What is a mortgage and how to get it? Documents, down payment, interest, mortgage repayment

In modern realities of life, when the population of the planet is steadily growing, one of the most urgent is the housing issue. It's no secret that not every family, especially a young one, can afford to purchase their own housing, so people are increasingly interested in what a mortgage is and how to get it. What are the advantages of this type of lending and is it worth the "candleworm"?

The essence of the mortgage is that if you do not have good relatives who are able to borrow money for housing without compensation, and you want to own your own apartment, you can apply to the bank and get the necessary amount. However, this type of loan is somewhat different from the usual consumer loan, to which we are already accustomed. What exactly - we will understand.

What is a mortgage and how to get it without problems?

First of all, you need to understand that a mortgage loan is a targeted loan for the acquisition of a particular real estate, and unlike a consumer loan, you will not manage to dispose of the money at your discretion. In addition, in this case, the most often acquired object becomes a collateral - an apartment, a shop, a production premise. Therefore, it can be argued that the mortgage of real estate to secure obligations to creditors is a mortgage. Banks, incidentally, take not only housing - a mortgage can be a car, a yacht, a plot of land. However, the peculiarity of this type of lending is that the object acquired in this way becomes the property of the borrower immediately after the acquisition.

In Russia, the most common variant of this type of lending is a mortgage for housing. And, as a rule, it is the purchased apartment that is given as a pledge to the bank, although, as an option, it is possible to mortgage already existing real estate. This type of services is offered by almost all banks - Sberbank, Gazprombank, Alfa-Bank, VTB. Mortgage to any credit institution is always beneficial, because even if the borrower does not have the means to pay the debt, the mortgage will still remain with the bank. That is why the latter willingly issue such loans, vying to offer "favorable" conditions.

Who will be given credit and what is needed for this

In order for an apartment to become a real estate mortgage, you have to "sweat" enough, collecting the necessary package of documents. But we'll talk about it a little lower, and now let's make up some kind of averaged portrait of a potential client who can get a mortgage:

1. First of all, age - the ideal range is from 23 to 65 years.
2. A level of trustworthiness - you will need an impeccable credit history. If you do not have one, then before applying for a large loan, take a couple of consumer and carefully pay them. Of course, consumer credit is not as large as a mortgage, you will pay much less, but having two or three repayments on time will have a very positive effect on your image in the eyes of the bank.
3. Work experience - more than two years, and the last place of work - at least 6 months.
4. The presence of "white" income, sufficient to pay off the monthly payment.
5. And, of course, you have to collect a huge list of documents, and the more serious the bank, the more papers, certificates and receipts you will be asked.

Of course, the requirements described above - this is a generalized version, in the advertising brochures you can find a few other indicators. For example, some banks on the pages of their prospectuses state that they are ready to issue mortgage loans to persons from 18 years of age. Or another option: ostensibly for a positive response you do not need a certificate of income. So, you know: most often it's just an advertising move. Clients who know from their own experience what a mortgage is and how to get it, say: if you do not meet the above requirements, you will not get a loan for an apartment. And who is guaranteed to expect a positive response?

So, you will most likely be given a loan if:

• You have at least 20% of the cost of purchased housing for the down payment;
• Your official salary is at least twice the monthly payment;
• The mortgage is issued for an apartment, and not for a plot of land or a private house;
• All able-bodied family members have formal employment with a "white" salary;
• There is another real estate already belonging to you by right of ownership (it will not be required to mortgage it, too);
• You have no outstanding loans and other debt obligations;
• You do not act as a guarantor for loans of relatives or acquaintances;
• The work experience at the last place of work is more than 2-3 years;
• You can provide one or two solvent guarantors (it is required quite often, but not always).

Documentation

So, you decided that the only way out is to improve your living conditions - a mortgage. Banks will require from you an impressive package of documents. Let us dwell on it in more detail.

The generalized list looks like this:

• The questionnaire of the bank;
• Application for mortgage registration - sometimes it can be issued online by visiting the official website of the institution;
• A photocopy of the civil passport or the document replacing it;
• A copy of the certificate of pension state insurance;
• Certificate (copy) on the tax registration in the territory of the Russian Federation (TIN);
• Men of military age will also need a copy of the military ticket;
• Photocopies of documents on the education received - diplomas, certificates, etc .;
• Copies of certificates of marriage / divorce, birth of children;
• Marriage contract (copy), if any;
• A photocopy of the work book (all pages) with the employer's certifying entry;
• Any documents confirming the size and source of your income - form 2 Personal Income Tax, bank statements from accounts, receipts for the receipt of alimony or regular material assistance, etc.

In some banks, these documents are sufficient, but most often a mortgage loan requires a much larger number of securities. For example, you will most likely need to prepare:

• Form 9 - certificate of registration at the place of permanent residence;
• Photocopies of civil passports of all persons residing together with you, as well as the nearest relatives (parents, children, spouses), regardless of their place of permanent residence;
• A certificate of the amount of the pension and a copy of the pension certificate for non-working relatives of the corresponding age;
• Copies of death certificates of all deceased immediate relatives - spouses, parents or children.

And again the documents

If you have any expensive property, then you will need title documents proving ownership - merchant, donative, privatization certificates for a summer residence, an apartment, a car, etc. You will also need a certificate on form 7, characterizing the parameters of your residential / Non-residential premises.

Since you own shares, bonds, etc., you will have to provide an extract from the register of securities owners.

Mortgage for housing is a responsible business. So it is necessary to provide documents confirming your reliability - a credit history, copies of receipts for the timely payment of telephone and utility services, rent for the past few months, or better for a year or two.

If you have accounts in banks - card, current, deposit, credit, on demand, etc., - you will need documents confirming their availability.

In addition to all, to make a mortgage loan, be sure to stock a certificate confirming that you are not registered with a psycho-neurological or narcological dispensary.

When you contact the bank, you will need not only copies, but also the originals of the above securities, and if you have a co-borrower, you will have to prepare the same package of documents for him.

And again the documents

Additional documents may be needed for those who work "for themselves" and have their own business. It can be copies of constituent documents, accounting statements of profit / loss for the last few years, staffing, copies of main contracts, balance sheets - in general, any documents that can confirm the financial stability of your enterprise and its ability to dynamically develop.

If you are an entrepreneur without a legal entity, the bank will most likely ask you to provide:

• registration certificate;
• Receipts for the payment of taxes and contributions to various funds;
• Copies of bank statements of accounts for the last few years;
• The book of the account of expenses and incomes (if is);
• Photocopies of rental agreements and other documents confirming your stability and solvency;

As you can see, an apartment in a mortgage is a rather troublesome business. After all the necessary documents have been submitted, it is necessary to await the bank's decision to issue a mortgage. Usually the review period can take from a day to several weeks, but some banks offer the "express mortgage" service, when the decision can be made in two to three hours. Having received preliminary approval, you can start looking for an apartment.

How to choose a bank: the most profitable mortgage loans

If the long list of necessary documents did not frighten you, and you just strengthened in your decision to take housing on credit, let's take a closer look at the question of how to choose the most beneficial offer. It's clear that repaying a mortgage is a lengthy and rather expensive process, and you do not want to overpay, as everyone knows. What should I look for when choosing a credit institution?

1. First of all, you should carefully study the programs offered by banks. At the same time, try to pay attention to institutions that have been operating in the market for several years and have a proven reputation.
2. If you already have a card (any) of any of the banks, and you are generally satisfied with its work, then first of all pay your attention to this particular enterprise. The fact is that usually to regular customers, many financial institutions offer special, more favorable loan conditions than people who applied to them for the first time.
3. Pay attention not only to the interest rate, but also to the probable number of one-time payments, the amount of which in the end can turn out to be quite large. Such "commissions" may be levied by the bank for execution of various certificates, insurance and other services.
4. Be sure to study the possibility of early repayment of the loan. For example, in a bank like VTB, a mortgage can be repaid ahead of schedule without problems, and other credit institutions in this case require the client to pay in addition some fines and penalties. This can also affect your choice.
5. Almost every banking institution has its own website, where you can easily find a mortgage calculator. It's quite convenient: by filling in the appropriate fields, you can roughly calculate how much you will have to pay monthly. Compare these figures, running through the pages of several banks, and determine the most advantageous offer.

In order not to get confused with a large number of proposals, you can create for yourself a small table, where the columns will be the terms of the loan, and the lines - several banks offering a mortgage. Be sure to use the mortgage calculator - it will greatly facilitate your calculations and help determine the overall overpayment and the amount of the monthly payment.

Columns (criteria) can be:

• Term of the mortgage;
• interest rate;
• monthly payment;
• Third-party commissions, one-off payments;
• Need to confirm income;
• Possibility of early repayment;
• The amount of the initial mandatory contribution;
• Sanctions for late payment of a monthly fee;
• Promotional offers.

Of course, the proposed list of criteria you can add to your discretion. Do not rush to choose the bank with the lowest interest rate - perhaps all other conditions will not be so profitable. So evaluate all the items in the complex.

Social mortgage loan

There is one more item that you need to pay attention to when choosing a bank. The matter is that for some categories of citizens the so-called social mortgage is provided - preferential lending aimed at providing housing to the unprotected strata of the population who simply can not purchase an apartment within the framework of a "commercial mortgage".

The main difference of this type of lending is the cost of one square meter of purchased housing. In order to participate in the program, you must write an application for improving housing conditions and become registered with the Administration at your place of residence. There your application will be reviewed and an appropriate decision will be made. One of the main criteria for setting such a record is compliance with the Resolution of the Cabinet of Ministers of RT No. 190, from which it follows that the norm for providing a total area of housing per person is 18 m ² .

Participants of the "Social Mortgage" program can be, for example, state employees. The loan can be issued only at 7% per annum and for a period of up to 28.5 years, most often not even requiring a down payment.

However, not all banks work with this type of lending. The necessary information on where it can be issued, as well as whether you can claim it, can be found in the city (district) administration. Most often there is a department responsible for housing policy.

Lending to a young family

If people of the older generation mostly received housing during the Soviet era, then the mortgage to young families is now practically the only way to acquire their own housing and become independent. Fortunately, this type of lending is also supported by the state.

Each young family can take part in the federal program and qualify for a state subsidy to purchase their own housing. The normal area for a family of 2 people is 42 square meters. Such a family can claim a subsidy of 35% of the cost of housing. If a young couple has children, the housing norm is calculated as 18 m ² per person, and the size of the subsidy increases to 40% of the cost of the apartment.

State mortgage to young people can be provided not only if they are married - "single people" can also apply for a preferential loan. For this purpose, the practice of student construction teams, which are being formed in many universities, is reviving throughout the country. After the fighter of this detachment has worked out "one hundred and fifty shifts" for the benefit of the Motherland, he gets the right to make a mortgage for an apartment at cost. Thus, after a little work, you can buy a house 2-3 times cheaper from its market value.

Mortgage for military personnel

The national program "Military Mortgage" is another option for supporting the population. The program is aimed at improving the living conditions of servicemen through a funded mortgage system. It all depends on the military rank of the participant and the date of signing the first contract for the service.

The essence of the Military Mortgage program is that each year the state transfers a certain amount to the individual account of each serviceman, the amount of which is regularly reviewed by the Government of the Russian Federation depending on the level of inflation and other indicators. Over time, the accumulated amount can be used as the first installment of a mortgage.

Advantages and disadvantages

Now that you have at least in general terms understood what a mortgage is and how to obtain it, it is simply impossible not to dwell on the main advantages and disadvantages of this method of lending.

Undoubtedly, the main advantage of a mortgage is that you can get your own apartment now, rather than saving it for many years, "squaring in the corners." Since the loan is issued for many years, the monthly payment is usually not too large, and it can be repaid by the average Russian.

However, despite the "rainbow" prospects, one should not forget about the shortcomings, among which, first of all, one should call a huge overpayment on interest, sometimes reaching more than 100%. In addition, in virtually every mortgage contract, there are necessarily third-party costs - for maintaining the loan account, for reviewing the application, various insurance, commissions and so on. All this in aggregate can reach 8-10% of the cost of the initial installment. Well, of course, a huge list of documents, although it's not surprising, because the bank trusts you a lot of money, and for a very long time.