Every modern person dreams of his own housing. Of course, not everyone can afford to earn an apartment or at least a room. In this case, it is much more profitable and more convenient to issue a mortgage. Moscow is popular today, as there are much more opportunities in the capital to realize oneself and, accordingly, to receive the necessary funds to pay off the debt taken from the bank. But some are faced with the fact that they do not know how to get a mortgage in Moscow. Let's consider this question in more detail.
Which bank to choose
Of course, first of all, everyone immediately thinks about Sberbank. Indeed, this financial institution is considered the most reliable and stable in the Russian Federation. This bank has a huge number of different promotions and bonus programs for the population. Therefore, it is worth contacting those who are thinking about how to get a social mortgage for a waiting person in Moscow or are looking for options to get a loan without an initial payment.
However, in the country there are a huge number of other large banks, which can also help in the acquisition of their own housing. When choosing a mortgage, you should first pay attention to the following nuances:
- Commission for issuing a loan. As a rule, it makes up about 1.5% of the total loan amount.
- Insurance. In almost all banks, it is necessary to take out loan insurance. As a rule, in this case, you can get a lower interest rate on overpayments. On average, insurance costs 0.8-2.0%.
- Mortgage term. Different banks provide different conditions, so in this case you need to rely on your own strengths.
How to get a social mortgage in Moscow
In order to significantly reduce the interest rate on overpayments, it is worth paying attention to the programs operating today in almost all large banks. However, not all of them are really accessible. For example, if we are talking about a young family, then in this case you can get a mortgage in Moscow without a down payment.
This program is usually called "Affordable Housing for a Young Family." However, do not take the phrase “no down payment” literally. In this case, we are talking about maternal capital, which is exactly the same as the initial contribution. Thus, the first stage of depositing funds is carried out at the expense of the state, which allocated money for the birth of a child.
Why apartments of the secondary market are not very popular
Of course, this option is quite interesting, since in this case the cost of an apartment or room is much lower. However, in this case, big problems may arise due to the non-compliance of these objects with the requirements of the selected bank.
Very often, financial institutions refuse clients a mortgage on apartments in the secondary market due to several problems. Most often this happens when it comes to a room or shared ownership. In this case, the bank does not want to receive a huge number of problems in the future when one of the property owners decides to sell it.
Also, quite often, rejection is received by customers who have opted for too old and shabby houses that require major repairs. Therefore, when deciding how to get an apartment in a mortgage in Moscow, you should pay attention to this.
Also, the bank is very suspicious of too frequent changes in the ownership of housing. If the apartment is owned by a relative of the borrower, then in this case the bank employee may also suspect fraud. And if one of the owners of the living space is a minor child, a disabled person or a person who is in prison, then you will not be able to get a mortgage.
How to get a mortgage in Moscow: requirements
First of all, it is worth giving preference to apartments that are equipped with a separate entrance, a bathroom, a kitchen and all necessary communications (water, heating, electricity or gas). The Bank will certainly check the availability of the selected housing in the registers of houses subject to demolition or global reconstruction. It will not be superfluous to check the selected object. If its depreciation is more than 50%, then in this case it is worth choosing another housing.
You need to understand that the living space must be in good condition throughout the entire loan term.
Also, talking about how to get a mortgage in Moscow, it is worth considering one useful tip. To guarantee a loan, you must check the documents from the BTI. The selected housing should fully comply with them. If it was an illegal redevelopment, then you need to return everything to its original state as soon as possible. Otherwise, the bank will refuse.
What problems may arise for nonresident and foreign citizens
As a rule, for visitors it is often assumed that the initial loan installment amount is too high, which sometimes amounts to 15 to 20% of the total cost of the property. In addition, most people living outside of Moscow are faced with the fact that it is very difficult for them to obtain documents from the BTI and other authorities.
It is worth considering that most banks prefer to lend only to those customers who are registered and are actually located in the same city as the branch of the financial organization.
At the same time, a mortgage in Moscow can be obtained by foreign citizens. But for this, the borrower must be registered as a tax resident of the Russian Federation.
If the borrower already issued loans some time ago, but did not repay them on time, then in this case he will not receive a new loan. In addition, it must be borne in mind that for the successful processing of this loan is necessary to officially work. If a client works under a temporary agreement or is a freelancer at all, then in this case he is considered unemployed.
How to get a nonresident citizen to get a mortgage
In this case, experts recommend indicating additional sources of regular income. For example, if the client has the opportunity to receive rent, alimony or rent from third parties. At the same time, you need to be prepared for the fact that you will need to provide an official lease agreement to confirm the information. In addition, it is worth paying attention that most often banks issue loans to those citizens who have lived in the capital for at least 6 months. Therefore, saying how to get a mortgage in Moscow from nonresident, it is worth thinking about how to wait six months and only then apply for cash. To confirm your place of residence, it is enough to provide receipts for utilities.
What documents are needed for registration of a non-resident mortgage
The list of required documents may vary depending on the particular banking organization and loan conditions. However, as a rule, the standard package includes an identity card, a certificate confirming the solvency of the client (in the form of 2-NDFL), a work book, a marriage certificate and the birth of children.
It is also recommended to confirm the additional income and ownership of other property and other things that may be included as collateral. If the documents are in order and the bank is ready to provide the requested amount of money, then in this case the borrower will have 3 months to find suitable housing that will meet all the requirements of the organization’s finances.
Conclusion
Knowing all the intricacies of how to get a mortgage in Moscow, you can develop a strategy for obtaining a loan. First of all, it is worth considering your plans for the future, for example, having children or the possibility of living in the capital for more than six months. And you also need to be careful when choosing an apartment, as this is a fundamental point that you pay attention to when issuing a loan. Based on these recommendations, obtaining a loan is more likely to be successful and profitable.