loan?
Of course, each borrower understands that it is best to apply for a mortgage in banks with a good reputation and experience. But you can do without it by issuing a regular consumer loan. For its registration does not need to provide a deposit. Banking organizations usually limit the amount of such loans to half a million rubles. Yes, for the purchase of an apartment in the city this is a small amount, but in order to buy housing in the village, there is enough money.
Mortgage Pros
Each loan has its pros and cons. The pros can be considered that:
- the apartment or house becomes the property of the borrower, and he can register anyone there at will;
- since 2016, the mortgage can be repaid early, and there will be no fines and additional interest;
- the monthly payment is equal to what the borrower would give for renting an apartment, but he is already paying for his own housing;
- there are social projects and programs that facilitate the design of mortgages and reduce payments on it.
Of course, before you take a mortgage, you need to think carefully, but you should not completely discount such a loan. After all, this is an excellent outlet for those who want to have their own housing, but do not have sufficient funds. Moreover, our state supports people who decide to apply for a mortgage.