A roof over your head is what every person needs. But, unfortunately, not everyone can afford it. And some just do not have a certain amount. Then a mortgage comes to the rescue. The minimum period, according to official figures, is one year. But is it really so?
general information
To begin with, I would like to say that practice knows three terms of a mortgage loan: short, medium and long. No standards regarding their duration exist. In this case, everything is determined directly by the bank. There are some organizations that agree that the deadline for returning a mortgage by a client is 12 months. Others insist on 2-3 years.
Indeed, due to the fact that people apply for a mortgage, banks make good money. Due to the payment of interest by customers. And the sums are rather big. After all, housing is now not cheap, and people make out loans accordingly. And banks get good profit from this. And it is more profitable for them that the client pays interest as long as possible.
About conditions
But still there is a possibility that the bank will approve a person of such a service as a short-term mortgage. The minimum term is one year. Do not prematurely rejoice, as the client will expect a lot of nuances.
Take, for example, the service of the most popular financial institution in Russia - Sberbank. Let's say a person looked after an apartment for 5 million rubles. The down payment will be 750 000 thousand rubles. The rate is 15% per annum. Under such conditions, a person can approve a mortgage only if he can pay about 385,000 rubles a month! Moreover, according to the rules, the amount given as a debt should not exceed 40-50% of the client’s income. It turns out that a person should earn about 800 thousand rubles a month. The question arises: do individuals with such income generally need a mortgage? It’s easier to wait and buy housing for cash.
But it is worth returning to the topic. Under such conditions, the overpayment on a mortgage for the year will be approximately 355 thousand rubles. And the full amount paid will be equal to ~ 4.6 million rubles (plus do not forget about the down payment). However, this is one example. Everyone can calculate everything himself, because for this there is a mortgage calculator.
Borrower Requirements
In a nutshell, it is worth telling about which people can be considered potential customers of the bank. Because to get a mortgage you need to meet certain requirements.
Age is the first condition. A person must be at least 21 at the time of treatment. And he can approve a housing loan only if he can repay it before the age of 60.
The seniority is still important. At least one year. And at the last workplace - 6 months. A person is more likely to get a long-term loan if he works for the benefit of the same institution for a long time. This indicates its stability and responsibility. The level of income, by the way, should be confirmed by 2-NDFL certificate. And the more a person has a salary, the better.
Interest and Contributions
Annual rate may vary. Usually from 9% to 17%. It depends on many factors. From the amount of the borrower's salary, the method of confirming income, the size of the down payment, the type of interest rate, and even the loan term. A mortgage for a year, for example, will be more profitable than a loan for 15 years. Here the principle is this: the higher the term, the higher the interest. By the way, the floating rate is 1-2% cheaper. This is because few trust her. After all, the floating percentage is calculated according to a certain formula, which is indicated in the contract. Usually it is tied to rates in the interbank market. According to experts, a floating percentage is most beneficial for people who want to take a long-term loan. So if you plan a mortgage for 10 years, it is worth considering this as an option to save.
And a few words about the down payment. It is required, and usually varies from 10 to 30 percent. If possible, it is best to deposit the maximum amount. Because it’s possible to lower the rate. And if you want the best and most comfortable conditions, then it is better to contact the bank on the card of which a person receives a salary. The potential benefits will help calculate the same mortgage calculator.
Special program
Separate attention I would like to note a military mortgage. Everyone heard about her, but not everyone knows what exactly she is. But the essence is simple. The law on a funded mortgage system to provide housing for the military gives them the opportunity to purchase an apartment much earlier than their service ends.
How is everything going? A military savings account is opened for the military, which is replenished monthly by the state. On average, about 250,000 rubles accumulate per year. 36 months after participating in the program, the military may file a report to obtain a document that will give him the right to receive a targeted housing loan. Then he selects real estate that meets the requirements of the Ministry of Defense of the Russian Federation, an insurance company, a bank and his own will. Then he turns to a financial organization lending to military personnel. Then he opens an account and transfers to it the money previously accumulated during his participation in the program. This will be his down payment.
The maximum loan amount for military personnel is, according to 2015, 2,200,000 rubles. After clarification of all the nuances and verification of documents, a contract is concluded. And then an official certificate is issued to the Vienna, confirming his ownership of the registered property.
Payouts and deadlines
A loan issued to a soldier under the aforementioned program should not be repaid. Payments are made by Federal State Institution Rosvoenipoteka. And the money is taken from the federal budget. Monthly payment is calculated according to a certain principle. It is 1/12 of the amount of the contribution. That is, if a million rubles was collected on the account of a serviceman, then each month about 84 thousand rubles will be paid for it. It turns out pretty profitable.
The minimum term for a military mortgage is 36 months (i.e. three years). The maximum also has its limitations. At the time of redemption, a soldier must not be more than 45 years old.
As practice shows, the program is really profitable. If you believe the statistics of 2 years ago, then a little less than 100 thousand military personnel acquired housing on it. The total amount amounted to 143 billion rubles.
Government support loan
In connection with the worsening situation in the construction market, a social program was developed. Subsidies began to be offered to certain categories of citizens, thanks to which the purchase of housing became more real for them. The most relevant social program is a mortgage designed for young families with state support. The maturity dates are the same as in standard cases. Allowed maximum is 30 years.
Getting a subsidy is not so easy. Before you get on the line, you need to collect documents and check yourself as a potential participant in the program for compliance. Each spouse must have Russian citizenship and be registered in the region of residence for at least 11 years. Everyone's age must fit into the framework from 18 to 35. From the documents you need a marriage certificate and passports. If there are children, then documents confirming their availability. Each child is a plus of 5% of the subsidy. For a family of two partners, the amount allocated is 30% of the cost of housing.
You will also need income statements, personal account statements and a copy of the savings book.
Terms of different banks
It is worthwhile to describe in more detail what conditions are offered to young families by the most well-known financial organizations that provide such services as mortgages. The minimum period is negotiated individually. But the maximum is different for everyone.
So, for example, Sberbank offers a mortgage for 30 years. The possible loan amount is 3,200,000 rubles. Rate - 12% per annum, be sure to pay 20% of the cost of housing.
The Rosselkhozbank also provides services such as a mortgage. The minimum term is from 1 year, the maximum is 30 years. The possible loan amount is 20,000,000 rubles, an initial payment of 10% is required. The annual rate is 14%.
VTB 24 asks for a 20% contribution. Money can be withdrawn from the subsidy certificate. But it is recommended to use it to buy housing in a new building, and get a loan from a bank in order to pay the remaining amount. By the way, VTB 24 allows the use of maternity capital. They can pay off the first installment.
About the benefit
So, enough has been said about how long they give a mortgage and what it takes to get it done. A few words can be said about the most profitable options that housing lending has.
The best way to save money is to buy housing under construction. It is 30% cheaper than the finished one. The savings are obvious. It is best to consider buying an apartment in the house, which is at least a third rebuilt - the likelihood that it will be completed and commissioned as soon as possible is maximum. Another benefit is that a person will receive absolutely clean, new housing. And since the layout of new buildings is modern and optimal, he will be able to choose the most suitable project for him.
And the plus of mortgages is that many banks cooperate with developers (and vice versa). And this means minimum interest and favorable conditions for the client.
Best deadlines
In general, mortgages and loans are not the most profitable solution to a financial problem, since a person has to burden himself with debts. But if there is no other option, there is only one way out - to choose the most convenient and economical conditions.
Visually most profitable seems to be a mortgage for a maximum period. Suppose a person took 2,000,000 loans and every year for 30 years he gives the bank only ~ 20,500 rubles, instead of ~ 45,600, which he would have to say goodbye to, he would get a loan for 5 years. That's only in the case of a maximum period of overpayment of about 5,400,000 p! Given that he occupied only 2 million rubles. But in the case of a 5-year loan, he will overpay only 665,000 rubles. So it’s better to think a hundred times before agreeing to one or another condition.