How to take (issue) a mortgage for an apartment, house, land, and where it is better to get a mortgage loan: TOP-5 banks + professional assistance in obtaining a mortgage

Good afternoon, dear readers of Rich Pro magazine! In this article we will tell how and where can I take (get) a mortgage for an apartment, house or land, in which bank it is better to obtain a mortgage loan, and also who can provide professional assistance in obtaining a mortgage.

After reading the article you will learn:

• What is the procedure for obtaining a mortgage loan;
• What documents are needed to take a mortgage on an apartment, private house or other real estate;
• What are the features of land mortgages;
• How and where it is better to apply for a mortgage online;
• Where can I go for help in obtaining a mortgage with a bad credit history.

At the end of the publication, traditionally given answers to questions that most often arise when registering a mortgage.

This article will be useful to everyone - those who have already decided to buy an apartment or other housing on credit, and those who still doubt.

Mortgage registration- the process is long. He does not accept haste and rash decisions. Therefore, it is important to read this article long before submitting a loan application in order to have time to think it over carefully. In general, do not waste time, start reading right now.

About how to properly apply for and obtain a mortgage loan, where (in which bank) it is better to take a mortgage for an apartment or house with a land plot, and also who can help in obtaining a mortgage - read in this issue

1. The procedure for providing a mortgage housing loan in banks

The state exercises control over the procedure for granting mortgages through the publication of legislative acts. In the Russian Federation, the fundamental regulatory act through which housing lending is carried out is the federal law “About the mortgage”developed back in 1998 year.

Regulation restricts the freedom of credit institutions in the course of operations with a mortgage, as well as an encumbrance. The actions of creditors in this area should be carried out within the framework of the law.

But banks are given the freedom to choose borrowers. They independently decide who to issue a mortgage to and who to refuse.

In this regard, a number of requirements are imposed on applicants:

1. Age. Traditionally, a mortgage is issued to borrowers who have turned 21 year. This also takes into account the age of the borrower at the time of full repayment of the mortgage loan in accordance with the schedule.
2. Income level.In determining the maximum possible monthly payment, banks evaluate total family income. It is important that it be more than the planned payment of at least 2 times.
3. Stable employment. Ideally, a potential borrower should work for a large well-known company. Caution lenders are those applicants who work for individual entrepreneurs.
4. Citizenship. Most of the mortgage programs of large banks are designed for citizens of the Russian Federation.

The procedure for granting a mortgage is characterized not only by the requirements for the borrower, but also by the main parameters of this type of lending, which are reflected in the loan agreement.

The most important indicators of a mortgage are:

• Rate. The average percentage in Russian banks is 12%. It is determined by various factors - the presence of state support, attribution to certain categories of citizens.
• Loan term. Most often it is in the range from 60 before 360 months. Much less often, the term may be longer.
• Maximum amountwhich can be issued. In Russia, it is in the range1 000 000 - 20 000 000 rubles.
• Fines. Before signing a mortgage agreement, it is necessary to find out under what conditions and to what extent penalties are charged. It is important to realize that sometimes under the terms of the contract, even for one day of delay, you will have to pay a fairly substantial fine.

In the context of the ongoing economic crisis, the number of residential real estate acquired through mortgages is gradually decreasing. In this regard, credit organizations are forced to fight for each client. For this, you have to revise the conditions of the mortgage. The result was that in past year, there have been trends towards lower mortgage rates.

2. What you need to know before you take a mortgage

Most residents of Russia can not afford to buy residential real estate for cash. As a result, the situation is such that for many, a mortgage loan is the only way to avoid long-term savings and move to your own apartment.

Statistics show that more than 50% real estate sold in Russia is redeemed at credit. At the same time, not all borrowers have enough knowledge about mortgages. Often this causes a predicament.

1) The essence of mortgage lending

First of all, it should be understood that in the modern financial world they call mortgage.

Mortgage - type of targeted lending for the purchase by a borrower of residential real estate, which remains in the mortgage of the bank.

In the case of acquiring housing through a mortgage, the borrower acts as the owner of the property, but has no right to dispose of it at its discretion.

If the borrower stops making monthly payments before the full repayment of obligations under the mortgage agreement, the credit institution has the right to apply to it penalties. Moreover, in case of violation of the terms of the loan agreement, the bank has the right to take a pledged item through the court, that is, residential real estate.

It should be understood that problems with a mortgage can arise not only in connection with the delay in monthly payments.

Non-fulfillment of obligations taken also include:

• violation of the terms of the insurance contract;
• transfer of the property to a third party;
• violation of housing operation rules;
• unauthorized changes in technical specifications (layout);
• damage to real estate.

Important make a choice lender and mortgage program. Today in Russia you can apply for such a loan in almost any large bank. It should be borne in mind that in Russia the average percentage on mortgage loans is 13%. This is much higher than in most developed countries.

There are several important parameters of a mortgage loan:

• subject of pledge;
• loan term;
• amount.

Each of them should be decided in advance, before submitting an application.

So that the mortgage does not become hard labor, you need to be psychologically prepared for it. Ideally, a decision on its design should be made at the family council. It should be understood that for a very long time (average 5 - 30 years) will have to pay not only the cost of housing, but also additional interest.

It should be mentally prepared for the fact that a substantial part of the family budget will be spent on monthly mortgage payments. And this situation will persist for more than a dozen years. Therefore, the family budget will have to be planned for a long period.

It’s not out of place to get a mortgage specify the amount total overpayment. You can do this using loan calculator or by contacting loan specialist.

Overpayment represents the difference between the price of real estate set by the seller and the final amount that will be paid by the borrower to fully repay the mortgage and free housing from encumbrance.

Given that mortgage rates today are quite high, and the loan term is several tens of years, the size of the overpayment can be quite substantial. Often an apartment bought in a mortgage costs 2 times expensivethan it originally cost.

Note. Some are scared by the high level of overpayments. Others, dividing it by the loan term, consider the resulting amount an acceptable fee for the possibility of living in their own apartment.

You can often hear the opinion that existing mortgage rates are predatory. But do not forget that existing in Russia inflation rate more than average percent. At the same time, banks still have to secure a profit and cover possible risks.

In any case, each borrower should evaluate the amount of overpayments in advance. In this case, he will know what he should prepare for, and when he receives a mortgage contract, this figure will not be an unpleasant surprise.

Another important task of a potential borrower is to determining income, which is necessary for obtaining a mortgage loan. It is important to know that the ideal ratio is when the monthly payment does not exceed 40% of income. In this case, you can take into account all the regular documented sources, both the borrower himself and the co-borrowers attracted by him.

2) Mortgage loan conditions

Important parameters of a mortgage loan are its conditions. Despite the fact that each lender is developing their own loan programs, a number of the most important conditions characteristic of any loan can be identified.

Basic conditions for obtaining a mortgage housing loan

1. Borrower age

Most often, a mortgage can be obtained by citizens who have reached the age of 21 year. Maximum age depends on the credit institution. It is defined as the sum of the current age of the borrower and the estimated loan term. Usually the upper limit of this indicator is the retirement age increased by 3 - 5 years.

The leading position in the upper age limit is Sberbank. Here, the maximum age at the time the mortgage ends is 75 years.

2. Solvency

The borrower's solvency ratio is crucial when considering a mortgage loan application.

In this case, the following parameters are mandatory taken into account:

• amount of monthly income;
• profession, as well as position;
• amount of income of co-borrowers;
• credit history.

It is on the level of solvency that the maximum possible monthly payment. And they depend on this indicator the size, as well as term mortgage loan.

3. Type of employment

Most banks trust civil servantswho receive a fixed salary. Such employment is characterized by a high degree of stability. Also tacitly welcome higher education diploma.

Oddly enough, but the main income from own businessforces banks to carry the customer to high risk borrowers. The explanation is very simple - the modern economy does not guarantee a stable business income. Even profitable activities can become unprofitable at any time.

4. Benefits

Another essential condition for a mortgage loan is the availability of state benefits.

Subsidies are guaranteed for certain categories of citizens:

• young families (spouses must not exceed 35 years) that were included in the relevant program;
• families in which a second child was born are entitled to maternal capital;
• military personnel.

The first two categories of citizens can rely on state assistance as part of the payment of the down payment on a mortgage or the repayment of part of the debt under the current agreement.

The military can expect to pay for them a mortgage in the amount of not more 2,4 million rubles. Read more about the military mortgage in one of our articles.

5 stages of obtaining a mortgage loan

3. How to get a mortgage loan - 5 main stages of obtaining a mortgage

In many ways, the actions taken when obtaining a mortgage are determined by the credit institution in which it is registered. Every bank independently is developing lending termsforms package of documentssets borrower requirements. Moreover, credit organizations themselves decide how long they will consider the submitted application.

Note! Some banks promise to issue a mortgage quickly and without unnecessary problems, presenting all 2 document. However, it should be borne in mind that such concessions are NOT free. For convenience, you will have to pay a high down payment or an increased interest rate.

Despite the presence of nuances that exist during registration at different banks, there are several stages that are characteristic of any mortgage transaction.

Stage 1. Real Estate Market Analysis

Many professionals recommend choosing the property planned for purchase before contacting the bank. But some experts are sure that with the search for a loan facility it is worth waiting until all issues with the bank are resolved.

However, even in the second case, it is necessary to conduct an analysis of the real estate market in advance. This is explained by the need to indicate in the application for a mortgage the amount of the planned loan.

It is important to understand that only certain properties will be obtained on credit:

• an apartment in the secondary market;
• finished housing in new buildings;
• an apartment in a house under construction;
• cottage;
• private house.

Some credit organizations draw up home building loans, but such options are much less common. Such programs can be found, for example, in Sberbank and Russian Agricultural Bank.

When choosing an apartment, it should be understood that some owners refuse to sell their property in mortgages. This is especially true of the acquisition of housing in the secondary market. Therefore, it is important to warn property owners in advance about their desire. This approach saves time, as it prevents misunderstandings and refusal to sell during the transaction.

Banks are also attentive to the property, which is planned to be purchased on credit. Mortgage can be obtained only to purchase high-grade housing that meets certain requirements.

Each bank sets the criteria for choosing housing on their own. But one symptom is common - the property should NOT be dilapidated, wrecked or intended for demolition.

It is also important to understand that a mortgage will not be issued without a specialist housing assessment. It is important for the credit organization to be sure that the size of the loan received corresponds to the value of the real estate acquired on it.

Stage 2. Choosing a credit organization

Each borrower, choosing a credit institution, is guided by its own criteria and preferences. But in any case, most borrowers primarily pay attention to interest rate. For many, this indicator is decisive.

When choosing a bank for mortgage registration, you should first contact the one whose services the future borrower constantly uses. In this case, you can count on loyal attitude and more favorable credit conditions.

Professionals give other tips to those who are puzzled by the choice of bank:

• it is important to clarify the conditions for partially early and full repayment - there is always a chance of an increase in income, which will lead to a desire to reduce the amount of debt;
• should analyze the feedback of borrowers who have already issued a mortgage loan in the bank in question;
• it will be useful to draw up a list of questions to the loan manager in writing, this will help not to forget important points;
• the borrower should calculate his monthly income in advance, in case of insufficiency, a co-borrower should be found.

Many shock at the signing of the contract overpayment amounts, as well as monthly payment. So that these amounts do not become an unpleasant surprise, you should find out how much they will be in advance.

Stage 3. Application for a mortgage

You need to apply for a mortgage loan to the maximum number of banks. This allows you to increase the likelihood of a positive decision. If approval comes from several credit organizations at once, it is enough to choose the one in which the conditions are most favorable.

What documents are needed for a mortgage?

Each bank has the right to establish its own list of documents that are necessary for obtaining a mortgage.

Nevertheless, you can select the following documents for obtaining a mortgage, which will be useful everywhere:

• passport of a citizen of the Russian Federation;
• Marriage certificate;
• birth certificate for each child in the family;
• a copy of the work book made and certified by the employer at the current place of work;
• certificate confirming the level of income;
• certificate from the psychological clinic that the borrower is not registered.

If you plan to attract co-borrowers, each of them will have to prepare the same package of documents. In addition, when the property to be purchased is selected, the bank will also need to submit documents.

Stage 4. Mortgage Insurance

If the bank agrees to the issuance of a mortgage loan based on the results of consideration of the application, the transaction procedure begins. Her first stage is insurance. This procedure is required. The costs incurred in the insurance process are borne by the borrower.

It's important to knowthat insurance of only the subject of the pledge is mandatory, i.e. acquired property. The conclusion of contracts with insurance companies in other cases is voluntary.

However, in order to minimize risks, banks by all possible means force borrowers to insure their own working capacity, health and a life.

This situation has one result - at the expense of the buyer of the apartment the risks of the credit institution are insured. At the same time, the borrower remains uninsured from unforeseen situations. If an insured event occurs, the required payments will be transferred in favor of the bank. The borrower will not get anything.

It would seem that the voluntariness of the acquisition of insurance policies means that you can refuse this service. However, to avoid this, credit organizations increase the bid in the absence of insurance. In this case, you should carefully consider what will be more profitable.

In other words is necessary compare overpayment on a mortgage with an increased interest with the amount of overpayment at a lower rate, but taking into account the cost of insurance.

As a result, you will most likely have to insure yourself. And then another unpleasant moment arises - most often the insurer chooses the lender. It provides the borrower with a choice of one or more insurance companies with which he cooperates.

At the same time, it is highly probable that the policy will have to be purchased at not the most favorable tariffs on the market. The only way to save money is to conclude comprehensive insurance contract all the necessary risks at once.

Stage 5. Conclusion of contracts

One of the most important stages of a mortgage transaction is conclusion of a loan agreement. Like any other agreement, it should be carefully read without missing a single paragraph.

Don't forgetthat you should familiarize yourself with the loan agreement BEFORE the moment of its signing. If any points in the contract are not clear, do not hesitate to ask questions to the loan specialist.

In the course of studying the contract, maximum attention should be paid to the financial parameters of the mortgage. Mean amount of payments, their kind, late payment penalties. Ideally, the bank should provide the borrower with a payment schedule for the entire term of the mortgage loan.

Along with the signing of the loan agreement is also concluded real estate purchase agreement. The way in which the money to pay for housing will be transferred to the seller is established individually for each transaction. This can be a transfer of funds to an account or transfer in cash using a bank cell.

Thus, the mortgage transaction procedure is quite long. For those who are not specialists in finance or lending, it can seem very complicated. However, with the successive execution of each stage of the transaction, most difficulties can be avoided.

4. How to get a mortgage for an apartment: where to start

The decision to apply for a mortgage in order to purchase real estate should be very balanced and deliberate; you should not take it lightly. Most citizens who decide to become homeowners using a mortgage do not even know where to start registration.

Professionals recommend, first of all, to calculate their own financial capabilities.

It is important to clearly understand the size of the following indicators:

• savings that can be transferred as a down payment;
• the cost of the desired housing and, accordingly, the required size of the mortgage loan;
• the amount that the borrower is ready to give each month as a payment.

The size of future mortgages is one of the most important indicators that needs to be assessed before filing an application.

The loan amount is most affected by 2 indicators:

1. the amount that the borrower is willing to transfer as a down payment;
2. the amount of monthly income that can be documented to assess solvency by the bank.

Indicator 1. Down payment on a mortgage

Calculate the size of the down payment on the mortgage is not difficult. Each borrower can handle this task.

To calculate the down payment it is enough to complete only 2 steps:

1 step. First of all, it will take find out the cost of real estate planned for acquisition. To do this, just visit the Internet property search site. It selects a property option that is as similar as possible to the housing planned for purchase. For the calculation, you should remember its cost. If there are several suitable options, for a more accurate assessment it is advisable to take the average cost. After that, one percent is calculated for the resulting amount.

For example, the average cost of an apartment like the one you plan to buy is 3 000 000 rubles. To find out how much is 1% of it, you need to divide the cost by 100:

3 000 000 / 100 = 30 000 rubles

It turns out that the cost of one percent of the selected housing is 30 000 rubles.

2 step. Followed by calculate how much percent of the cost of housing the borrower can pay on his own. To do this, evaluate the amount of savings. The resulting figure must be divided by the cost of one percent of the apartment.

If we assume that the accumulation of the borrower is 900 000 rubles, it turns out:

900 000 / 30 000 = 30%

In other words, the borrower owns thirty percent of the cost of the apartment planned for acquisition.

This indicator allows you to choose the right mortgage program.Do not forget that one of the most important indicators of a mortgage is the percentage of the down payment required for payment.

In addition, the size of the down payment makes it possible to understand how much loan will be needed. In our example, it turns out that the amount should be indicated in the application for a mortgage:

3 000 000 - 900 000 = 2 100 000 rubles

This amount is not enough to buy an apartment for cash.

Indicator 2. Solvency Level

Another major indicator necessary for calculating the mortgage is the level of solvency of the borrower. Understanding what income should be documented for the bank is easy.

First you need take advantage of any mortgage calculatorsubmitted on the Internet. In a special window are entered property value, down payment available.

We suggest using a calculator for calculating payments:

As interest rate You can specify the average value in the market. Today it is on average15%. Loan terms can be taken for 20 years. After pressing the button calculate will become known monthly payment amount. For this example, this value will be 27 653 ruble.

Traditionally, the amount of verified income should be at least 2 times more monthly installment. This requirement is presented by most banks.

For the data given in the example, it turns out that the income should be equal to:

27 653 * 2 = 55 306 rubles

It is such an income (usually wages) that must be confirmed in the bank by certificates.

It is important to understand that this does not have to be solely the personal income of the borrower himself. Most banks allow you to attract for mortgage lending co-borrowers. In this case, the total amount of confirmed income for all participants in the mortgage will be accepted for settlement.

Not everyone understands why banks require such a seemingly overestimated income. In fact, such an approach advocates a way to protect the borrower from financial problems. After payment of the mortgage payment, sufficient money should remain (at least half of the income) for a normal diet and purchase of other necessary things.

However, it is far from always possible to document the adequacy of the income received. A potential borrower may have other unofficial income besides wages. In this regard, the question arises: really have to abandon the registration of a mortgage?

In fact, there are 2 options that can be used in such situations:

1) Still, submit the available documents to the credit institution. In most cases will follow renouncement. However, some banks approve of a mortgage in cases where the payment is about 70% of income.

In addition, there is the possibility of obtaining approval for an amount less than declared. True, in this case, you will either have to make a large down payment or choose a cheaper apartment.

2) Take the help of a credit broker. It should be remembered that at each refusal of a bank to issue a mortgage, information about this is transmitted to Credit Bureau.

Naturally, such data in the credit history may affect the decision of credit organizations in the future. Therefore, with the realization that there are various problems, including with the level of income, it is better to immediately contact specialists.

Credit brokers carefully study the information and documents provided by the borrower. After that, they tell the future borrower in which credit institution he is likely to be able to get the first time positive decision.

Brokers try to present such options in which the loan amount will not be reduced. In addition, they well know which banks do not need certificates, and it is enough to describe the additional income orally.

It should be noted that experienced brokers have connections with a large number of credit organizations. Such a partnership allows you to help customers get the right amount on a mortgage on the most favorable terms.

Can I get a mortgage on an apartment with a bad credit history?

Due to the low financial literacy of Russians, as well as due to the crisis period, today very many have problems with credit history. Naturally, this is what most often causes rejection on mortgage applications. Therefore, it often happens that future borrowers have a question, will it be possible to get a mortgage with a damaged credit history.

First of all, you need to understand that the presence of delinquencies in consumer loans or credit cards in the past is likely to become known to the bank. Even in cases where solvency has changed for the better, the client will in any case be assigned high risk status.

Able to help get a mortgage credit brokers. They are aware of various programs for clients with bad credit history. Therefore, in their power to obtain approval for a mortgage even in such situation.

In any case, the broker's income depends on the number of loans for which they helped to get approval. This approach ensures that the broker will make every effort to achieve a positive solution for his client.

For details on where and how to get a loan with bad credit history without information about income and guarantors, read one of our articles.

It turns out that when registering a mortgage don't be afraid, the main thing is to start. It is important to decide what kind of housing you want to purchase and understand how much it corresponds to the available income.

If it becomes clear that there are any problems that may interfere with a positive solution, you should immediately contact brokers.

A detailed guide on how to take a mortgage loan for an apartment or house

5. How to get a mortgage for an apartment, house or other housing in 5 easy steps - step by step instructions

Mortgage registration - a difficult and lengthy process. Therefore, it is important to conduct it in stages. Before starting the process, you should carefully read the step-by-step instructions that describe the algorithm of actions taken. In addition, it is important to know how to carry out each step with maximum efficiency.

Experts recommend starting the process with real estate selectionplanned for purchase. In this case, it will be clearly understood how much mortgage is required, what should be the first installment. Other lending options also depend on the cost of housing.

Step 1. Property selection

Those who decided to buy housing on a mortgage, first of all, care about the question: What real estate do banks lend?

Today, a mortgage loan can be issued for almost any property:

1. an apartment in a new house (new building) or in the secondary market;
2. cottage or summer cottage;
3. private house.

Banks also lend participation in shared construction. In addition, in some cases, you can issue home loan.

At this stage, the borrower should carefully consider the assessment of their own capabilities, they should be properly coordinated with their own desires. This approach helps you not to be disappointed in the acquisition and not to hate the mortgage through several monthly payments.

In the process of choosing housing for acquisition, the goals of the future borrower are of great importance.

First option - citizen improves living conditionswhen buying a larger apartment or with a more prestigious location. Moreover, as a rule, there is a fairly large stable income. Such borrowers more easily agree to part with new housing in the event of any problems.

Second option - cases when a mortgage is issued in order to acquire the only own housing. In this case, the borrowers make every effort not to lose their own property. They take loans more seriously.

When choosing real estate, it should be borne in mind that credit organizations impose serious requirements on the acquired objects. At the expense of mortgage funds, it will not be possible to buy emergency and dilapidated housing, as well as real estate located abroad.

Step 2. Search for a credit institution and a mortgage program

When choosing a credit institution should consider the goals, as well as opportunities potential borrower. At the same time, it is important to understand that even in those cases when a citizen liked the bank, this does not mean that the mortgage will be exactly registered. Simply put, to approve a loan application, it is important to reach a mutual understanding between the lender and the borrower.

Despite the fact that the interest in most banks is approximately the same, they are close to average market rates, there is always a chance to choose a comfortable loan environment.

State benefits if available, you should definitely use it in those cases when the registration process will be quite difficult. Even an insignificant reduction in the interest rate with the right to subsidies leads to significant savings. Over the years, it spills into dozens and even hundreds of thousands of rubles.

There are a number of parameters that should be considered when choosing a credit institution, as well as a mortgage program.

The main parameters of choosing a credit institution:

1. reliability and reputation of the bank;
2. reviews of real customers who have already registered a mortgage through this lender;
3. the maximum possible loan amount;
4. down payment amount;
5. conditions for full and partial prepayment, the presence of fines for this procedure;
6. the obligation to draw up insurance policies, as well as the size of insurance premiums;
7. the amount of fines, as well as the procedure for their accrual on the assumption of delay.

For those whose salaries are not completely official, you should choose those programs that allow apply for a mortgage without inquiries and collateral.

There are also conditions that require the issuance of loans based on certificates in the form of a bank. However, such programs involve higher interest rates.

Step 3. Preparation of the necessary documents and application

Most of the success in obtaining a mortgage is proper design a package of documents. Each bank develops its own list, nevertheless, it is possible to identify mandatory for all.

List of documents for obtaining mortgages that all credit organizations require:

1. application or application for a mortgage;
2. identification documents of the borrower, guarantors and co-borrowers;
3. a copy of the work book certified by the current employer;
4. certificate of income;
5. for private entrepreneurs relevant licenses and certificates;
6. documents for the property planned for acquisition.

For preferential categories of citizens the package of documents will be more voluminous. Additionally, papers are required that confirm the right to benefits, as well as permission of the authorities to use subsidies from the budget.

Step 4. Signing a mortgage agreement

The most important step in obtaining a mortgage is execution of a mortgage agreement. Before signing an agreement, it’s important to read it carefully. from the first before last paragraph.

Special attention it is worth paying to those sections that are written in small print. Perfect option - take a sample contract in advance and study it at home. Even better - Let the experienced lawyer read the agreement.

It is on the basis of a mortgage agreement that the borrower receives the right to transfer the loan received in payment for the acquired housing.

At the same time, do not forget that until complete fulfillment of obligations under a mortgage agreement real estate will be located in a pledge at the bank. Without the permission of the lender, the borrower will not be able to dispose of it at its discretion. That is, he will not be able to sell, donate or exchange the purchased apartment.

Step 5. Completion of the transaction

Russian law enshrines the obligation to insure an apartment purchased in a mortgage. However, banking organizations are usually not limited to collateral insurance. Often they require to issue a policy also on life insurance, health and other possible risks. Naturally, you will have to pay for each insurance.

The bank is not entitled to make additional insurance contracts. However, in order to reduce their own risks, lenders make every effort to force the borrower to buy a policy. Therefore, if you refuse to insure any risk, the bank may increase the interest rate.

The last step in obtaining a mortgage is registration of the contract of sale real estate in Rosreestre. At the same time, another important document, called mortgage. This agreement confirms the burden.

Thus, registration of a mortgage is a strictly regulated process. Knowing the step-by-step procedure helps to purchase real estate on credit is much easier.

Nuances and features of registration of a mortgage on a land plot

6. The main features of land mortgages 🏡

In the mortgage you can buy not only residential real estate, but also land plot. Such lending has a number of nuances. Without taking into account the most important characteristics, mortgage plots of land becomes impossible. Even in cases where the transaction will nevertheless be completed, it will be inconsistent with the law.

1) Characteristics of the subject of a mortgage

The initial stage of the mortgage of the land is the identification of the main features of the subject of lending. The need for this is due to the fact that it is this approach that makes it possible to understand whether a particular plot of land can be purchased on credit.

The land must comply with certain characteristics:

1. lack of prohibition of turnover;
2. lack of restrictions.

If the subject of the mortgage does not meet these two criteria, lending can be considered a violation of the laws of the Russian Federation. Both criteria are considered in more detail below.

1. The limitation of the turnover of the land

The rules of the mortgage established that the subject of a pledge cannot be property that is, for whatever reason, limited in circulation or withdrawn from it. This applies, including lending for the acquisition of land.

In accordance with land legislation, a number of plots can be distinguished for which turnover restrictions apply:

• forest fund plots;
• agricultural land;
• areas contaminated with radioactive substances, as well as other hazardous waste;
• areas that have undergone degradation.

2. Prohibition of pledge

When determining whether a piece of land can become the subject of a mortgage, it should be borne in mind that the law prohibits certain objects as collateral. These include, but are not limited to:

• Land that is owned by state or municipality. The ban on pledging such plots is explained by the need to preserve the integrity of the territory of our country, as well as to secure a reserve of land owned by the state. The government has the right to transfer such sites to economic as well as operational management.
• A part of a plot of land that is smaller than the minimum area. This indicator is determined by regulations adopted by the constituent entities of the Russian Federation, as well as by local authorities. This applies to sites of various permitted and intended uses. Limitations are due to the fact that in different regions the share of land used is different.That is why the lower and upper boundaries of the area of ​​land are not the same.

2) Other features of land mortgages

In addition to the described features of land mortgages that are associated with the subject of the pledge, there are other, also very important features.

The first one concerns ratio of mortgage of land and building. In most developed countries, a mortgage on a land plot also implies a pledge of all the buildings on it.

Unlike foreign countries, Russian legislation shares 2 type of collateral - land and facilities. It turns out that with a mortgage of a land plot, the buildings erected on it are pledged NOT are located.

It is only natural that such an approach introduces an imbalance. Therefore, in most cases, the parties to the transaction try to draw up simultaneous pledge to the land and facilities.

In cases where the agreement does not provide for a simultaneous pledge, if collection of the land is levied, the owner of the building retains the right to it. In addition, in this case, the part of the land that is occupied by the construction by the mortgagor will be easement(the right of access through the site to the building located on it).

The last important characteristic of a mortgage to buy land are additional documents, as well as contract terms. They can rightly be called features of a mortgage on the ground. If at least one of the items is absent, the registration authority has the right to refuse to carry out state registration of rights to the site.

Additional conditions for the content of the mortgage agreement on the land

Traditionally distinguished 2 additional conditions for mortgage land:

Condition 1. Evaluation of a land plot acquired through a mortgage must not be lower than the standard cost. In other words, land cannot cost less than the lower limit of value. When calculating the standard cost, first of all, actual area.

In addition, special characteristics are taken into account:

• relief features;
• soil characteristics;
• location.

It is important to be mindful of these characteristics. Do not forget that the incorrect calculation of these indicators most often becomes the cause of litigation. In practice, there are cases when, in connection with an incorrect determination of the boundaries of the site, the court decided to deprive the owner of the right to use it indefinitely.

Condition 2. Availability of annex to the mortgage agreement.It acts as an addition to the plan, which reflects the boundaries of the site. Such a drawing is issued land committee.

Thus, the mortgage of land has a number of features. It is important to carefully study them until the loan.

7. Where is it better to take a mortgage (mortgage loan) - TOP-5 banks with favorable credit conditions

Today, the financial market has a huge number of mortgage programs. Moreover, often even within the framework of a single credit organization a number of different conditions are developed.

In such a situation, it is not easy to choose a bank with better conditions. Ratings by professionals can help to cope with this difficult task. So, which bank is better to take a mortgage, consider below.

Proven banks with the best mortgage terms:

We already wrote in a separate article about where it is more profitable to get a mortgage loan and which bank has the most profitable mortgage for housing - we recommend that you familiarize yourself with it.

8. How to apply for a mortgage online?

In today's world, a huge number of questions and problems are solved using the capabilities of the Internet.This also applies to mortgages.

Sending an application using the Internet is a very convenient way to get a loan. It is perfect for those who do not have free time.

Algorithm for processing an online mortgage application through the Internet

Mortgage registrationin online mode allows the borrower to avoid the need to visit the offices of a large number of banks. Without losing time on consultations with loan specialists, the borrower independently calculates the parameters of various mortgage loans, analyzes and compares them.

Using special mortgage calculator, you can easily determine the approximate amount of the monthly payment, the amount of the overpayment and other important parameters. The calculations help the applicant to find out how much he really can get on a mortgage.

It is important to understand that the following parameters are taken into account when determining the size of lending:

1. income level;
2. available own funds that will be used for down payment.

It is also important to determine the loan term. Not only the size of the payment, but also the amount of the overpayment will depend on it.

The term for repayment of the mortgage is determined by several parameters:

• amount provided on credit;
• interest rate;
• solvency level, which affects the possible size of the payment.

An important result of the calculations is also the size of the overpayment. The borrower should take into account not the rate that sounds in the program, but effective. In other words, not only the size of the overpayment affects accrued interestbut also various commissions, as well as additional payments, including insurance.

To calculate the mortgage you can use any online calculator. Many finance sites host similar programs on their main pages.

An example of an online application for a mortgage through the official website of the bank - calculation using a loan calculator

Don't forgetthat to obtain the most reliable data you will need to know exactly Not only bid and required down payment. Important also take into account all additional payments and commissions corresponding to the selected program, insurance premiums.

Often, a calculation using a mortgage calculator is approximate. To get the most relevant data, it is best to contact loan specialist specific bank.

Note. If during the study of information presented on the Internet there are questions, you can always call the numbers indicated. This approach allows you to quickly clarify incomprehensible points.

The next step is filling out a mortgage application form. It is best to submit applications to several banks at once. This will save a lot of time. In case of refusal in one credit institution, you will not have to start the search from the beginning and wait for consideration, which can be quite lengthy when registering a mortgage.

If a positive decision is made by several banks, it is enough to compare the proposals received. After that, the best option is chosen, the rest simply remain without attention.

To apply, just visit the site of the selected bank. Traditionally, it is there that the questionnaire of the potential borrower is filled.

The following information is entered in the loan application:

• personal data of the applicant;
• place of work and income level;
• family composition and total income;
• amount of obligations;
• information about the property planned for purchase.

Usually a mortgage application is more detailed than a consumer loan. Moreover, it is considered longer. This is explained by the long term and the amount of lending. Traditionally review period ranges from 1 before 7 days.

Overview of mortgage loan brokers

9.Who provides assistance in obtaining a mortgage - a review of the top 5 mortgage brokers

Not everyone can afford a mortgage loan on their own. This process requires significant time costs, moral concentration. In addition, for a proper understanding of the features of a complex mortgage lending process, at least minimal knowledge in finance. Naturally, not everyone has such abilities.

However, it is not worth giving up the idea of ​​acquiring housing by obtaining a mortgage loan. A much better solution would be to use the help of a professional intermediary between a borrower and a credit institution. That is what the so-called mortgage broker.

Such a specialist is usually aware of the features of a huge amount mortgage programsrepresented in the market. He is able to help anyone who wants to choose the most suitable and profitable loan option.

Most often in large cities whole intermediary organizationsthat provide credit broker services. In small towns such intermediaries can be found in large real estate agencies.

In the Moscow region, experts highlight 5 companiesbeing recognized leaders in the brokerage services market. They are discussed below.

1) LK loan

Despite the fact that this broker has been operating in the market relatively recently, it has already earned an impeccable reputation. Clients at this company do not require any prepayment. Payment for the services provided is carried out exclusively within the framework of the contract.

2) Kommersant-Credit

The employees of the broker in question have experience in the management and security services of various banks.

Thanks to this, the mortgage is known inside.

3) Credit Decision Service

The presented company successfully operates in the market with 2010 of the year.

The company provides brokerage services to both individuals and legal entities.

4) Mortgage selection

The represented broker was formed in 2012 year.

Both individuals and companies here are guaranteed a positive decision on applications from Moscow banks.

5) Credit Laboratory

All company employees have significant experience. They are able to prepare their clients for any, even very specific requirements of lenders.

It is advisable to resort to the help of a broker not only for the sake of saving time and nerves. Intermediaries help get a mortgage in unusual situationsthat are complicated by any negative factors. In some cases, such companies act not only as intermediaries, but also as guarantors for their customers.

Turning to brokers, it is important to carefully examine their reputation. This will help avoid collaboration with scammers. In addition, you should not transfer money to pay for services before the moment you receive a loan.

Practical tips on how to take a mortgage correctly and profitably

10. How to correctly take a mortgage - 5 useful tips from professionals

Today, mortgage lending is quite popular. Naturally, not everyone who decided on its design has a specialized education - financial or legal. Therefore, the design of a mortgage must be approached seriously and prepared.

Getting a really profitable loan can be difficult. To save your nerves and time, as well as to acquire your own real estate without unnecessary problems, important carefully examine the most important nuances of the transaction yet BEFORE filing an application.

In addition, it is not superfluous to heed the advice of experts. This approach will help to avoid most problems.

Tip 1. You need to issue a mortgage in the currency in which the main income is accrued.

The main rule in obtaining loans of any type is to conclude agreements only in the currency in which the borrower receives wages.The reason is simple - when you receive a mortgage in foreign currency, you will have to purchase it at the expense of ruble assets to pay for the loan.

Moreover, there is exchange rate risk. Such a situation will inevitably lead to an increase in monthly payments. This threatens not only a decrease in solvency, but also a complete collapse of the payer.

It was in this situation that those who were flattered at a low rate and in 2013-2015 years issued a mortgage in foreign currency. The sharp increase in the exchange rate led to the fact that in terms of rubles payments increased approximately 2 times. At the same time, wages have not changed.

The result in most cases is deplorable - borrowers are not able to fully fulfill their obligations. Many even had to sell an apartment bought in a mortgage.

Tip 2. Do not overestimate your own financial capabilities

Do not immediately decide to buy a huge apartment, if the income level does not allow you to spend huge amounts on a monthly loan servicing.

In the field of finance, the rule - maintenance costs of the undertaken obligations should not be more 30-40% of income. The critical value of this indicator is 50% If the payment on the mortgage is more than half of the income received, this will inevitably lead to a deterioration in the usual conditions of existence.

Most Russians forget the above rule. Many draw up mortgages with a payment that exceeds 70% of their income. They believe that the main thing is to buy an apartment, without thinking about how they will repay the loan.

As a result, a full life is out of the question. If a problem is added to an already tense financial situation, delays. The result is bad credit.

The most important conclusion suggests itself. You can not overestimate your own financial capabilities. Living conditions should be improved gradually.

First, you can apply for a mortgage the minimum amount required to purchase a small apartment. It is possible that by the time of full repayment, the situation in the mortgage market will change.

Today there is a tendency to lower rates. Therefore, most likely, in the future it will be possible to issue a mortgage on more favorable terms. Then it’s worth if you want to change a small apartment to a large one.

Tip 3. It is important to choose the best time for obtaining a mortgage.

For any real estate transactions, it is important to choose the right time to make. The same applies to obtaining a mortgage.

Often the situation with the purchase of real estate can be postponed for some time. In such situation to purchase an apartment at the expense of borrowed funds should be in those moments when demand for them falls.

Ideally, you need to wait for the minimum demand to be sure that the transaction is completed at the best time.

It will be a mistake to get a mortgage and buy an apartment when the market is busy. In this case, most likely, subsequently, when interest in real estate decreases and prices go down, the borrower will begin to bite his elbows.

Tip 4. You should carefully study the contract until it is signed.

That the contract should be signed only after a thorough study of it, everyone knows. However, far from all of this rule is observed. Moreover, it is in this agreement that the basic conditions for mortgage lending are specified that are specific to a particular transaction.

Particular attention in the study of the contract should be given to sections that relate toadditional expenses. Many borrowers are not serious about various commissions and insurance premiums.

However, usually banks require insurance annually in certain companies. The result is an increase in mortgage prices on average by 1% in year. Such overpayments are an unpleasant surprise for inattentive borrowers.

Tip 5. You need to worry about creating the so-called airbag

It should be on a separate account (preferably a contribution) to keep funds in the amount of several monthly payments. The ideal amount is 3 to 6 loan installments.

There are several reasons why this money should not be paid for early repayment:

1. Many banks do not like paying mortgages ahead of schedule and set up for such a procedure additional commissions. Therefore, too often making partly early repayments becomes unprofitable.
2. If the deposit is terminated prematurely, the client in most cases loses the accrued interest.

Therefore, it is best to always keep such savings in a separate account. They can be effective support when difficulties arise..

Even in cases where the borrower loses his job, with the help of an airbag he can continue to repay the mortgage on time.

Thus, by listening to the advice of specialists, you can significantly facilitate the fulfillment of mortgage obligations.

11. Frequently Asked Questions (FAQ)

Making a mortgage is not an easy task. Therefore, often even the advice of specialists is not enough. Non-standard situations often arise that require an instant solution. That is why the article provides answers to frequently asked questions.

Question 1. What is a return on interest on a mortgage?

It is important for everyone who decides to get a mortgage to know what is interest return. In accordance with Russian laws, the borrower has the right to return a certain part of the money that went to him to pay the mortgage.

Not everyone understands that it will not be possible to return the payments themselves, but only part of the income tax on the amount allocated for such expenses. This procedure is called property deduction.

The borrower has the right to receive compensation in the amount of 13% of the amount of interest paid by him on the mortgage for the past calendar year. The right to a deduction arises only in cases where the borrower has income taxable at the rate on the territory of the Russian Federation 13%.

The return is not carried out by a credit institution, but by the state. Therefore, to receive the required funds, you should contact to the tax office.

Question 2. I want to take a mortgage on the room. Is it possible?

Not everyone can service a mortgage loan worth several million. But this is exactly what is required to buy a full-fledged apartment. By the way, we wrote earlier about how to buy an apartment on a mortgage and where to start the process of buying future housing.

If you still want to have your own housing, the only way out is get a mortgage on the room. The same option is suitable for use. maternal capital. Not everyone can afford to pay a full mortgage if there is more than one child in the family.

Often, investors with a small level of capital consider rooms as promising option for investments. Such real estate can be rented out. After the full repayment of the mortgage, the room can be sold.

Moreover, when buying a dorm room there is a chance to fall under resettlement program in the event of a decision to demolish it. As a result, having bought not quite full-fledged real estate, you can become the owner of a decent apartment. By the way, often during resettlement housing is provided in new buildings.

All of the above reasons lead to the fact that the issue of using this type of lending remains relevant.

Making a mortgage to purchase a room has a number of features:

• Finding a bank that agrees to give out a loan to buy a room is not easy. This is directly related to the subject of the mortgage. Liquidity in the real estate market in rooms is low. Therefore, in case of loan non-repayment, it will not be easy to sell it. This situation significantly increases the risks of the lender.
• The benefit for the bank from such transactions is small. The costs of real estate registration are quite significant, and the interest received is insignificant. This is especially true in cases where part of the mortgage is repaid ahead of schedule at the expense of maternity capital.

However, there are cases when credit organizations are very enthusiastic about lending to purchase a room:

1. In the case of mortgages secured by another valuable property, which is equal in value or more expensive than the acquired property.
2. If a potential borrower, for several reasons, is the owner of the entire apartment, except for a separate room. In this case, the bank will be more willing to make a deal.

Those who decide to buy a room on credit should keep in mind that there are few banks issuing mortgages for such purposes.

Banks and their loan conditions for the purchase of rooms are presented in the table:

Question 3. What is needed to get a mortgage for two documents? What are its conditions?

Most Russians can buy their own housing, only applying for a mortgage. This is often a very lengthy process, requiring the collection of a huge number of documents. However, today a huge number of banks offer mortgage lending services.

Due to the huge competition and the struggle for each client, new attractive programs appear on the market. for example, possibility apply for a mortgage in just two documents.

Naturally, if you want to get such a loan, the first question is what documents will be needed for this.

First document, first of all, the bank will require a potential borrower to present passport. A prerequisite is the presence in this document of a stamp on the permanent registration in the Russian territory (in other words, registration).

Second document Typically, the borrower can independently choose from the proposed list. Traditionally, it includes:

1. military ID;
2. certificate of registration in a pension fund (SNILS);
3. identity card of a military officer or employee of government bodies;
4. international passport;
5. driver's license.

As for the conditions of a mortgage loan, they are individual in each bank. Despite this, a number of common ones can be distinguished from them.

The main conditions of a mortgage, drawn up on the basis of two documents:

• No need to confirm solvency.
• Overpriced interest compared to other programs. The exception is borrowers who have a salary or retirement account with this credit institution.
• Down payment required which most often ranges from fifteen to fifty percent of the value of the acquired property.
• Most banks allow you to attract co-borrowers.
• As a rule, the absence of commissions and restrictions on early repayment.
• It is necessary to provide documents for housing after receiving a positive decision to issue a loan.
• It is mandatory to draw up an insurance policy. If you refuse this service, the rate will be increased.
• Delays are subject to fines.

Mortgage application is processed as usual:

1. The questionnaire is filled out. You can do this by contacting the office or on the bank's website.
2. Wait for the decision of the credit institution. The terms for consideration of the application in different banks differ significantly. Moreover, in some cases, credit organizations extend them.
3. Submit documents for consideration of the property,if a positive decision is received on the application.
4. Signing a loan agreement, making a down payment and taking out insuranceand in the event that the bank approves the selected housing.
5. Psigning a contract of sale as well as transfer of ownership of real estate to the borrower and its registration as a pledge to the bank.

When registering a mortgage for two documents, it is important to follow some recommendations of specialists:

1. Carefully study the conditions of the mortgage program BEFORE the time of application.
2. Using the alleged term and the size mortgages as well bids, commissions and additional payments count using a loan calculator parameters of the future loan. After that, it is important to conduct a thorough analysis and compare with other banks.
3. It’s worth going to the branch of a credit organization only then when all the necessary documents are collected.
4. It is important to understand that the mortgage does not end with the approval of the application by the bank for the borrower. On the contrary, it is just beginning. In addition to making monthly payments, you will need to renew your insurance policy every year.. In addition, most banks require a certificate of absence of debts on utility bills.

Thus, for many borrowers, a two-mortgage mortgage is an ideal option. It allows you to significantly save time on the preparation of necessary documents.

The future borrower will not have to collect a huge amount of information. At the same time, a number of banks offer no less favorable conditions for such programs than for traditional ones.

But do not forget that you will not be able to buy an apartment on credit without a substantial down payment. Moreover, when registering a mortgage for two documents, it is often required to confirm its presence.

Question 4. How to get a mortgage on the security of an existing apartment?

Traditionally, in Russia, borrowers draw up mortgages secured by acquired property. Not everyone knows that there is also the possibility of buying property as collateral to provide the lender with the available housing space.

In addition, in some cases, banks even offer to issue non-targeted loans secured by real estate. All cases described are also mortgage, a characteristic feature of which is to receive funds on credit secured by real estate.

What you need to know when applying for a mortgage loan secured by an apartment

Important to understandthat in the absence of a requirement for the targeted use of funds received in a mortgage, the risks for the bank increase many times. Most often, the result is less favorable terms for such programs.

Critical condition mortgages secured by existing property is that the borrower's living space will act mortgage collateral. In other words, the bank will formalize a pledge.

In any case, collateral obligations are drawn up. in the registration chamber. Therefore, the borrower will no longer be able to dispose of his own apartment. Without the permission of the bank, housing cannot be sold, donated and inherited. In return, the borrower gets the opportunity to spend the borrowed funds on the acquisition of new real estate or (if provided for by the contract) at its discretion.

It is important to understand that mortgage loan secured by an existing apartment, like other financial services, has its own advantages and limitations. Before you agree to a loan of this type, you should carefully study them.

Among the advantages of lending to secure existing housing, the following can be distinguished:

1. Most credit institutions are more loyal to borrowers who are ready to pledge existing housing as collateral.Therefore, many of them offer lower interest rate for such programs. However, recently, some banks have begun to reduce rates on traditional mortgages. Therefore, it is possible that in the near future this advantage may disappear.
2. With a mortgage secured by existing real estate, the object that is planned to be acquired does not matter for the bank. As a result, such programs make it easier to purchase an apartment at the zero construction stage. In addition, the borrower can choose the developer on his own, it is not necessary that he be accredited by the bank. Also, the property can be any - dacha, room in dorm and other options for which most banks refuse to lend.
3. The program under consideration sets flexible requirements not only for the acquired property, but also for the borrower himself, including to his solvency. Traditionally, mortgages secured by existing housing can be issued by Russians aged from 18 before 65 years. It is important that the borrower and his family have a stable income sufficient to repay the loan.
4. In contrast to unsecured loans, the programs in question assume a maximum contract term of 30 years.
5. An important advantage is the absence of down payments. Some credit organizations in order to further attract customers position this loan as a mortgage without a down payment. We talked about the mortgage without down payment in detail in one of the previous articles.
6. Traditionally, similar schemes do not have penalties for early repayment.

Those wishing to apply for a loan secured by their own property should also be aware of the disadvantages characteristic of such programs. If you do not familiarize yourself with them before signing the contract, you can subsequently encounter a lot of unpleasant surprises.

The disadvantages of this kind of mortgage include:

1.  Not all real estate is suitable as security. Banks are attentive to the subject of collateral for loans of this type. It will not be possible to issue a mortgage on the security of premises included in dilapidated housing fund and intended for demolition and resettlement. The bank will not lend to real estate whose depreciation exceeds 50% Also, no credit institution will take as collateral apartments with wooden floorsas well as in the presence in it illegal redevelopment.
2. No one will get a loan for the full cost of existing property. The maximum that can be obtained is 70% of the market price of the apartment.
3. High insurance costs.Most likely, you will have to insure the life and performance of the borrower, the subject of the pledge, as well as the purchased apartment.
4. If necessary, it’s unlikely to sell the mortgaged property. The bank will most likely not make such a deal.Therefore, before the conclusion of the contract, it is worth immediately clarifying all the conditions that the bank will put upon such a request.

For banks, mortgages for existing housing also have a significant drawback - high risk. It is explained by the lack of down payment. This leads to the fact that there are few banks offering such programs. Naturally, each credit institution develops its own lending conditions.

There are several parameters characteristic of mortgages secured by own housing:

• lending currency - rubles, dollars or Euro;
• minimum age of the borrower - 21 year;
• the rate depends on the lending currency; on average, in rubles it is 16% per annum;
• maximum loan term - 25 years, sometimes reaches 30 years;
• loan amount rarely exceeds 70% of the value of real estate pledged.

Certain requirements are also imposed on the living space, under which it is planned to issue a loan:

1. in the presence of replanning, all of them must be legalized, which is documented;
2. utility bills must be fully paid;
3. the possibility of using the property for a comfortable stay - the house must be supplied with electricity, water and heating;
4. the apartment should not be encumbered.

It is important to understand that certain requirements are imposed not only on the dwelling, but also on the house in which it is located.

The building in which the mortgaged property is located must comply with the following parameters:

• the number of floors in the house must be at least five;
• non-emergency state of the building, there is no need to demolish or reconstruct it, the house should also not be resettled;
• year of construction no earlier 1950th.

Thus, in addition to a significant number of positive features, mortgages secured by existing property have a number of disadvantages. It is important to understand that if it is not possible to make monthly mortgage payments, significant problems can arise. Arises risk of loss pledged real estate. It can be put up for auction.

Besides, there is a probability of loss of all property owned by the borrower (that is, even the property that was purchased with borrowed funds). Therefore, when deciding to issue a mortgage, it is important to soberly assess your solvency. This must be done taking into account not only the current situation, but also that which may arise in the future, up to the expiration of the loan agreement.

Question 5. Can I take a mortgage for a share in the apartment?

Not everyone has the money to buy not only a full-fledged apartment, but also its parts. In this case, a situation may arise when it is urgently required to buy a share in residential real estate, and there is simply no one to borrow money from. In such a situation, the question arises - Is it realistic to get a loan to purchase an apartment share.

Recently, situations when a mortgage is required not for the entire apartment, but specifically for its part, have ceased to be an exception. There may be many reasons why citizens have to buy back a stake.

In what cases can I take a mortgage loan for a share in the apartment

Most often, a mortgage to acquire a share in residential real estate is issued in the following cases:

• The right to inheritance arises from several distant relatives. There is no way to live together, but I don’t want to sell the apartment completely.
• During the divorce, there was a division of real estate, but one of the spouses does not want to refuse to live in comfortable conditions.

The above are only those situations that occur most often. However, life is unpredictable, and it is impossible to know in advance for what reason it may be necessary to buy a share in the apartment.

Important to considerthat there are not so many credit organizations willing to give out a mortgage to acquire a share in an apartment.If you still find such a bank, you should be prepared for the fact that the conditions for such a loan are unlikely to be quite loyal. Mortgage rates per share can be very high. Often they reach 15% per annum, and often more.

Therefore, to become the sole owner of the apartment in which at present the citizen owns only a part is likely to be difficult. You will have to make a lot of effort and spend a lot of time to achieve the desired goal. But despair in any case is not worth it. The chances of getting a mortgage, although small, are still there.

Mortgage conditions for the acquisition of a part of residential real estate are largely determined by the objectives that the borrower pursues.

Most often, there are 2 types of loans for acquiring a share of housing:

1. A citizen owns a certain part of a particular apartment. At the same time, he wants to become its full and sole owner. In this situation, a mortgage is required to purchase the last share of real estate.
2. The future borrower wants to buy a part (e.g. room) in an apartment to which it has nothing to do. In this case, after the transaction, the citizen will own only a certain part of the real estate.

In both of the above examples, obtaining a mortgage to carry out a transaction will not be easy. However In the first case get a mortgage maybe much easier. This is explained by the difference in the level of risk in two situations. When buying the last share, the bank may require, at the time of the loan, to issue a security deposit for the part of the apartment that already belongs to the applicant.

Second option involves a loan for a rather large amount without providing collateral. In such a situation, the bank may not seem to provide proof of solvency as a guarantee of return. Most banks when applying for a mortgage for the first share may require additional security. It could be like other propertypledged as well as attraction guarantors.

We consider both cases in more detail.

1. Mortgage loans to acquire the last share

If you decide to apply for a mortgage in order to purchase the last share in the apartment, you should be mentally prepared for the fact that have to confirm ownership to the part already owned by the applicant.

In other words, it will be necessary to collect a package of documents that will uniquely identify the borrower as the owner of a part of the property.

In addition, you will need to confirm:

1. Work experience in last place. For this you need copy of work bookcertified by the employer with the obligatory indication that the borrower is working to this day. In this case, according to standard requirements, the service life in the last place should be not less 6 months.
2. Solvency. Salary should be not only stable, but also official. The existence of such a source of income is confirmed certificate 2-personal income tax either appropriate a declaration. If for some reason it is not possible to confirm the full amount of income with these documents, some credit organizations are allowed to fill out certificate on the form of the bank. Naturally, in this case, the degree of trust in the client will be lower.

In general, banks lend the last share much more willing. This is due to the fact that in the end the applicant will own the entire immovable property. In such situations, it is possible to present part of the apartment already owned by the right of ownership as additional security.

A lower risk of banks leads to the fact that in the described case, the conditions will be much more attractive.

Among the main characteristics of the loan for the last share, the following can be distinguished:

• average rate at the level 16% in year;
• maximum contract period is in the range 5-25 years;
• down payment availability at the rate of from 10% the cost of the purchased share (in some cases, its absence is allowed).

The borrower must understand that the bank will require him to pledge not a part of the acquired property, but a whole residential property, including last share. In other words, immediately after a citizen completes the ownership of the apartment, he will lose the right to dispose of it until the loan is repaid.

2. Buyback of a single share

Getting a mortgage to buy back a share in an apartment to which the borrower is not involved is much more difficult. In this case, the property will not become fully owned by the owner after the transaction.

This leads to credit institutions are very reluctant to issue a mortgage to purchase a share. That is why it is almost impossible to find a bank that agrees to provide a loan to purchase a part of the property that does not belong to the borrower.

Important to understandthat the loan in question involves a pledge to the bank only shares apartments. To sell it in case of problems with the return of debt funds will be almost impossible. Even if you succeed, it is unlikely that the price will be favorable.

To obtain a mortgage of the type in question, the borrower will have to make considerable efforts. First of all, you will need to try to convince the bank of its own solvency. It will be necessary to prove that there is a very real opportunity to timely and fully fulfill the loan obligations.

The Bank makes serious demands not only on the borrower, but also on the acquired share.

The acquired part of the property must meet the following conditions:

• perfect technical condition;
• acceptable level of liquidity;
• full compliance with all technical standards;
• Location in a good area of ​​the city.

It is important to keep in mind that mortgage rates on a single share are traditionally at least 3% higherthan with the acquisition of the last share. Naturally, full-time work, official regular income and a clean credit history in such a situation are mandatory. Moreover, it may be required additional security as pledge of property, sureties or attraction co-borrowers.

Thus, the chances of getting a mortgage on a single share are very few. But they still exist. True, for a positive decision will have to make considerable efforts.

Question 6. Which bank is better to take a mortgage?

Each borrower, choosing a bank for registration of a mortgage, pays attention to various loan conditions. Moreover, for each citizen, the most significant are various characteristics.

When choosing a mortgage program, they most often compare:

• down payment amount;
• interest rate;
• loyalty to the borrower.

However, not everyone has the time, energy and desire to independently analyze the conditions of the mortgage in various banks. In this case, ratings made by professionals can come in handy.

Question 7. Where and how to get a mortgage loan for an apartment if the credit history is damaged?

In Russia, until recently, many banks issued consumer loans to all comers, without thinking whether the borrower could repay the debt.

After the crisis came, many citizens were not able to fulfill their obligations.The result was deplorable - most borrowers hopelessly spoiled their credit history, their dossiers included notes on delays and refusal to make payments.

After some time, some citizens with a damaged credit history wanted to get a mortgage. However, they face reluctance of banks to cooperate with them. How to be in this situation? Do you really have to abandon the idea of ​​buying your own apartment?

Options for obtaining a mortgage with a bad credit history

In fact, do not despair. Even in cases where several banks refused to issue a mortgage, there is no guarantee that consent will not be obtained in all others.

Today the number of people wishing to take a mortgage is getting smaller, this led to the fact that many banks (especially regional) have become more loyal to those who want to get a mortgage loan. Often, they agree not to take into account past credit history.

We also recommend reading our article on which banks do not check the credit history of borrowers, where you will find list of banksnot checking CI.

There is another way out of a difficult situation. - seek help from mortgage brokers. Most of them have their own relations with banks, it is much easier for them to obtain approval for their customers, even in cases where the credit history is hopelessly damaged. Moreover, experienced professionals in the brokerage market can get discounts on interest rates.

Finding a broker is easy. In large cities, there are entire companies providing intermediary services. In small towns, you can contact the popular real estate agency. Many of them have such a specialist on staff.

Naturally, you will have to pay for the services of a broker. However, the money spent will more than pay off. After all, they will help to save a huge amount of time, nerves and money.

12. Conclusion + video on the topic

Thus, obtaining a mortgage is not as difficult as it seems at first glance. True, with one caveat - if the borrower has a constant official income. But in other cases, with due diligence, you can achieve the desired result.

But it is worth keeping in mind that paying for a loan for more than a dozen years will not be easy. Therefore still BEFORE At the time of signing the contract, it is important to carefully analyze your financial capabilities. In some cases, it is better to defer receiving such a serious loan for a short while.

In conclusion, we recommend watching an interesting video on how to get a mortgage for an apartment yourself, where a realtor gives useful and practical tips for beginners:

Questions to readers!

Are you going to take a mortgage on an apartment or other real estate in the near future? Which bank are you considering a mortgage loan?

We wish readers of the financial journal RichPro.ru success in financial affairs, simple and trouble-free registration of mortgage loans, and most importantly, quick and high-quality repayment of them.

Watch the video: How to Get the Best Financing - Real Estate Investing Made Simple with Grant Cardone (December 2024).