Very often, banks tempt people with favorable loan terms, when you can get your own home very quickly. At the same time, consultants are modestly silent about what a mortgage is, what are its features, and what is the risk of losing both housing and invested money. Before taking a loan, it is not superfluous to first study the conditions mortgage loans at several financial institutions.
The word "mortgage" is borrowed from the Greeks, in translation it means "pledge". Even studying the offers of banks, not all people are guided by how a mortgage works. When making a decision on the issuance of money, some banks also take into account the total income of the family, considering the husband or wife as co-borrowers. The mortgage scheme is very simple:
Often people take loans to buy an apartment, and banks are willing to meet them. This is one of the most common banking services- Mortgage loan for housing. What's so enticing about residential mortgage? The bank issues an apartment in the property immediately, and not when the entire amount is paid. If we are talking about housing under a mortgage, then it is worthwhile to carefully calculate the following points in advance:
When deciding whether to allocate a loan or not, the bank takes into account whether the client will be able to give the required amount every month, therefore the salary plays a paramount role, only official income is taken into account. Some financial institutions take into account additional income, which increases the borrower's chances, but not all clients agree to advertise this amount.
In many countries, the state is meeting the needs of families who need housing; appropriate projects have been developed, and mortgages have also been taken into account. What is a mortgage under social programs and who is eligible:
The state allows such people to take a loan on preferential terms, which are provided by the social mortgage. The main decision remains with the bank, if the family does not have a stable income that will allow you to repay the loan, then the financial institution has the right to refuse. AT social mortgage also includes programs for military and young families, for them the following conditions for granting a mortgage are provided:
Specialists have several popular types of mortgages:
Mortgages for secondary housing - the practice of many banks, rates - from 8 to 15%. There is different types mortgage lending, the difference is only in the installment: from 10 to 50%. Lenders carefully study both the subject of collateral and financial condition borrower and may be refused if:
Banks are very careful technical condition buildings when a mortgage is issued to purchase a home. Therefore, the chances that they will give money for an apartment in a communal apartment, hotel type or in a hostel are extremely small. The depreciation of the house cannot exceed 55 years. The layout of the apartment must match the BTI drawings. Therefore, if there was a redevelopment, the bank has the right to order to legalize the changes made.
Profitable mortgage stays in direct proportion to the average interest rate of deposits. It is believed that favorable mortgage conditions are provided if the deposit rate decreases, because the interest on payments also decreases. But most banks take into account all the points, so the contract contains the largest figure, above which the interest rate cannot rise. With luck, the bank may issue a floating mortgage interest rate, but not everyone is so lucky and not always.
The advantage of a mortgage is that housing can be obtained immediately. You can also use such a form of state support as compensation for interest on a mortgage. Everyone has the right to tax property deduction, which reimburses the funds and compensates for the interest. Once a month amount income tax is returned from the client's salary.
To get this opportunity, you must annually submit to the tax service:
The advantages of such a loan are obvious, but there are also disadvantages, the most tangible being an overpayment on a mortgage. Given that the loan is issued for several years, the amount accumulates is very tangible. There are also such negative sides:
Often people hesitate: what more profitable loan or mortgage? The answer is very simple: a loan is more beneficial for the buyer, and a mortgage is more beneficial for the bank. A mortgage loan imposes restrictions on the use of housing, in violation of which the lender can terminate the contract and demand payment of the entire debt. And with a loan without collateral, you can sell housing and pay off the lender, it is not prohibited to dispose of property. Therefore, the answer is obvious, but the client's decision depends on many factors.
Given the stringent requirements of mortgages, many clients hesitate between a mortgage and a loan for a long time. And more often they make a choice in favor of the latter. The main thing is to find guarantors, the income of at least one of which must be no lower than that of the borrower. What are the benefits of a home mortgage?
To apply for a mortgage, you need to prepare the necessary package of documents. The lender may also require additional documents for the mortgage, photocopies of family members' passports. Co-borrowers and guarantors also submit photocopies of documents. After all, what is a mortgage? This is a long term secured loan. Therefore, you need to provide an application for a mortgage, a bank questionnaire and a photocopy of:
Sometimes people take out a loan based on a large income that will allow you to repay the loan earlier. Banks allow you to pay off the mortgage using one of the systems.
To apply for early repayment of a mortgage, you need to write an application to a financial institution 30 days in advance. It is worth exploring the points about insurance premiums, since the client has the right to reimburse the amount of paid, but not used insurance. This may apply to both credit obligations and property. After a full settlement with the bank, you need to take a certificate of full fulfillment of obligations.
Few people know that the client has a chance to return the interest on the mortgage if he takes advantage of such a benefit as “ tax deduction". The main thing is to indicate that the purpose of the mortgage is to buy an apartment. Then the issue with the subsequent return of interest is solved easily. You may only use this opportunity once. In what cases is the benefit not available?
Documents must be submitted to tax office, the decision to return the money is made within a month. What should be the main papers?
Mortgage - this word has been around for decades, but many people still do not know for sure what is a mortgage and how it works.
A mortgage is a specific form of collateral where immovable property owned by the debtor is mortgaged. The terms of the mortgage pledge are that if the debtor fails to pay the amounts specified in the loan agreement, the creditor has the right to sell the pledged property and receive money for this to repay credit debt. In other words, a mortgage is a pledge of any real estate.
It is necessary to distinguish between the concept of "mortgage" and " mortgage credit lending". In mortgage lending, the bank acts as a lender, it lends, that is, gives money to the debtor for the purchase of real estate, at the same time, this real estate is secured, that is, under a mortgage as a guarantee of repayment of the debt. Among the immovable property that can act as a pledge (mortgage) may be land plots, residential buildings, apartments, cottages, garden houses and any buildings. The list of such objects is determined by the relevant article of the Mortgage Law.
wondering what is home mortgage and what it gives, it is necessary to turn to the semantic formulation of the concept of "mortgage". After all, housing is a general term for real estate. Mortgage for housing makes it possible to purchase a residential building, an apartment, a house, to become the owner of the acquired housing on the terms of lending and collateral of this property. You live in a mortgaged apartment, enjoy all the benefits that living in a purchased apartment or house gives, but for many years you pay a certain amount to the creditor bank, namely the loan body and interest. Provided that at some stage you will not be able to pay the loan debt, regardless of whether how much mortgage payment taking into account interest, you will still lose your housing, since the bank has the right to sell your housing on account of repayment credit debt. This is the risk of mortgage lending.
However, it is a mortgage that is the safest and most reliable way to purchase an apartment or any other housing.
What is a home mortgage? Receiving mortgage you transfer funds directly to the seller of housing for a real apartment that you can see, examine. While contributions to share building, contributions to the building cooperative provide for payment Money to third parties for an apartment or housing construction that does not yet exist. In addition, before making a purchase and sale transaction on residential real estate, the bank, together with the insurance company, carefully check the legal security of the transaction, because the bank risks its own money and its own license, which costs a lot of money. Therefore, when buying a home through mortgage lending, you are not left alone with the seller, you have guaranteed support in the face of credit bank. That, in fact, in general, what is a mortgage.
Interest rate indicates how much mortgage interest you will have to pay from the loan amount based on a certain calendar period - a month, a year. Suppose a bank has provided you with a loan in the amount of 2 million rubles at an interest rate of 10% per annum. This means that in addition to the amount of debt in the amount of 2 million rubles, you will need to pay 10% of the loan amount per year.
The fixed interest rate is set once and does not change regardless of the circumstances. With such a rate, it is easier to plan loan payments.
A floating interest rate indicates that the bank can reconsider how much mortgage interest the debtor will pay. The loan agreement describes what indicators can affect the change in the interest rate, and this means that over the years the loan is repaid, the bank has the right to change the interest rate in accordance with certain rules.
The differences between these types of rates are that in the first case, the interest is charged to the bank and paid at the end, simultaneously with the main body of the loan. And in the second case, the interest is calculated and paid at the beginning, at the time of the loan, that is, in advance.
A simple example: you take out a loan for 5,000 rubles, at 10%. If we consider the decursive rate method, then the bank should receive 5,500 rubles at the end of the loan term. And when applying for a loan using an antisipative interest rate, at the beginning of the loan, the bank withholds the interest due in the amount of 500 rubles and gives the borrower 4,500 rubles. The bank's income, at the same time, is nominally the same, but differs in the time of income generation.
Paying attention to how much interest they give a mortgage, it is also important to be familiar with such concepts of interest rates as:
The real interest rate is different from par topics that it is calculated minus the expected amount of inflation. All these and other points must be clarified when drawing up a loan agreement in order to understand how to pay a mortgage.
Many people ask this question: what does it mean before registering a mortgage and after. It's about interest rates. As long as the housing ownership agreement is not registered with the Fed, the bank cannot issue a mortgage agreement on this housing, and, accordingly, risks more. The bank's risks are included in the interest rate, namely: before registration with the FRS, the interest rate is higher, and after the presentation of documents from the registration chamber, it decreases.
Despite enough high stakes mortgage lending, who want to get a loan with which you can buy new apartment or a house, quite a lot. However, not all banks issue such loans, even under the mortgage of the purchased property. Of course, first of all, citizens are interested in who can get a mortgage.
A mortgage loan can be obtained by Russian citizens who have permanent registration (propiska) in the country. However, recently banks are beginning to practice issuing loans to non-residents.
Analyzing the above requirements for the borrower, you can understand the reasons why mortgages are denied. Despite the fact that many consider a mortgage an unbearable burden, nevertheless, people who are determined to buy an apartment are extremely unpleasant when they are denied, because a mortgage is one of the few guaranteed ways to equip their own housing.
The reasons for refusal of a mortgage can be the following:
The above reasons are the main ones. Why the mortgage is denied, the bank usually does not disclose. AT last years banks have become even more prudent and very carefully check the potential borrower. After all, the loan needs to be repaid for decades.
If, after submitting the application, the bank has made a positive decision regarding the issuance of a mortgage loan to you, then you will be interested in the question of what to do after the approval of the mortgage.
After obtaining prior approval from the bank, you can safely proceed to the direct search for housing. This most troublesome procedure should not take you too long, because if this procedure is unreasonably delayed, then it is possible that you will need to collect some certificates again. Ask the bank about the terms of the permit agreement. Further, after the apartment is found, it will be necessary to collect certain documents.
When wondering what you need to get a mortgage, you can immediately count on the fact that you will have to collect a fairly impressive package of documents:
Before making such a serious deal as a mortgage loan, which must be paid for quite a long time, each borrower understands that a lot can change over the years in his life, including the fact of divorce. And by this it is quite understandable why people are interested in how the mortgage is divided during a divorce.
The word "mortgage" today is familiar to many citizens. Most associate it only with the purchase of real estate. This is partly true, because a mortgage is considered one of the most profitable ways to purchase housing in Russia. However, the very concept of "mortgage" has a broader meaning than a loan for the purchase of real estate.
A mortgage is a targeted loan. It is issued for a large amount, so most often it is issued when it is necessary to purchase expensive goods:
A large loan amount also implies a fairly long repayment period. Thus, the mortgage refers to long-term credit obligations. And there is another nuance that is typical for mortgages - the presence of collateral. A large amount cannot be issued to an individual under " honestly". The bank needs confirmation of payment of the loan. The income of the borrower cannot become such a guarantor, since the client may lose the source of income, as a result of which the bank will suffer losses.
Therefore, mortgages are issued only as collateral, which is usually real estate.
Mortgage on housing does not mean that the consumer necessarily plans to purchase an apartment or a country house. In this case, "housing" is a form of collateral. That is, a client can buy a car, but puts up an apartment as collateral for it. Naturally, with this type of treatment, the client must already own suitable housing. Please note that the bank may refuse to provide a mortgage if the mortgaged apartment is illiquid or has certain encumbrances.
In the case of a mortgage on housing, non-payment of the debt to the bank leads to the fact that the borrower loses the collateral apartment. In this case, the original purchase will remain in his property. There is a small nuance. If the bank's expenses exceed the value of the collateralized apartment, not only the pre-arranged collateral, but also other client's real estate will go under the hammer. Such real estate can also be a car or other property that has just been acquired on a mortgage by a court decision.
A mortgage loan or loan assumes that the acquired property will act as collateral. At the time of contacting the bank, the client may own other real estate, but this is not a prerequisite. In fact, a citizen can apply to a bank for a mortgage loan, even if he has almost nothing, except for the amount for the down payment and a permanent income.
The Bank considers such clients as potential owners. One of the stages of obtaining a mortgage loan is the acquisition of housing and its registration for the borrower. A citizen can dispose of real estate at his own discretion, since it belongs to him. However, if it is impossible to repay the debt to the bank, the ownership of the apartment passes to the bank. He, in turn, sells this housing to recoup his own expenses. Please note that in this case, the bank returns not only the funds spent for issuing a mortgage, but also the interest that the borrower had to pay.
The main difference between a loan and a mortgage is collateral. Acts as collateral acquired property or already existing - does not play a role. It also makes no difference what purpose the funds will be used for. For example, despite offers for mortgages, banks do not refuse offers with targeted loans for housing.
The presence of collateral for the bank is a kind of guarantor of payments, so customers receive certain benefits. If we compare the conditions for a conventional loan and a mortgage, then the mortgage looks much more attractive. It's not just about the possible amount and timing of payments. The main advantage is the lower interest rate. By 2018, the mortgage rate dropped to 9.5% per annum. This is the average of all the largest banks Russia. And here is the rate target loan on housing starts in the region of 12% per annum. Considering that the client has been paying for several years, the difference in the interest rate is quite noticeable.
Another difference Russian market mortgage lending is state support, thanks to which mortgage rates can be reduced even more.
Mortgages in Russia appeared relatively recently, so this type of business has not yet revealed all its capabilities. He works in several stages:
Further interactions either lead to the fact that the client safely pays off the mortgage. In this case, the borrower pays not only the amount that the bank contributed, but also interest for its use. After the last payment, the relationship between the bank and the payer ends.
In case of an unsuccessful scenario, the bank takes the property of the borrower, which was indicated in the contract as collateral. By selling this property, the bank must cover the amount spent on its purchase and interest on the use of these funds. The mortgage cancellation process is carried out in several stages. Very often, the bank tries to help a client who, due to financial difficulties, cannot make regular payments. Mortgage refinancing or payment freezes are acceptable here.
In the event that incentive measures have not borne fruit or the client has voluntarily decided to terminate the mortgage agreement, the bank puts the pledge up for auction. It is popularly believed that the bank takes the collateral, but credit organizations do not aim to obtain property rights. The main task is to sell the collateral and repay the debt at the expense of the proceeds.
In this case, the borrower can receive the difference between the price of the collateral and the mortgage debt.
A mortgage loan is the provision of assistance to citizens in the purchase of new housing or other expensive goods. Today, mortgages are the most advantageous offer in the field of real estate acquisition, if the client does not have enough funds to purchase. Depending on the type of housing, it is necessary to have 50-15% of the property value in order to acquire a new apartment or house.
For many citizens, a mortgage loan is the only way to get their own housing, because very little is needed to receive such assistance:
This method of lending is convenient both for the borrower, as it offers favorable conditions, and for the lender, as it reduces the risk of loan default to a minimum.
The very word "mortgage" was first used in the VI century BC Ancient Greece although it had a completely different meaning. Mortgage was a pole or post that was installed on the land of a person who did not pay his debt. An inscription was hung on a pole stating that this land plot will be transferred to the creditor. Over time, the procedure for driving a pillar into the borrower's land was abolished, but the concept remained and grew into the concept of secured lending. Although the term "mortgage" was first used in ancient Egypt, the very procedure for transferring land as collateral when obtaining a loan was also carried out in ancient Egypt.
The history of the term "mortgage" has very deep roots, but in Russia this practice appeared relatively recently. On the legislative level such an opportunity appeared for citizens only in the late 90s of the last century. It is worth noting that the practice of mortgage lending in Russia quickly took root, but in other CIS countries, mortgage lending operates with varying success or is not widely used.
In world practice, it stands out 3 types of mortgage agreements:
Mortgage by agreement of the parties includes any agreements between individuals, which stipulate the possibility of alienation of property in case of non-fulfillment of obligations. The subject of the transaction can be not only a cash loan, but also other conditions.
Mortgages by law include lending to individuals by banking organizations. Although in this case, both parties also initially agree on the subject of the pledge. This variety is generally very similar to a judicial mortgage. However, the latter is a consequence of non-fulfillment of obligations that did not imply the presence of collateral. For example, a bank lends to a citizen in an unsecured form, but the borrower does not repay the funds. The bank may apply to the court, according to which the non-payer's apartment will be alienated in favor of the bank.
In Russia, the types of mortgage lending can also be understood as offers from banks:
These types of loans differ in conditions that can be influenced by the banking organization itself.
For the first time the concept of mortgage in legislative framework Russia was used in 1998 in federal law No. 102 "On mortgage". This law is still in force, regulating the relationship between the lender and the borrower. With the spill of the mortgage program, the necessary information was entered into Housing Code and the Land Code of the Russian Federation, since mortgages are associated not only with the relationship between the bank and the borrower, but also with other organizations that are involved in the acquisition of real estate.
Since a mortgage consists of several stages, several auxiliary laws can be distinguished that work at each of the stages. This is Law No. 135 “On Valuation Activities”, since housing must receive a certificate indicating market value before entering into a mortgage agreement. As well as Law No. 218 “On State Registration of Real Estate”, since the acquired housing after alienation from the seller must be recorded on the new owner, which is the borrower.
Various state programs aimed at popularizing mortgages and providing benefits for buying housing for various categories of citizens can act as temporary rules for mortgage lending.
Mortgage lending is positioned as the most profitable way buying a home with insufficient funds. In many cases, this is indeed true, because a mortgage is a loan with a lower interest rate and the ability to stretch the payment over decades. However, there may be hidden pitfalls behind the high-profile advertising of some organizations that want to attract new customers.
The mortgage remains a loan, which means that the bank will need information about income. Assurances that you can get a mortgage without a certificate of employment indicate that the interest rate will be above average. In many banks there is a concept of benefits, for example, for existing customers. However, if we remove all the conditions under which the bank is guaranteed to lower the interest rate, the final percentage may be much higher than the citizen assumes. In addition, a mortgage if not paid will lead to the loss of housing, as well as the money spent on paying off the loan. Such operations are considered to be the most risky during the period of economic instability.
What is a mortgage and what are its main advantages? How to calculate mortgage payments by interest rate (online)? Which banks offer the best mortgage programs in Moscow?
Hello, dear readers of the HeatherBober business magazine! With you Denis Kuderin.
The topic of the new publication is Mortgage. The article will make detailed overview of this concept and all the advantages, types and conditions of mortgage lending are considered.
The material will be useful to everyone who is going to buy a home on a mortgage (no matter - in the near or distant future), as well as those who want to improve their financial literacy.
And now - about everything in order!
A mortgage is a type of collateral that serves as insurance for a lender lending money. The collateral is the property acquired by the borrower - as a rule, this is real estate (apartment, house, cottage, share in the apartment).
The property itself remains the property of the buyer, but the creditor, in case of violation of debt obligations, has the right to sue it in his favor.
The owner does not have the right to dispose of housing (sell, donate, exchange) without the permission of the lender for such operations.
Mortgage Agencies and Centers, which are available in every major city, provide professional assistance in choosing a mortgage.
There are several options for classifying mortgages. Two fundamentally different types– a mortgage on the acquired property and a mortgage on the housing already owned.
Another difference criterion concerns the type of housing purchased.
In particular, on a mortgage you can purchase:
Some banks issue mortgages for housing construction on their own or with the involvement of contractors.
Competition in the environment of credit institutions leads to an extraordinary variety of credit programs. Each financial company offers "exclusive" products, but the differences between mortgage offerings are rarely fundamental.
A little more about the truly unique mortgage options.
The purpose of such a mortgage is to provide full-fledged housing for military personnel. Russian Federation. The project has no analogues in world practice. Officers, midshipmen and privates of the Russian army, serving under a contract, can become its participants.
The military enters the Cumulative Mortgage System and after three years of membership, they can apply for the issuance of funds for a mortgage loan. Then they go to the bank and draw up a loan agreement.
The initial contribution is paid by the Russian Ministry of Defense, the same structure makes regular payments on the loan. Thus, military personnel do not invest in real estate at all.
True, there is a limitation on the cost of purchased housing - this year the price of an apartment should not exceed 2.4 million rubles.
Read on our website detailed material on the topic "" and "".
Another unique project is a mortgage with state support. The program has been running since 2015 and allows you to use preferential terms to everyone, regardless of their social status.
The purpose of the program is to support construction organizations and revive economic situation in the country during a protracted crisis. The state partially pays the mortgage loan, allowing borrowers to draw up contracts with a lower interest rate.
Choosing a mortgage program is an event that should be approached with the utmost responsibility. To really take out a loan favorable conditions some preliminary preparation should be carried out.
Banking offers are a product of marketing, so you should not unconditionally believe all the promises and figures. You should find out in advance the real terms of lending, and not just those voiced by financial companies.
More details on this topic in the articles "", "" and "".
This is the first thing a borrower looks at when choosing credit program. Interest rates in Russian banks are currently quite high - 12-15%. It is believed that Russia has the highest overpayments on loans, but this is partly due to the level of inflation in the country.
In order for the rate to be “civilized” 7-9%, it is necessary to achieve stability in the economy for at least 10-15 years. Only then will credit institutions be able to reduce annual interest.
Example
You have decided to take out a mortgage on an apartment worth 3 million rubles. for a period of 20 years with an interest rate of 13%. By entering the data into the mortgage calculator, we get 35,147 rubles of monthly payments and an overpayment on the loan of about 5.4 million rubles.
Statistics show that most loan recipients seek to pay off their debt ahead of schedule. Often a loan taken for 20 years is repaid in 7-10 years or even earlier.
Not everyone credit companies delighted with the early payment of the debt. The earlier the client repays the loan amount, the less profit the bank receives.
For this reason, financial institutions try to avoid unscheduled contributions. They may generally prohibit making payments in excess of the prescribed period for a certain period (this is called a moratorium on early repayment).
Another option is to complicate the registration procedure early repayment and charging an additional fee for it.
When choosing a program, you should study all these points as detailed as possible.
Clients are always aware of what the interest rate of their mortgage is, but not everyone knows what fees are charged for regular maintenance banking transactions. Meanwhile, these amounts often add up to tens or even hundreds of thousands of rubles every year.
Example
The bank offers a profitable (at first glance) loan for 13% per annum with a quick execution of the contract - what is called "under two documents". The borrower agrees to all the conditions for issuing a mortgage, including - with a commission of 0.4% per month.
“What is 0.4% is nonsense” - this is approximately the thought that flashes through the mind of the recipient of the loan when he signs the contract. However, in a year, the indicator of 0.4 turns into 4.8%. It is this number that should be added to 13% per annum. Thus, the interest rate will already be 17.8%, and this is completely different money.
There are also one-time commissions for processing the transaction. It is also useful to know about their sizes in advance.
Mortgage insurance is required by law. However, banks, in addition to the clause provided for by law, include other types of insurance in the contract - the life of the borrower, his ability to work and health.
All types of insurance are paid and are issued at the expense of the recipient of the loan. Often, regular payments amount to up to 1% per annum of the loan amount, and this is a considerable amount over the years of the mortgage.
Clients have the right to refuse voluntary insurance, but in this case, banks may increase the interest rate. All these details require prior approval.
It is worthwhile to find out in advance under what conditions the bank has the right to terminate the contract and demand the return of the deposit.
Usually banks take such a step after delaying payments more than 3 times a year, but it happens that even a one-time delay is already a reason for serious repression by a credit institution.
The time when banks handed out mortgage loans right and left to almost everyone who wanted it is irretrievably gone. Now, in order to get a mortgage, citizens need to meet the numerous requirements and conditions of credit companies.
The main ones are:
In some credit institutions required medical certificates confirming mental health, and evidence of residence in the city of obtaining a loan for a certain period.
Watch an informative video about mortgages from an expert.
It is in the interests of each borrower to make payments clearly on time and in the appropriate amount. But… man proposes, but God disposes. Or, to put it another way, circumstances are often not in favor of the borrower.
Money that should go to a bank account suddenly becomes urgently needed elsewhere. Or they simply do not exist - a person was delayed salary or even fired. It was not possible to borrow money from relatives or friends to pay the monthly installment, the result is a delay.
If such actions are one-time and are not regular, the creditor simply applies sanctions - accrues fines and penalties.
If violations of the terms of the contract by the borrower are repeated, the bank has the right to go to court and sue the collateral. It does not matter if the person (family) has another apartment.
True, credit companies take such a step only in extreme situations, when all other options for influencing the debtor have already been exhausted. This option is not very beneficial for themselves. financial institutions because the sale of housing does not cover all costs.
Borrowers who know that they will not be able to repay the next payment should notify the bank in advance and discuss the terms of loan restructuring with managers. This will help to achieve a reduction in the size of payments when extending the term or to qualify for a credit holiday.
Dozens offer mortgage loans in the capital financial companies. Choosing among them an organization with really worthy conditions is not an easy task.
The table shows the 5 most attractive for 2016 mortgage programs Moscow and the region:
| № | Bank | The name of the program | Peculiarities | Interest rate |
| 1 | Sberbank | Mortgage with state support | The program is valid until January 1, 2017 | 12% |
| 2 | VTB 24 | New buildings with state support | New apartments in prestigious districts of the capital | 11,9% |
| 3 | Credit Bank of Moscow | Mortgages in the secondary market | Apartments in all districts of Moscow | 12,9% |
| 4 | RosEvroBank | Mortgage Apartment | Loan processing within 7 days | 11,45% |
| 5 | Tinkoff bank | New building with state support | Ability to apply for a loan online | 10,9% |
Mortgage is the use of money borrowed from a bank to purchase residential or non-residential real estate. The client comes to any branch of the selected bank with all necessary documents and when the loan is approved, the required amount is provided.
Any real estate can become the subject of a mortgage in Russia, however The following objects should be singled out in the main list of lending items:
It is worth noting that in most cases you take out a mortgage to buy your own housing - an apartment or a private house.
There are two sides to a mortgage loan agreement:
There are several requirements for both parties that must be met:
There are two main understandings of mortgage lending. For some people, a mortgage is an easy way to make a profitable purchase of a home with convenient way monthly payment. According to others - debt hole from which it is almost impossible to get out. Both of these definitions have real grounds.
Combining all the pros and cons, we can say that a mortgage can be either a good choice or not. It all depends on the choice banking organization and lending programs that directly affect the term of the loan and the interest rate.
Knowing the forms of mortgage lending can significantly reduce risks, as well as simplify registration. There are three main forms:
It is advisable to study all the details and features of the form of lending before signing the contract - in this case, further difficulties can be avoided.
Some banks allow you to use the real estate exchange scheme, and also allow you to take consumer credit and cover the down payment with this amount.
Thus, mortgage lending is not only a useful tool to help solve the housing problem, but also a complex and intricate process with many subtleties. Based on this, you should carefully prepare both for the very registration of the mortgage, and for its further repayment.
For more information, watch the video:
