With the help of a mortgage, citizens can become full owners of residential properties. This is the most common option for buying an apartment in Russia on the security of the acquired or existing property. In case of non-payment (non-execution) of the loan, the mortgaged property is put up for sale, and the proceeds from the sale go to repay the main debt. Today, almost all credit organizations issue mortgages on favorable terms, but you can find out what documents are needed for a mortgage at banks.
In Russia, mortgage programs are supported at the state level and in special mortgage agencies. First, the borrower will need to pass a solvency test at a credit institution. What documents are needed for a mortgage? The main documents are a passport and a certificate confirming income (2 personal income tax). It is also permitted to provide income in the form of a bank. After preliminary selection, the future borrower will require documents that confirm their labor, marital and social status.
What documents are needed for a mortgage in the second stage?
The creditor bank will require copies of the following documents: employment record, tax identification number, insurance certificate, diploma of education, military ID, marriage (divorce) documents, birth certificate and description from the place of permanent work. At the next stage, documents of title for the loan facility, as well as a BTI passport with a technical description of the property are submitted. This is a standard package that Sberbank necessarily requires.
Mortgage: what documents are needed additionally
Each credit institution puts forward its own conditions and a list of documents. The loan manager thoroughly examines the files of the borrower and considers applications on favorable terms for the client. For example, a social mortgage with state subsidies requires highly targeted documents from a person. The exact list can be found in local authorities that deal with these issues.
Military mortgage: what documents are needed to obtain?
The main difference is that the down payment is made from a member’s savings account . Funds are transferred to the account by the federal budget. Mortgage payments are paid by the Ministry of Defense. Every soldier who has served for at least three years can purchase housing under the Accumulative Mortgage System (NIS) program. Initially, an NIS participant provides a military ID, TIN, NIS certificate, income certificate, employment record (copy). You will find out more accurate information and a list of necessary documents at the bank.
What documents are needed for a mortgage
I would like to highlight a standard list of documents required for processing a transaction:
-passport;
-for men - military ID;
-INN;
-pension insurance certificate;
- certificates, diplomas;
- references confirming a constant source of income;
- a copy of the labor, which is certified by the employer;
- birth certificate of children;
The Bank is entitled to require the following documents for a more detailed check:
- Help from the neuropsychiatric clinic;
- title documents for the property (car, cottage, apartment, house, land);
passports of family members.
Before you make a mortgage purchase and sale transaction, weigh the pros and cons, because in Russia the interest rate is not so small, and sometimes you have to pay all your life.