How to choose the cheapest resale mortgage of 2018? Which bank in Moscow has the most profitable mortgage? Who can help you get a mortgage?
Hello to all! Denis Kuderin is back in touch!
We continue the series of articles on mortgage lending. The topic of the new publication is a profitable mortgage. The material will be useful to anyone who is thinking about buying a home on credit and is looking for the most favorable conditions in financial institutions.
So, let's begin!
1. What conditions for mortgage loans are considered favorable?
For many citizens, mortgage lending is the only way to acquire their own housing, not after many years of savings and savings, but right now.
Mortgage loans secured by real estate are a popular type of lending throughout the civilized world.
In Russia, this method of acquiring housing became popular only 15 years ago. Nevertheless, thousands of citizens of the Russian Federation have already managed to buy real estate on credit against a multi-year pledge, and some even fully paid off their loans.
Secured loans - briefly about the main
Before talking about a profitable mortgage, you need to say a few words about the properties of loans secured by the acquired property.
Briefly about the main features of a mortgage:
- loans are taken for a long period (from 5 to 30 years and more);
- loans are targeted - they are issued only for the purchase of housing, in extreme cases, for the construction of their own home;
- the buyer, although he becomes the owner, does not have the right to dispose of the property without the knowledge of the bank until the full payment of the loan.
The main advantages of a mortgage are the speed of obtaining a loan (especially if you act through professional loan brokers), a large selection of programs, and profitable investment of funds.
Good apartments do not become cheaper over the years and, whatever one may say, renting someone else's housing is always more expensive than buying your own.
True, there is a danger that in case of non-payment of the debt, the bank will take the collateral for itself in accordance with the clauses of the mortgage agreement. In addition, loans are not issued to everyone in a row - in order to issue a loan, you must meet the requirements established by banks.
These requirements in all financial institutions are approximately the same:
- certain age (from 21 to 40-45);
- having a stable job;
- appropriate income of the borrower;
- good credit history.
For more details about how it works and how it works, read a separate article on our website. In this article, we will talk about profitable mortgages.
What is a "favorable mortgage"
Even those who have never taken loans are aware that a mortgage involves living in debt and a substantial overpayment for the acquired property. Therefore, the phrase "profitable mortgage" attracts the ears of every borrower.
Example
A family of 3 decides to take out a mortgage loan for a 2-room apartment for a period of 20 years and a cost of 3 million rubles. The monthly payment at an interest rate of 13% per year will be 35,000, and the total payments for the entire term will be approximately 5.4 million rubles.
The calculation did not take into account lump-sum commissions and insurance payments. With them, the amount will be even more impressive.
It is not surprising that with such overpayments, citizens are pre-configured to look for the most comfortable conditions for their pockets.
However, the benefit does not always depend on the reduced interest rate. By choosing a “profitable” mortgage with low interest rates, the borrower does not automatically receive a guarantee that this money will not return to the bank in any other way - for example, through a complex system of commission payments.
Another example
Many borrowers are happy to take out a mortgage without a down payment. Banks present such a service as super-profitable for the borrower.
In fact, the absence of initial payments means only that they will be made a little later. In this case, the total overpayment will most likely be even higher than with initial contributions.
Experts believe that the word "benefit" in relation to modern mortgage loans is an extremely vague concept. Its interpretation is highly dependent on momentary financial circumstances and the subjective opinion of the borrower.
If you look at mortgage loans from the right angle, the obvious "advantages" of popular mortgage programs do not always turn out to be such.
Moreover, it is precisely those programs that look or are presented as inconvenient and unprofitable, in fact, turn out to be the best option.
The winners are those who are willing to make some sacrifices for less obvious, but more valuable in the long run benefits.
2. Secrets of profitable mortgages - expert opinion
A few words about whether it is profitable to take a mortgage now, in times of economic instability. Financial analysts do not dissuade citizens from executing mortgage agreements this year, but they urge them to pay maximum attention to the process of choosing programs.
In particular, it is definitely not worth taking a loan in foreign currency, no matter how profitable the annual percentage seems to be. Thousands of borrowers have already fallen into the "currency traps" of past years and there is no guarantee that this situation will not happen again.
Example
In 2008, the difference between payments in rubles and in foreign currency at Sberbank loan rates was only 1-1.5 thousand rubles. Mortgage loans in rubles and dollars taken at that rate were almost the same: the borrower paid 35,000 rubles or $1,100 (which also amounted to about 35,000 at the exchange rate).
By 2016, the monthly payment on dollar loans objectively almost doubled, now it is 75,000 rubles. And those who took the “ruble” program continue to pay a fixed amount of 35,000.
Now about some other "advantages" and "pluses" that lure modern borrowers.
We list these offers from financial institutions:
- floating rates;
- refinancing;
- rate cuts.
Let's take a closer look at each item.
floating rates
If you listen to bank managers, a floating rate is a super-beneficial option for borrowers, guaranteeing changes in annual and monthly payments depending on objective market processes.
However, the risks in this case are assigned, again, to the fragile shoulders of the borrowers. Some analysts believe that the risk of floating rates is as high as that of foreign currency loans.
The floating rate system is tied to economic performance and no improvement is expected in the Russian economy in the near future.
Moreover, the inflation rate will rise. For the borrower, this will cost nothing more than an increase in the floating interest rate. At the same time, the size of this indicator is not limited by any limits, which can easily lead to the insolvency of the borrower.
Some people think that a variable rate loan is beneficial in the short term. That is, if you take a loan for 5-7 years and pay off the bank in a timely manner, nothing bad will happen - on the contrary, for the entire time of repayments, you will be able to save a few percent at the rate.
I can say that people who took foreign currency loans for the same 5 years in 2006 with the intention of promptly repaying them on favorable terms reasoned about the same way. The crisis of 2008 made adjustments to the calculations of borrowers.
Refinancing
Today, financial institutions offer clients many programs with combined interest rates. Borrowers are promised a reduced rate for several years, and then refinancing the loan.
The purpose of refinancing, at first glance, is very clear - to improve credit conditions. However, in reality, things are not so rosy. Borrowers hope that now they will take a loan on attractive terms, and after the end of the grace period, they will refinance it at the average market rate.
But banks are extremely reluctant to refinance and often deny borrowers their legal right to renegotiate loan terms. Usually clients do not receive any improved programs. Instead, they switch to the same floating rate with high interest rates.
In the first years (while the grace period is in effect), the borrower usually pays only interest. When he switches to a regular rate, the main debt is practically untouched: the borrower does not have any special advantages, the overpayments are as high as with a conventional mortgage loan.
Rate cuts
In recent years, many programs have emerged in the financial market offering bank customers to pay now for lower rates in the future. However, the commission for such a reduction is very decent - in the range from 1.5% to 7% of the total loan amount.
The examples of calculations presented by managers show real savings in overpayment to users of programs with payment for a reduction in the rate. However, all savings will be nullified if the borrower decides to repay the loan ahead of schedule - and this is what all mortgage clients strive for.
Bank employees will most likely keep silent about this nuance. As a result, the recipient of the loan will not receive any benefit - he will only overpay extra (and considerable) money.
About that, read the detailed material on our website.
3. Who can take advantage of subsidized mortgage loans?
If we talk about the real benefit, then citizens who have the right to preferential mortgage lending have it.
There are several types of benefits:
- reduced interest rate;
- no down payment;
- availability of credit holidays - suspension of payments for 1-3 years at the birth of a child or under other circumstances.
Preferential programs are designed to make mortgage loans affordable for low-income categories of the population.
Who is eligible for benefits:
- young families (up to 35 years);
- young teachers;
- Young professionals;
- families with 2 or more children eligible for a maternity mortgage;
- military personnel.
Despite the numerous advantages of preferential programs, they have certain disadvantages. For example, participants are required to purchase property only from a certain developer in a certain area, or the purchase is accompanied by mandatory participation in shared construction.
4. What to look for when choosing a profitable mortgage
It is difficult to decide which mortgage is the most profitable without examining all the conditions of mortgage programs.
Experts are advised to pay special attention to the following points:
- Interest rate.
- The amount of the first installment.
- Early repayment rules.
- The amount of commission for services.
- Insurance payments.
A mortgage agreement is not a document that can be “wiped without looking”. The whole text deserves careful study, including notes and those places that are written in small print.
Now - more about the most important conditions.
Condition 1. Interest rate
The annual loan rate is the first thing that people pay attention to when choosing a program. This would indeed be the most important point if banks were to play a completely open game with the client.
But most credit institutions, being purely commercial organizations, care, first of all, about their own benefit, and not about saving the client.
Therefore, when you see a low interest rate on loans, you should not flatter yourself - perhaps this is just a marketing ploy to attract your attention. Further study of the conditions will allow to assess the benefits of the program more soberly.
This year, the average rate in Russian banks is in the range of 12-15%.
Condition 2. The amount of the down payment
Also an important point. It shows how much the client needs to pay the bank immediately after signing the contract. Usually it is 10-30% of the total mortgage amount.
The amount is solid, but this is a kind of demonstration of the serious intentions of the borrower. If the recipient of the loan has money for the first installment, then he is ready to pay the principal amount.
Many customers out of habit look for banks with a minimum down payment or no down payment at all. However, remember: the less you pay today, the more you will have to pay tomorrow.
Condition 3. Early redemption rules
The most important clause of the contract. As already mentioned, the vast majority of payers seek to pay off loans ahead of schedule in order to remove a heavy debt burden from the shoulders of the family. For banks, early payments are unprofitable - they mean no profit in the future.
Credit firms, as they can, obstruct clients who want to pay off as soon as possible. For example, they are prohibited from paying more than the monthly installment until a certain date, or they are charged additional fees for making early repayments.
Loyal conditions for "earliers" - a sign of a really profitable mortgage.
Condition 4. Bank commission
A moment that is often overlooked. The one-time commission for issuing a mortgage sometimes amounts to a substantial amount - from 1% to 4% of the loan amount or the cost of housing. The lower the commission, the higher the annual interest rate and vice versa.
People with a mathematical mindset, of course, will understand such arithmetic, but not all clients are able to calculate the benefits (or lack thereof) in the long term.
The commission for issuing a loan is not all the money that you have to pay, in addition to interest and the loan body. There are also service fees that many customers safely forget about.
At first glance, these percentages seem insignificant, but since they are charged regularly, impressive amounts accumulate over the year.
Example
The borrower took a loan at an extremely favorable 11% per annum and did not pay attention to the fact that the contract mentions a commission of 0.4% for account maintenance. In small letters in the notes next to these figures it was indicated: monthly.
If you are not too lazy and count, then 4.8% will run up for maintenance per year. It turns out that in fact the loan in this bank is not 11%, but 15.8% per annum. And this is tens of thousands of rubles annually. What is called - feel the difference.
Condition 5. Insurance payments
There are no trifles in legal and financial matters. Many customers forget about this clause of the contract, regulated by law. By law, the payments themselves are subject to compulsory insurance. All other types of insurance are voluntary.
But the catch is that the value of the interest rate often depends on your consent to voluntary risk insurance.
Banks seek to secure their financial transactions as much as possible, therefore they insist not only on payment insurance, but also on life, working capacity and health insurance of the client (and at his expense).
5. Which banks offer the most profitable mortgages - TOP-5 profitable mortgage programs
There are many attractive programs, but to find them among hundreds of loan offers, you will have to spend a lot of time.
I will present the most profitable programs for the current period of time in the form of a table:
№ Bank The name of the program Interest rate Amount and term of the loan 1 Credit Bank of Moscow Mortgage with state support from 7% to 12% Up to 8 million up to 20 years 2 Rosselkhozbank Mortgage lending 13% No more than 20 million up to 30 years 3 Sberbank Mortgage with state support 13% Up to 8 million for up to 30 years 4 Primsotsbank Housing on the secondary market 12,5% Up to 10 million for a period of 5 to 25 years 5 VTB 24 Housing in the primary and secondary markets from 13% From 8 to 75 million for up to 30 years Pay attention - in some banks until the end of 2016 there will be a preferential mortgage with state support for all citizens. The rates for such programs are significantly lower and amount to 7-10%.
6. Who will help you get a profitable mortgage - professional help from loan brokers
Understanding all the nuances of mortgage offers is not a one-day task. But it is not a fact that even after spending several weeks choosing a profitable program, you will end up with the most convenient and cost-effective option.
The most profitable mortgage in 2019: pros / cons of mortgage lending + basic conditions for its provision. TOP-7 banks with the most favorable conditions.
Mortgage lending in Russia is gaining popularity every day. Despite the danger of being completely homeless, more and more people are gaining the courage to take out a loan secured by property.
This is due to the high cost of real estate and its ever-growing inaccessibility to the middle class. It is almost impossible for an ordinary person to accumulate 5,000,000 rubles. However, by taking a mortgage, a person creates a negative incentive for himself to act. This may ultimately lead to a positive outcome.
Today we will talk about whether it is profitable to take a mortgage in general, and in which bank it would be most rational to make a loan.
Is it profitable to take a mortgage in 2019?
By itself, the term "mortgage" is adjacent to a loan, and a loan is an interest overpayment, and always very significant. Having borrowed 1,000,000 rubles for 5 years, you will be forced to pay back 1,400,000. And this is at a rate of less than 15%!
The prospect is not bright, but if you urgently need to get money, getting a profitable mortgage will be the best way out of the situation.
a) What is a mortgage + its types
Each of us at least once in a lifetime took out a loan from a bank. Although it was a small amount, the overpayment was still felt. Such a loan cannot be called a profitable solution, but in 2019, this fact does not stop people, and they, without a doubt, are ready to overpay tens of thousands of rubles per annum in order to take the funds at their disposal right now.
Mortgage (loan) is a type of collateral, where the property of the borrower acts as a guarantee of repayment of the loan. If for any reason the borrower is unable to repay the bank, the pledged property is sold through an auction and the money is returned to the bank with a vengeance.
Most often in Russia, they are solved precisely as a pledge of purchased real estate, because this object of the market is the most inaccessible for ordinary citizens of our country.
The statistics of 2018 show that more than 20% of borrowers lose their living space due to the inability to repay the debt to the beneficiary. As the inflation rate rises, the forecasts for the coming years may be even worse.
Mortgage scheme:
- A person decides to take a loan for housing needs at favorable interest rates and draws up an agreement with a bank. As collateral, the property that he is going to acquire for the funds received is indicated.
- The bank signs the borrower's payment for the N-th number of years. The delay in one payment is not terrible, but if there are more than 5 of them, the court comes into action.
- In a court of law, a person is obliged to pay the debt of the current months + a penalty.
- In case of refusal or non-compliance with the deadlines, the bank has the right to seize the collateral property, which is the house / apartment, and put it up for auction.
- Real estate is being sold, the bank remains in the broth, and the borrower is “on the street”.
Because of such a sad outcome, many decide to take out a mortgage only as a last resort, even if the bank offers favorable conditions for providing funds.
Types of mortgage lending in the housing branch:
- a person can take a mortgage for a period of 12 to 300 months;
- the minimum loan amount is from 500,000 rubles, and the maximum mortgage loan that a borrower can take is 8,000,000 rubles;
- interest rate - from 9.5%, but if a person decides to take an apartment with an area of 60 square meters, the rate will be lower - 9.3%;
- if the borrower refuses insurance, his interest rate will not be so profitable - the indicator will increase by 0.5%;
- Borrowed funds are issued only to persons who have reached the age of 21.
- the initial size of the mortgage loan - from 300,000 rubles;
- entry fee - at least 15% of the borrowed funds;
- the rate is 8.5%, but in honor of the holidays, the bank often reduces its level to 6%;
- Borrower must be over 18 years of age.
- The term of issuing a mortgage loan is from 5 to 30 years.
- The bank can provide the most impressive mortgage in the Russian Federation possible at the moment - 200,000,000 rubles. However, at the same time, the estimated cost of the new building must correspond to the declared amount by 85-90%.
- The initial payment ranges from 10 to 80%. The more money you deposit at once, the better mortgage you get.
- If the purchase of real estate occurs from a partner bank, then compulsory life insurance is required, but the interest rate is reduced.
- The standard mortgage rate is 9.75%.
- The minimum age of the borrower is 18 years, and the maximum is 65 years.
- Work experience must be at least 12 months (3 months of continuous experience).
- the amount of credit funds varies between 450,000-25,000,000 rubles;
- the interest rate is 11.99%;
- the peak amount of a mortgage loan should not exceed 70% of the appraised value of the collateral;
- the loan term does not exceed 20 years;
- the borrower must be a citizen of Russia;
- age limits for a person who decides to take a profitable loan - 21-65 years.
Classic.
It occupies more than 60% of the total volume of loans from banks. They offer not the most favorable conditions, as they are designed for middle-class citizens with a stable income. And given the real average wages in Russia, a person can be called the middle class only on paper.
The borrower can take a certificate of income not from the tax office, but in the form of a bank, which will protect his “dark” property from prying eyes.
No. 4. Mortgage "Affordable meters" from the bank "Russia"
The activity of the bank began in 1990 - the first representative office was opened in St. Petersburg. Currently, there are more than 30 bank branches and more than 100 ATMs throughout the country.
Here you can get both a consumer loan at a favorable rate and a mortgage for a period of more than 20 years.
Lending requirements are individual and depend on the specialty of the borrower - corporate clients, public sector employees and privileged categories of borrowers.
The main conditions for granting a mortgage loan for individuals:
It takes no more than 2 weeks to consider the application, and the bank's decision is valid for no more than 3 months from the moment it is announced to an individual.
Only citizens of the Russian Federation with a work experience of more than 12 months can take a mortgage loan from a bank. A positive credit history is welcome. If the borrower does not have it at all, the bank can make concessions and still issue a mortgage, but on less favorable terms - in return, it will raise the interest rate by 0.5-1%.
No. 5. Mortgage "Secondary market" from "Tinkoff"
A bright representative of the banking sector in the Russian Federation. The bank is distinguished by its democratic rates for mortgage loans + a small number of additional conditions.
The main branch of the bank is located in Moscow, and every year the financial institution is gaining more and more strength in the Russian market, opening new representative offices both in small towns and multi-millionaires.
Conditions for issuing a mortgage to citizens of Russia:
You can understand how profitable a mortgage is for you on the website of a financial institution - a built-in online calculator ( www.tinkoff.ru/loans/mortgage/kvartira-vtorichnyj-rynok-zhilja) provides not only general data, but even allows you to find out monthly payments and penalties due to delay.
Consideration of the application by the bank takes place very quickly - within 2 days. There is no need to run 5-10 times to the bank, since the decision to issue a mortgage loan can be made online.
After agreeing on all the details with a personal manager, it will be enough to come to the branch with a package of collected papers and receive documentary evidence of a mortgage loan.
No. 6. Mortgage "New building" from the bank "Opening"
A bank that allows you to get a profitable mortgage since 2014. Judging by online reviews, Otkritie is one of the top three most popular financial institutions for obtaining consumer/mortgage loans.
Although there are not so favorable conditions for providing borrowed funds, even if a person does not have a credit history or insurance, the probability of refusal is incredibly small. Over 93% of applications are approved without question.
The algorithm for issuing a mortgage consists of 4 steps: application, approval, collection of a package of papers and approval of the property.
Conditions for granting loans:
Documents are accepted both via the Internet (certified copies) and through an offline visit to the branch of a financial institution. There are no additional commissions or overpayments here - a person receives exactly what he sees in the text of the main contract.
You can find a full package of securities + secondary conditions for issuing borrowed funds on the official website of Otkritie Bank: www.open.ru/ipoteka/new
How to get the best mortgage?
Mortgage advice.
No. 7. Mortgage "Easy" from "Mortgage 24"
Ipoteka 24 is a separate mortgage program from JSC CB Rusnarbank. Each borrower has his own account, through which he can communicate directly with a personal manager assigned to him after the conclusion of a mortgage loan agreement.
The program does not stand out with the most favorable interest rates, but this is offset by a loyal attitude towards borrowers and the possibility of issuing credit holidays.
Conditions for issuing a mortgage from a banking institution:
The property pledged as collateral must comply with the basic requirements of the bank - not to be registered for major repairs, not to be in disrepair and located in a 3+ storey building.
A mortgage loan is issued both directly for the purchase of housing and its overhaul. In addition, the bank provides an opportunity to get a loan for 10+ other areas related to both consumer issues and entrepreneurship.
The announced seven banks provide the most favorable mortgage lending conditions in order for 2019. In addition to low interest rates, you get incentives and preferential terms without fear of being deceived by the loan service provider.
It is very difficult to single out a single leader here, so you will have to make the final decision on which bank is more profitable to take a mortgage on your own, based on your own requests and requirements.
This completes the consideration of mortgage lending in relation to the housing issue. We hope you have decided for yourself whether it is profitable to take a mortgage in 2019.
If your answer is “Yes”, then the banks presented above will be a saving straw, offering especially favorable conditions. If for small amounts the difference can be imperceptible, then with a mortgage of several million rubles for 10+ years, even 1% translates into hundreds of thousands of rubles of overpayment.
Mortgage rates vary from bank to bank. Its value depends on the period for which you take a loan, on the availability of collateral, insurance, commission payments.
Many banks hold temporary promotions, reducing the cost of a loan to purchase a home.
Pledges and guarantees
When deciding whether to take out a mortgage, please note that in conditions of market instability, credit organizations set strict requirements for collateral.
Until the moment of registration in the register of ownership of the acquired property, most likely, it will be necessary to issue not only a guarantee of solvent persons, but also an additional liquid pledge - an already existing car or apartment.
"Anti-crisis" mortgage products
Credit institutions are interested in attracting wealthy clients. Mortgage banks are actively offering new products for individuals that are in demand during the crisis, but are quite expensive.
For example, FC Otkritie offers a service for previously issued in other commercial banks. Obligations received in foreign currency are converted, at the request of clients, into rubles. The minimum interest rate on "on-lending" is 13% per annum. It grows if certain conditions for comprehensive services in the bank are not met by the following values:
- +0.25% - for borrowers who are not payroll clients of the bank;
- +1% - for business owners;
- +0.5% - in case of refusal to pay a one-time fee for "reducing" the rate;
- +4% - if life insurance and employment contracts are not concluded.
Also, FC Otkritie offers a loan product called Ipoteka Plus: money is issued against the security of existing real estate for the purpose of its overhaul. Provision of documents confirming the intended use is not required. Interest rate - 16.25% per annum. The maximum term of financing is 30 years.
Loans for the purchase of housing with state support
The most significant parameter when a mortgage is issued is the rate. There is a calculator for calculating the amount of overpayments on the official website of each bank.
The cost of servicing a mortgage is reduced when obtaining a loan under the program of state subsidies for loans for the purchase of unfinished apartments in the primary housing market.
The participating banks are allocated funds from the Pension Fund, due to which they get the opportunity to reduce rates on mortgage loans for the purpose of purchasing apartments in new buildings. Currently, PJSC Sberbank of Russia, Gazprombank, VTB 24, Uralsib, Rosselkhozbank, Promsvyazbank and many other lending organizations have joined the program.
Mortgages with state support can be obtained in the amount of up to 8 million rubles. in the Moscow and St. Petersburg regions, in other regions - no more than 3 million rubles. The longest loan term under the Novostroyka program, according to the rules, is 30 years. Your contribution must be at least 20% of the price of the property that is being purchased.
You can buy square meters with loans received under the subsidy program only from developers approved by banks.
When applying for a loan with state support, an appropriate calculation of the mortgage is carried out. Sberbank sets a fixed interest rate, 12% per annum, before and after registering the ownership of the acquired property in the Rosreestre. In this case, it is mandatory to conclude a life insurance contract for the borrower. For violation of the condition on the annual renewal of the policy, the rate rises to 13% per annum.
In PJSC "VTB 24" you can also get a loan with state support at 12% per annum, with the obligatory execution of a comprehensive insurance contract.
In Gazprombank, the mortgage interest rate is from 11.25% per annum.
In PJSC Bank VTB, a loan "Novostroyka" is issued with an initial payment of 15% of the amount at 11.75% per annum. The decision to grant a loan is made within 24 hours.
In FC Otkritie, the rate on mortgages with state support is from 11.45% per annum, mandatory payments (surcharges) in total do not exceed 2.5% per annum. A large number of construction companies are accredited by the bank.
Loans under the Young Family Program
Another way to get the mortgage rate lower is to apply for a loan under the Young Family subsidy program.
If the age of both husband and wife does not exceed 35 years, and the couple, according to the law, needs better living conditions, it is advisable to contact the district administration. When buying an economy-class house or apartment, the state will pay up to 30% of the price of housing.
In for a young family is usually cheaper. There are fewer incremental factors applied to it.
In the mortgage "Young Family" varies depending on the term of the loan and the size of the down payment.
Interest rates on the mortgage "Young Family" in PJSC "Sberbank of Russia" are presented in the table.
Many commercial banks also have the right to accept housing certificate funds as repayment on a loan, but do not provide interest rate benefits.
However, a mortgage for a young family is now also a means of acquiring a house or apartment at a much lower cost.
How to determine future mortgage costs
When comparing lending conditions in different banks, be sure to ask the manager to prepare a preliminary calculation of the mortgage. Sberbank, VTB-24, FC Otkritie and other banks on their official websites show only an approximate amount of future loan servicing costs.
Check with the responsible person who advises you:
1. Is an appraisal of the acquired property required? If so, at whose expense is it carried out?
2. How much will be the cost of notarization of the transaction?
3. Which of the parties to the transaction pays the state fee at the registration chamber?
4. Will the mortgage rate be higher before the registration of the encumbrance of the pledge in favor of the bank?
5. What will be the additional payments under the loan agreement, in addition to the interest rate?
6. Is it necessary to insure the collateral, as well as the life and health of the borrower? How much will the policy cost?
7. What will be the repayment schedule for the loan?
8. Are there any restrictions on early repayment of a loan?
9. What fines and penalties are provided for by the loan agreement?
Only with complete information, you can decide whether to buy a home right now.
Mortgage from Sberbank for future owners of apartments and houses in the secondary market
Loans to individuals in the country's largest bank remain profitable and inexpensive. Financing for the purchase of a finished house or apartment can be obtained in the amount of 300,000 rubles. for up to 30 years at an interest rate of 12.5% to 16.5% per annum. Your down payment is 20% or more of the price of future housing.
When determining the loan term, your actual age will be taken into account. According to the rules of lending, at the time of the final repayment of the loan, the borrower must be no more than 75 years old.
The loan amount you will be given will be the smaller of:
80% of the purchase price of a house or apartment,
80% of the appraised value of the property.
The acquired real estate is issued as a pledge and is insured against the risks of loss, death, damage without fail.
Upon receipt of a housing loan in the amount of up to 15 million rubles. in Sberbank, it is possible not to confirm the fact of having a permanent place of work and not to provide income statements.
You will not need to pay a commission for issuing a loan.
Until the right of ownership of the acquired property arises, other forms of security must be provided as security for the loan: a pledge of property or a guarantee of solvent persons.
An important advantage of obtaining a mortgage at Sberbank is the possibility of early repayment without additional fees or commissions. However, it will be necessary to notify the lending office in advance about partial or full repayment of the loan.
Calculation of the cost of housing loans in Sberbank
The mortgage rate is lower in the following cases:
- Loan term within 10 years.
- You receive a salary to an account opened with Sberbank
- Initial payment - from 50% and above.
- You have submitted income statements to the bank. Experience at the most recent place of work is at least 6 months. The total period of employment for the last 6 years exceeds 1 year. This requirement does not apply to payroll customers of the bank.
- Life and health are insured in one of the accredited companies.
Approximate mortgage interest rates are shown in the table below.
Added to these rates:
- +0.5% - if you do not receive income to the bank's salary accounts.
- +1% - for the period until the registration of ownership of the acquired property.
- +1% - if the borrower's life is not insured.
Loan products for the purchase of finished housing
Competitive mortgage lending programs in the secondary market are offered by PJSC VTB24. Its main advantage is that the down payment can be from 15% of the cost of a house or apartment.
Loans are provided for up to 30 years at 13.5% per annum upon conclusion of a comprehensive insurance contract. In the absence of an insurance policy, the interest rate is 14.5%.
A 0.5% discount is provided to customers who receive salaries on accounts with PJSC VTB 24.
PJSC VTB Bank previously worked exclusively with representatives of large and medium-sized businesses. However, after the takeover, he began to develop the retail direction.
Since May 2016, VTB has also been offering mortgage products to individuals. Since the retail direction of lending in the bank is only open, the mortgage rate is extremely low, ranging from 11% per annum.
Favorable financing conditions are offered by Promsvyazbank PJSC. The initial payment for individual programs is from 10%. The interest rate on mortgages in the secondary housing market is from 13.35% per annum.
Inexpensive loans are issued to clients by AO Raiffeisenbank. Interest rates for the purchase of finished housing and apartments in new buildings for payroll clients range from 11% per annum, for persons who receive a salary not at Raiffeisenbank JSC - 12.25-12.5% per annum. Down payment - from 15% of the cost of housing. However, the maximum possible loan term is quite short, only 25 years, which affects the amount of monthly payments.
Conclusion
In the context of the financial crisis, banks are still interested in active cooperation with solvent customers. If you have a sufficiently high income, which is officially confirmed, do not rush to accept an offer from the first mortgage center that agreed to lend to you. Look for optimal conditions.
In conclusion, I would like to give advice, borrowed from Bodo Schaefer's book "A Dog Called Mani": try to deal only with those bank managers that you like. In this case, every transaction will be successful.
A mortgage loan requires careful bank selection. There are dozens of offers on the market of varying degrees of profitability, and sometimes the annual rate differs by almost 5-7%. But interest is not all that makes up the most profitable mortgage. Convenience also depends on many factors such as term, amount, and so on.
- The amount of the first installment. When buying a home, you will have to pay some part of the seller yourself, and different banks require a certain amount of this amount, up to half the cost of the apartment. You need to calculate your strength during registration and determine in advance which part you can collect as a down payment.
- Maximum amount. Naturally, not every borrower may need the huge money that some banks are able to offer. But it is still worth considering this criterion if the proposed apartment is expensive.
- Mortgage term. The longer, the more convenient it will be to repay the loan with a small salary. But the more the overpayment on interest. So the choice is up to the borrower.
- Ways to verify income. Different banks may require a different set of documents. Someone will need a certificate from the place of work, somewhere you will need a work book and even a certain length of service.
- Additional requirements to receive the minimum bet. Perhaps the bank offers some benefits, subject to the requirements being met? For example, payroll clients always have the best mortgage interest rates if the institution has such a project.
- There are additional costs. Some banks charge a certain fee for processing and issuing a mortgage loan. Those few percent can drain your wallet unpleasantly.
So even if the interest is the lowest among all banks, other conditions can make the loan very inconvenient or even unaffordable. In the ranking of the most profitable banks for mortgages, we have selected convenient options for different customers. The material included not only the largest institutions, but also small banks with comfortable programs.
TOP 10 best banks with profitable mortgages
|
Bank |
Amount, rub. |
Term |
Rate, % per year |
Down payment |
|
Sberbank |
||||
|
Transcapitalbank |
||||
|
from 300 thousand |
||||
|
FC Otkritie |
up to 127.5 million |
|||
|
Promsvyazbank |
||||
|
Alfa Bank |
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|
Rosselkhozbank |
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|
Zemsky Bank |
from 100 thousand |
Naturally, each bank has certain features and important nuances. Therefore, we recommend that you definitely read the full text of our rating of the most profitable banks for mortgages.
10 Zemsky bank
The lowest interest rate
Interest rate: from 6.5%
Rating (2019): 4.2
The bank with the lowest interest rate opens our rating. In an institution, you can take out a mortgage at a record 6.5% for non-beneficiaries (the maximum rate is 12%). The offer is valid only for purchases in new buildings. For apartments in the secondary market, the rate is much higher - from 10 to 14%. An indisputable plus of the bank is that it does not have a maximum loan amount: it is determined only depending on the solvency of the client and his need for money. At the same time, it is interesting that only 10 million rubles can be selected in the calculator, but it is not known whether technical limitations or an error in the documents played a role. The loan taken must be repaid within 15 years.
Why is the Zemsky Bank in the honorable tenth place, and not higher? It's simple: he does not have the most favorable conditions for the rest. So, in order to obtain a mortgage at such a low interest rate, it is necessary to make an initial payment of 50% of the cost of the apartment, which not every client is capable of. Another feature is that the bank considers mortgage applications up to 30 calendar days. You can get a mortgage at the Zemsky Bank within four cities: Samara, Syzran, Tolyatti and Novokuibyshevsk.
9 Dom.RF
The best preferential programs for regions
Interest rate: from 9.3%
Rating (2019): 4.3
Dom.RF is a 100% single state institution for the development of the housing sector. The institution is engaged in mortgage lending in Moscow and beyond. The site has a very convenient online calculator that will allow you to calculate the possible conditions for future lending as accurately as possible. All possible options have been taken into account.
The terms of the mortgage loan are as follows: you can get up to 30 million rubles for a period of thirty years. Ordinary customers can count on a rate of 9.7% for a new building and 9.8% for a secondary market. There are no commissions. The bank also has good conditions for military mortgages. Dom.RF offers the military up to 2 million 509 thousand rubles at 9.3% per annum. You can take out a mortgage if the client is over 25 years old. It is necessary to pay before the age of 45 and entering a preferential pension. It is especially pleasing that in the regions there are favorable preferential programs with a rate of 7.5% for the entire loan term. An important nuance: in some cases, Dom.RF may apply a variable interest rate, which varies depending on financial indices. So the overpayment can grow up to 10% per year, or even higher.
8 Genbank
Equally convenient conditions for resale and new buildings
Interest rate: from 8.9%
Rating (2019): 4.4
Genbank is not the most well-known financial institution outside of Crimea, which allows you to get a profitable mortgage for standard requests. Alas, the bank offers only two mortgage programs: for new buildings and for the secondary market. It is convenient that the offers have the same conditions: Genbank is suitable for those who have not yet decided which apartment they want to buy from. Interestingly, Genbank's concept of "apartment" also includes townhouses registered as an apartment: not every bank will allow you to purchase such housing.
The loan is issued for a maximum period of 25 years. The rate in both lending programs starts at 8.9% per annum, but may increase depending on a number of conditions: for example, individual entrepreneurs receive a rate of 1% more, and the absence of insurance, a salary account, a positive credit history raises the rate by 0.5% for each item. As a down payment, you must pay at least 15% of the cost of housing. You can receive from the bank an amount of up to 15 million rubles. It is inconvenient that the bank considers mortgage applications for a long time: from 10 days for ordinary people, pensioners and sailors, and from 20 days for clients who have a private practice or own their own business.
7 Rosselkhozbank
Favorable conditions for the military
Interest rate: from 9.2%
Rating (2019): 4.5
State bank, one of the thirty largest in Russia. Deservedly won the trust of customers for almost 20 years of stable work. Rosselkhozbank is loyal to young families with children and the military. Therefore, in mortgage lending programs, you can find the most profitable options for these categories of the population, as well as for payroll clients. Offers several interesting mortgage projects, including at reduced rates.
I am pleased with the really large loan amount - from 100 thousand for really budget housing to 60 million rubles for a beautiful apartment. You need to pay in a period of 1 to 30 years. The minimum rate for non-military and non-beneficiaries is 9.75%, but the bank often arranges various promotions with reduced interest. The minimum down payment is not less than 10% of the value of the apartment. Rosselkhozbank has favorable conditions for the military: you can get a mortgage at a bank with a rate of only 9.2% without any special restrictions, except for age and “experience”. Refinancing the military mortgage also allows you to get 9.1% per annum. Also pleased with one of the lowest rates for families with children: only 4.7% (only Promsvyazbank is lower).
6 Alfa-Bank
Mortgage for foreigners
Interest rate: from 9.39%
Rating (2019): 4.6
Alfa-Bank is the largest private bank in Russia, capable of offering favorable conditions to its clients. It allows you to purchase housing in new buildings or on the secondary market, as well as refinance an existing loan or mortgage housing for money. It is especially pleasant that Alfa-Bank makes it possible to lend not only to Russian citizens, but also to Ukrainians and Belarusians. The main thing is that the client has at least a year of experience in general and at least 6 months at the last place of work in Russia.
The conditions of the bank are not the most favorable on the market, but quite competitive. Alfa-Bank makes it possible to obtain a mortgage with a rate of 9.39% in case of registration for housing under construction and from 9.69% for the purchase of an apartment in the secondary market. The bank can issue up to 50 million rubles for a period of 30 years. Note that the rate depends on the down payment: it will increase by 0.5% if you do not make at least 20% or more (with a minimum contribution of 10%). Payroll customers can count on a further 0.3% rate cut. It is convenient that you can use the maternity capital as a down payment or make it later. However, there are no special programs for young families in the bank.
5 Promsvyazbank
Lowest mortgage rate
Interest rate: from 8.7%
Rating (2019): 4.6
Promsvyazbank is ready to issue up to 30 million rubles for a period of 25 years in Moscow and St. Petersburg, in the regions - up to 20 million rubles for the same period. The bank also allows you to mortgage existing housing in order to receive money for personal needs. The minimum rate of 8.7% is available only for buying an apartment in a new building, subject to certain conditions (loan amount from 7 million in Moscow, from 5 million in St. Petersburg and from 3.5 million in the regions, availability of insurance and down payment from 15%). In other cases, the percentage will rise steadily. For housing from the secondary market, there is a minimum rate of 8.85%, but also with a bunch of reservations.
There is a program that allows you to get a mortgage without a down payment, but at an increased rate of 11.1%. But the main advantage of Promsvyazbank is a fixed preferential rate for families with children in the amount of 4.65%, which is currently the smallest among the federal banks of Russia. The rate is less found only in some regional banks, but with a bunch of reservations and nuances. However, under this program, you can take housing worth no more than 12 million rubles in Moscow and St. Petersburg, or no more than 6 million in the regions. Insurance is also required: without it, the rate will increase by 5%.
4 FK Otkritie
Best Maximum Mortgage Amount
Interest rate: from 9%
Rating (2019): 4.7
One of the largest private banks in the country, able to offer normal mortgage terms. In reviews, customers often praise employees for promptness and openness, so there should be no problems with service. I am glad that FC Otkritie has several mortgage programs for different purposes. You can take money both for secondary housing and for an apartment under construction, or you can refinance a mortgage in a foreign bank.
FC Otkritie offers a rate of 9% for the purchase of apartments in new buildings and 9.6% for refinancing an existing mortgage. The interest is low and quite profitable. It does not officially require a salary card or other conditions. But how the bank will calculate in fact is not clear. The repayment period is generally quite large - from 5 to 30 years. The initial payment is at least 15% of the price of housing. The maximum mortgage amount is amazing: the bank is ready to give up to 127.5 million rubles for the purchase of housing in the primary and secondary markets. I am glad that FC Otkritie has the opportunity to take a targeted loan for the overhaul of an apartment at a rate of 11.2%.
3 Rosbank
Unlimited loan amount
Interest rate: from 9%
Rating (2019): 4.7
A successful universal bank with a variety of mortgages for any needs. Ready to provide the most favorable conditions. Especially if you pay a little extra. Rosbank has eight mortgage programs for different needs. Minimum rates vary from 9 to 12%. Unlike Zemsky Bank, Rosbank does not officially limit the maximum loan amount, but calculates it according to solvency and many other factors. So you can choose the option according to your desires.
The smallest initial payment is 15% of the apartment price. I am glad that the bank can issue an additional loan for the first installment if its own money is not enough. Pay off the mortgage in 25 years. Available - three services to reduce the interest rate - by 0.5, 1 and 1.5%. But they will have to pay a certain percentage of the total loan amount - 1, 2 and 4%, respectively.
2 Transcapitalbank
Profitable mortgage from partners
Interest rate: from 7.4%
Rating (2019): 4.8
A bank that seeks cooperation primarily with civil servants and employees of large companies. Ready to offer favorable conditions. In Transcapitalbank you can get up to 50 million rubles for a period of 25 years. The rate in this case starts from 7.4%. But the down payment must be at least 20%. In the reviews, clients note that TKB quickly responds to mortgage applications and often approves them. Pleased with good service and responsibility of employees.
Pleased with the conditions of favorable mortgages from partner developers. The program is called "Special Mortgage", and it allows you to purchase housing in certain complexes from JSCB "Investtorgbank" at a fixed rate of 7.9% and without a down payment. To receive a minimum rate of 7.4%, you must pay extra for a reduction in interest (the “Favorable” tariff allows you to reduce the rate by 1.5%, but you need to pay an additional 4.5% of the loan amount), as well as be an employee of a state or large company (from 500 employees), while paying 40% of the cost of the apartment in the form of a down payment. You can buy a townhouse and an apartment at a reduced rate in the primary and secondary markets.
1 Sberbank
Possibility to build a turnkey house
Interest rate: from 7.6%
Rating (2019): 4.9
The largest and most reliable bank in the country. Able to please with low rates for primary and secondary apartments. In addition, there is no doubt about the reliability of Sberbank. I am glad that the institution has come up with a convenient calculator with all the calculations and indicators for reducing/increasing rates. In addition, Sberbank is open to pensioners - at the time of the end of the mortgage, the borrower may be 75 years old!
Sberbank offers from 300 thousand to 70 million rubles for a period of 1 to 30 years. The minimum rate is only 7.6%, in fact one of the lowest on the market on general terms. Initially, the owner of the apartment will need to pay a down payment of 15% of the total amount. Such a low rate is guaranteed by Sberbank only when buying housing under construction or an apartment in a new building. For secondary housing, it is much higher. I am glad that Sberbank allows you to build your own house on a turnkey basis with partners. Housing will be built in three months, and there is no need to draw up an estimate, look for a deposit or a guarantor. However, such pleasure will cost at least 10.9% per annum.
Since the average amount of mortgage loans varies from 1.5 to 2.7 million rubles (depending on the region), the amount of interest paid will have a significant weight in the total amount of payments on a large loan. Therefore, choosing the most advantageous offer in the banking services market for the borrower remains the top priority.
The content of the article :
Mortgage interest in Russian banks
Banks charge interest for the use of credit funds, their amount is included in the monthly loan payment and is usually calculated in proportion to the balance of the debt. There are 3 ways to apply the interest rate:
Fixed rate
Remains constant throughout the life of the loan. It is the most common in application, since there is no risk of increasing the overpayment on the loan.
floating rate
It changes under the influence of the criterion specified in the contract (for example, the base rate). Not gaining popularity due to uncertainty in the long term.
Mixed rate
A combined concept, when one part of the rate is fixed and the other is floating (may be tied to the exchange rate, the weighted average rate on credit products, the inflation rate).
In order to find the bank that offers the smallest amount, it is enough to study the informational advertising material for credit organizations. For this purpose, you can use the filter " Advanced Search" In chapter " Mortgage»on the Banki.ru portal. The information sorting function will allow you to determine which bank has the lowest mortgage interest.
Factors that can affect the interest rate on a loan:
- Loan terms. The direct dependence of the term on the overpayment, namely, the longer the repayment term of the full cost of the loan, the higher the financial burden on the borrower. This option is used for the convenience of repayment - the amount of the monthly payment is lower.
- Type of object and its value(housing under construction, secondary market or suburban real estate: construction or finished housing).
- Property Location(city center or outskirts).
- Belonging to a certain category of clients(young family, military personnel, etc.). Usually, in order to attract customers, it is the reduced rate that is indicated in the advertisement, so the standard mortgage interest in different banks will be 1-2 percentage points higher.
- The amount of the down payment(there are lending programs without making your own funds). In practice, it usually amounts to at least 20%, that is, if the amount in the application for a mortgage loan is 1,500,000 rubles, an initial payment of 300,000 rubles will be required.
- Discount rates for payroll project clients, special offers from developers, a discount for filling out an online application for a housing loan (PJSC Sberbank provides a discount of 0.5 percentage points).
Which banks give mortgages and at what percentage
Before making a decision and applying for a loan, you need to determine what is the lowest mortgage interest rate in the region, as well as study the list of requirements and obligatory lending conditions (for example, the amount of the down payment, the likelihood of premiums to the base rate and other important points).
Wide range of mortgage lending:
- Buying an apartment in a new building (primary market).
- Acquisition of housing in the secondary market.
- Acquisition of suburban real estate (under construction or finished housing).
It is important to thoroughly prepare for a long-term loan of funds; for cooperation, it is better to choose a trusted bank. The four most reliable banks for the current year are:
- PJSC Sberbank;
- VTB Bank (PJSC);
- Bank GPB (JSC);
- JSC Rosselkhozbank.
Comprehensive information about what interest rate on a mortgage in Sberbank can be obtained on the official website of the bank in real time, as well as when contacting representatives of a credit institution.
Mortgage interest at VTB is slightly higher, but loan programs are adapted for clients with a limited ability to deposit a large amount of their own funds for a down payment:
At what percentage do Gazprombank mortgages:
Mortgage lending programs of Rosselkhozbank JSC
In addition, it is advisable to familiarize yourself with the offers of all commercial banks located in the accessibility zone, because in this way the opportunity to take a mortgage loan increases as part of a promotion or special offer that credit organizations carry out from time to time.
What is the lowest mortgage rate
As a rule, bank customers belonging to the social category of citizens can count on the most attractive conditions for mortgage lending:
- young families (up to 35 years of age);
- families with two or more children;
- families where one of the members is disabled;
- borrowers of retirement age;
- combat veterans;
- citizens living in dilapidated housing (officially recognized emergency houses);
- participants of the accumulative mortgage system (military personnel);
- employees of the military-industrial complex;
- employees of Russian Railways;
- public sector employees;
- Young professionals.
Loyal conditions for the privileged category of citizens are provided by a special organization JSC "DOM.RF" (formerly known as JSC "AHML"), which acts as an intermediary between the bank and the borrower. At the same time, one should not forget that simultaneously with participation in the bank's loyalty programs, the client agrees to choose a property for himself only from the list of proposed options.
Banks also offer conditions for a mortgage lending program for a young family:
For the category of citizens undergoing military service, the question may arise where you can get a loan on the best terms, which banks give mortgages and at what percentage? There are special programs for military personnel and participants in the savings and mortgage system (NIS). Most banks attract this particular segment for servicing, because military personnel are entitled to rely on loan repayments at the expense of the Ministry of Defense, and this significantly reduces the risk of non-repayment of borrowed funds.
The table provides information on what interest on mortgages in banks for this category of citizens:
The relevance of rates is usually confirmed at the moment, in order to clarify what the mortgage interest is now, you should contact the bank for advice or use other reliable services that periodically update information.
In the case when it is known for sure which particular property is being acquired (concerns housing under construction), it should first of all be clarified which credit institutionscooperate with the developer, since in this case loyalty conditions are provided: minimum rates, an extended loan period or a reduced down payment threshold.
Among other things, banks offer reduced interest rates to their regular customers, in particular those who participate in the bank's payroll project (usually for more than six months).
How to choose the bank with the lowest mortgage interest
For the borrower, it is of fundamental importance what the minimum mortgage interest offered by the bank is, since even a tenth of it over a long loan period develops into a significant amount of overpayment.
To understand what the smallest mortgage interest banks offer to their borrowers, you can study the database of existing offers or use the service " Mortgage selection wizard» on the Banki.ru website. The service is configured in such a way as to select the most favorable loan conditions, taking into account the probability of approval of the application (based on the individual rating). Similar functionality is presented on the Sravni.ru portal.
The top 4 lenders or banks with the most assets provide mortgage loans at competitive interest rates.
Best deals:
- Program "Proposals from Developers" JSC "Rosselkhozbank" - 5%.
- The program "Mortgage with state support for families with children" JSC "Rosselkhozbank" - 6%.
- The program "Mortgage with state support for families with children" of PJSC Sberbank - 6%.
- Family Mortgage Program Bank GPB (JSC) – 6%.
- Program "Acquisition of housing under construction" PJSC Sberbank - 7.4%.
- Program "Acquisition of finished housing" PJSC Sberbank - 8.6%.
- Refinancing program VTB Bank (PJSC) – 8.8%.
The lowest percentage of housing loans in the primary and secondary markets in Russian banks is offered by Tinkoff Bank (6% and 8% respectively).
First of all, if funds allow, you should contact a specialist who will tell you the lowest mortgage percentage in which bank, select the most profitable and convenient option, tell you what you should pay attention to when applying and processing documents, and also help you make a choice. Such specialists - credit brokers provide services for a fee.
However, despite the fact that the interest rate plays a huge impact on the amount of overpayment on the loan, you should also take into account other significant indicators that may entail additional costs. The so-called "pitfalls":
- Commissions for opening and maintaining an account;
- Fees for transferring funds (for making an initial contribution);
- Absence of a moratorium and additional fees for early repayment of the loan;
- Possibility to use budgetary funds (and other subsidies) to pay off debts;
- The cost of mandatory valuation of real estate;
- Insurance programs: compulsory collateral insurance - apartments or houses, as well as the borrower's insurance service - a voluntary type of insurance;
- Add-ons to interest rates.
Important! Even after fruitful cooperation with a broker or independent study of information about the mortgage lending service, you need to carefully read the contract, check that all the agreed conditions are met and that there are no possible “pitfalls”.
Do not neglect the loan calculator, with its help you can calculate upcoming payments and determine the amount of the actual overpayment. After the bilateral signing of the package of documents, the agreement enters into force, and it will no longer be possible to make amendments.
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