Which banking institutions and on what conditions apply for a mortgage for pensioners. Is mortgage possible for pensioners without interest
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It is a big mistake to consider that absolutely all pensioners are already provided with housing. In fact, the question of whether a pensioner can take a mortgage for housing is very acute. Such a need may arise at any time. The children have grown up, and we need to somehow leave, I want to get a mortgage for a country house with a plot or even move to another city in order to finally live for myself - there can be a lot of reasons.
The answer to the question whether it is possible to get a mortgage for a pensioner will depend on a combination of many factors, and our task is to find the very combination that will not only allow you to get a mortgage for housing, but also make it as profitable as possible in modern conditions. The main thing to be prepared for is the lack of great benefits from obtaining such a loan. Unfortunately, currently all loans are designed for young people, and therefore the question is whether it is possible to take a mortgage to a pensioner not so much direct as philosophical: but will it be too difficult?
We will answer right away: it will be, and the whole thing is not so much in percentage or down payment as in age restriction. Whether a pensioner can apply for a mortgage depends not only on the bank, but also on many additional factors. And our task today is to consider all of them. However, we have something to please you. The answer to the question whether a mortgage is given to working pensioners is positive with a competent approach. And today we will tell you how to take a mortgage in such conditions.
Let's start with the most basic.
Under what conditions can a pensioner count on a mortgage?
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If you are interested in whether a mortgage is given to working retirees, you should dwell in more detail on the conditions that banks put forward. The following requirements will have to be met:
- The pensioner's income should be sufficient for loan repayments in full and on time. Income for non-working pensioners is understood as pension and other social benefits, for workers - wages and pensions.
- According to the law, monthly loan payments cannot exceed 45% of the debtor’s revenue component, otherwise he simply won’t have any money left.
- A pensioner should be ready to pay off debt in record time, not only financially, but also morally. It is important for an elderly citizen to realize that unforeseen circumstances may occur, in accordance with which one should calculate his financial capabilities, for example, in case of illness.
- In most cases, the maximum age of a pensioner who is granted a mortgage loan is 65 years by the time the debt is repaid. That is, if you apply for a loan for 3 years, you can apply for up to 62 years inclusive.
Experts say that you should not despair anyway - there are banks ready to cooperate with working pensioners until they reach the age of 85. However, in reality, it is rather difficult to finalize up to this age, and therefore it is not worth agreeing to such conditions. If something happens to you, the bank will not understand who is right and who is to blame, and simply take away property.
The main problem of whether a pensioner can apply for a mortgage is precisely the age limit and in relation to banks. However, a bank is not a charity, and this is important to remember. If you apply for a loan, you should understand your abilities and your obligations, and not expect that the bank will forgive you all just because you need to respect your elders.
Remember: a bank exists to make a profit. His responsibilities do not include providing the pensioner with housing. If the state did not give you the opportunity to earn money on your home, and you are forced to seek help from a bank, it is far from the bank to blame. Therefore, do not swear with experts and blame them for bad and uncomfortable programs. Bank programs are created for its own benefit, and it has every right to do so. Treat your possibilities with a realistic look. If you have someone to help, get involved as a co-borrower. But do not expect that the bank will meet you just because you have a retirement age. This will not happen, although personally we are very sorry that such a situation has developed in our country.
Under what circumstances can a bank approve a mortgage?
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As we mentioned above, whether a pensioner can take a mortgage on a house depends on the pensioner himself. The bank works for its own profit. What to do in this case? Think about what you can offer him. How can you prove your solvency and reliability as a borrower. There are several ways to get approval when you reach retirement age:
1. Lending on the security of your real estate or other assets. If you do not have a constant large income, and the desire to acquire new square meters does not disappear, you can offer the bank a mortgage for your existing property, arranging a mortgage for another apartment or suburban area. By the way, the guarantee of existing real estate is a common practice that affects not only whether a pensioner can apply for a mortgage, but also whether they approve a mortgage for a country house with a plot at any age (banks are reluctant to do this). The guarantee of the real estate is a serious step, and it must be well thought out. Of course, I want to issue a mortgage for an apartment with a guarantee of approval. However, in the event that you cannot pay, they will take away the mortgage property from you. And what to do in this case? We must seriously weigh all the arguments and decide whether you will pull this alignment.
2. Another way to get an apartment will be a reverse mortgage. If you are interested in whether a mortgage is given to working retirees, we are ready to surprise you: such a mortgage is given even to non-working retirees. And the thing is how such a mortgage is paid. This program is suitable only for single pensioners who have no one to leave their housing. And that's why:
- a pensioner pledges his own square meters;
- during the entire lending period, not the individual pays the loan, but the bank gives cash to an elderly person, thereby covering the full cost of the mortgaged apartment with rent;
- after the death of a bank client, a financial institution by default becomes the owner of a home.
3. Co-borrower on a mortgage. Parents will never refuse children to take out a loan to solve housing issues of their beloved son or daughter. However, you should not take all responsibility on your shoulders, it is not yet known what the future holds for you. Therefore, share the loan with the whole family, in the end, they need an apartment, you already have where to live. In addition, young able-bodied co-borrowers are a guarantee that a mortgage will be issued for a longer period of time with favorable conditions for paying off debt.
What documents will be required to approve a mortgage?
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Let us dwell in more detail on what documents you need if you are interested in whether it is possible to take a mortgage for a pensioner.
- First of all, you need a passport of a citizen of the Russian Federation with registration on the territory of the state. There are banks that require registration in the relevant region, so this parameter is best specified in advance in the bank where you plan to apply.
- If you are interested in whether a mortgage is given to working retirees, you will need to provide a copy of your work book, duly certified, for approval. Now many people work under an employment contract, but among pensioners this method of employment is extremely rare. Please note that length of service affects approval. As a rule, pensioners do not have any difficulties with this. However, just in case, we repeat. Seniority at the current place of work should be more than six months, and continuous experience over the past five years should exceed a year. The more stable your experience and the more distinct your career growth is, the higher the likelihood of approval.
- Also, for working retirees will need to confirm their income. It should be recalled here that when approving a mortgage, all comprehensive income that you and all co-borrowers have is taken into account. Therefore, the pensioner must provide all documents confirming the level of income. This can be a certificate in the form of 2-personal income tax or in the form of a bank, as well as a statement from a pension account with the size of accruals for the last six months. All your co-borrowers must provide the same documents. The higher the total income, the higher the likelihood that you will approve a mortgage.
- In addition, you will also need to provide the relevant documents from the Pension Fund, confirming the fact of accrual of pensions, as well as an insurance pension certificate.
- Sometimes the bank also requires an account statement in order to verify your solvency. It is no secret that for registration of a mortgage it is necessary to make an initial payment of 10%, or even 20% of the total cost of housing. Therefore, before contacting the bank of your choice, we recommend that you open an account in it and put the funds allocated for the initial payment there. In this case, no certificates will be needed, and the bank will see for itself whether the pensioner can take a mortgage for housing with available funds.
How to increase the likelihood of mortgage approval?
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If you are concerned about whether a pensioner can get a mortgage, you need to know how you can increase your chances of getting approval.
- First of all, whether a pensioner can take a mortgage is affected by his credit history. People of retirement age can easily be forced to take both a large consumer loan and a micro loan. The credulity of older people plays into the hands of unscrupulous banks and credit organizations. Therefore, a bad credit history with a pensioner is not uncommon. The problem is that it takes much less time to fix it than at a young age. Once a year, you can find out the status of your credit history in BKI for free. For those who understand that their credit history is damaged, there are several options. The first is to try to fix it by issuing and timely paying several small consumer loans or installments. The second is to apply to a large number of banks. The fact is that for banks the request to the BKI is not free, and each bank addresses only one or two BKI. In such circumstances, there is a chance that your credit history will not be noticed, and the mortgage approved. The third option is to contact a mortgage broker. We do not recommend doing this, as a mortgage broker can deceive a young economist, not to mention a trusting pensioner, albeit a wise person with a life experience.
- In addition, whether a pensioner can apply for a mortgage is affected by the availability of real estate, vehicles and other assets. This is what pensioners often have, so it’s land and cars. They can be used for approval. The fact is that all this increases your solvency in the eyes of the bank. It is not necessary to lay a summer cottage, it is enough to provide a certificate confirming that it is yours, as well as indicate its real market value. In this case, the bank is more likely to approve a mortgage for you, as it will understand that in which case you have something to pay.
- Among other things, the aggregate income level also affects whether a mortgage is given to working pensioners. For working pensioners, mortgage lending conditions are much more convenient. The offset includes the pension, salary and income of the co-borrowers. We draw your attention to the fact that the spouse automatically becomes a co-borrower when applying for a mortgage. Plus, you can bring your children to the registration of the mortgage, whose income will also be taken into account. Such a decision is beneficial to everyone, and a large total income is the sure way to approval by the bank.
What are the disadvantages of a mortgage for senior citizens?
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The main disadvantage of this mortgage program is a large overpayment, which increases the actual value of real estate by 2 to 3 times. The main points of overpayments are:
- The service of an appraiser of housing, which is paid at the expense of the borrower and ranges from 3 to 8 thousand rubles, can not refuse to evaluate real estate;
- For consideration of the application, banks very often charge from 1 to 3 thousand rubles;
- Making a mortgage agreement costs a pensioner 5 thousand;
- For opening and maintaining a credit account, the bank will take about 3% of the total loan amount;
- Real estate insurance - 0.2 - 0.5%;
- Borrower's life and health insurance - 0.5 - 2.5% of the debt amount;
- For each day of delay, you will have to pay 0.2 - 0.5% of the payment amount.
As a result, I want to note that a mortgage for pensioners is not such an affordable thing as older people would like to see it. Not all banks are willing to issue loans, even if such a program is on the list of their services.
Which banks issue mortgages to pensioners?
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At the moment, there are several banks that issue mortgages to pensioners. However, it is worth noting that most of the mortgage products presented are the most ordinary ones, which are also taken by young people. Simply, the requirements for borrowers indicate the maximum term for repayment of the debt, which most often does not exceed 65 years. It turns out that pensioners, when applying for a mortgage at the time of retirement, have been given about 5 years to cover a mortgage loan.
An exception to this is Sberbank, which raised the bar to a maximum age of 75 years, provided that the borrower is able to work at the time of receiving the loan. It turns out that if a borrower aged 60 years issued a mortgage loan, then he will be able to allocate targeted money for up to 15 years.
We give only the maximum period that banks give for repaying a loan (i.e. age on the date of the last payment on a mortgage):
- Sberbank - 75 years
- Russian Agricultural Bank - 65th Anniversary
- Unicredit - 65 years old
- Delta Credit Bank (a subsidiary of Rosbank) - 64 years
- Promsvyazbank - 65th anniversary
- Raiffeisen Bank - 65 years (only for private entrepreneurs and for candidates / doctors of sciences, for the remaining 60 years)
Of course, we must understand that the sooner an application for a mortgage is filed, the more likely it is to be approved. You should not go to the bank at the age of 63-64 years, it is clear that most banks will refuse.
,The aforementioned banking program allows almost anyone who wants to become the owner of their own housing, subject to the requirements of a financial institution. Not only young people need their own apartment, house, and pensioners also dream of it. Unlike young people, they think not only about themselves, they also want to leave something for posterity.
The only problem is that for most age-related people, the only source of income is pension. This begs the natural question: do pensioners give a mortgage, especially if they do not have additional sources of income? Well, let's try to answer it.
Just a couple of years ago, almost all banks answered categorically “no,” since the degree of risk was too high for them. After all, an elderly person may suddenly die, and senile diseases should not be discarded. Medicines are not cheap, and if part of the pension is spent on them, then there will be no loan repayment.
But banking practice shows a change in the situation. And financial institutions have opened many special programs for lending to pensioners.
But still, mortgages for pensioners are not available at all banks. This is mainly done by large financial organizations: Sberbank, VTB24, Russian Agricultural Bank, etc. For work with social loans, many banking organizations receive considerable preferences from the state.
Age restrictions
Most of those who apply for a mortgage loan are aged 25-45 years. And they have at least 20 years to pay off the loan. Why so many? Just the requirements of most banking institutions limit the age limit of customers. The age of the borrower at the time of closing the loan should not exceed 65 years.
According to standard conditions, a mortgage can be issued to pensioners for a period of 5 years (for men) and 10 years for women. This leads to the fact that the borrower will have to repay the loan in considerable amounts in order to manage to repay everything.
You can give an example - the borrower took the amount of 3 million. The down payment was 30%, the loan term is 5 years. Having made some simple calculations, we understand that he will have to pay the bank about 45-50 thousand a month. Can a simple pensioner do this without additional work with an average pension? The question is rhetorical.
In addition, the conditions of this loan require that the monthly payment does not exceed 45% of income. Otherwise, the bank’s response to the request will be negative. Again, as an example, a pensioner has a monthly income of 34 thousand, in which case he will be approved by a maximum of 1.5 million for housing. Either you have to look for housing for this amount, or pay extra from your savings, if any. Moreover, are there many pensioners with such income? In addition, the down payment for a pensioner is at least 18-20% plus increased rates.
But recently, the pension mortgage has undergone many changes, and this is primarily due to a change in the age limit. Here's what the largest Russian banks can offer age-old customers:
- Sberbank has increased the age limit to 75 years. And the loan term is 10 years. Average rate of 13%. One of the advantages of a mortgage in Sberbank is the refusal of the bank from the mandatory.
- VTB 24. His conditions are somewhat stricter. The loan term does not exceed 5 years, the age criterion is standard - for women under 60, men under 65, however, in rare cases, a working pensioner can increase it to 75 years at a rate of 18-20%. Minimum amounts to minimize risk.
- The Agricultural Bank sets a condition - the age of the client should not exceed 65 years. But it does not require a down payment, however, a co-borrower is required.
Now you know how old the leading banks of the country issue a mortgage loan.
Departmental pensioners
The situation is completely different if a person retires from military service or the Ministry of Internal Affairs. They are entitled to a state subsidy for the purchase of housing, interest-free and not requiring a down payment. But a military pensioner must meet certain conditions:
- Service life at least 10 years.
- Dismissal must be either by term of service, or by health, which must be confirmed by departmental doctors, or by reduction (also confirmed by legal grounds).
- A pensioner must be a member of a special state program and stand in line.
Package of documents
A properly packaged package helps you get a loan faster, and a pensioner will not have to think about how to get a loan as soon as possible and not come to the bank several times.
So, how is the procedure for processing this loan:
- A pensioner must visit a bank and fill out a special form. Then he writes a statement in the form. The assembled documentation package is attached to it.
- Bank specialists study the transferred papers and make a decision.
- With a positive decision, the pensioner is given money. Most often they are transferred to a specially opened account for this.
Required Documentation:
- Copy of the borrower's ID. If there is a co-borrower, then him.
- Copy of retirement.
- For workers - a copy of the labor and 2-personal income tax.
- A certificate from the pension that the bearer of this paper is indeed a pensioner.
- In some cases, banks may require a medical examination.
It became difficult to pay
This situation more often happens when a loan has been issued, and the pensioner still worked. But for some reason, he had to leave work, so he loses extra income. What to do in this case?
Financial experts advise not to hide, but immediately go to the bank and identify the problem. Usually it is possible to agree. After all, the financial organization itself is interested in the full return of the issued funds, so they will try to offer mutually beneficial conditions.
Can pensioners take a mortgage? Can. True, you have to meet the requirements of a financial organization.
Today, a mortgage is quite affordable and affordable for retirees, especially since many of them continue to work.
Sometimes financial institutions offer quite favorable conditions, so many citizens, after retiring, use such banking programs to improve their not-so-favorable housing conditions. Where they give pensioners a mortgage for the purchase of an apartment and at what interest we will find out further.
Can a pensioner take out a housing loan?
Banks that provide pensioners with a mortgage often have special requirements for them. As a rule, this is a condition of permanent employment, they also study the age of the potential borrower.
In particular, a financial institution may require that upon completion of the loan contract the borrower no more than 70 years (and sometimes even less). Often put forward age requirements at the time of conclusion of the contract.
Pensioners who act as borrowers are studied by a banking institution very carefully than all other borrowers, since the risk factor is quite large. There are no banks with special programs in the field of mortgage lending for pensioners, but as a rule, there are no problems associated with the design of such programs.
Assessing solvency and potential recurring payments for a mortgage loan, the bank attaches importance to the following factors:
- The presence of real and documented income, its stability (except for pension);
- If a spouse takes a loan, the aggregate income is usually estimated, which is a clear plus. Together, it’s much easier to allocate the right amount to pay off the next payment;
- The presence of any property is taken into account, while its collateral value is considered, together with the acquired property.
In the latter case, the bank is much more willing to issue a mortgage, and on good terms, more favorable. For example, if pensioners own an apartment, then a loan for the purchase of, say, a country house will be much easier to obtain.
Otherwise, the conditions for obtaining mortgages for pensioners differ slightly from other citizens, perhaps, except for the duration of the contract. As with any funding, good credit historynecessarily considered as a positive factor.
The bank is also considering participation in the program for mortgage lending of additional co-borrowers, these are not necessarily children or relatives, there may be close friends.
The presence of co-borrowers increases the real chances that the mortgage will be approved.
Is a borrower required to have a job?
In the event that a pensioner receives a steady income, in addition to a pension, he also works, then his potential solvency is the same as for people of a younger age. So he has the opportunity to apply for a mortgage, however, the conditions are not the same in all banks.
For example, a working pensioner in Sberbank can receive five hundred thousand rubles, and a non-working one - only two hundred. By the way, it is only in this bank that a non-working pensioner can actually get a mortgage. But this is in case he confirms his income with a certificate from the Pension Fund. In addition, he must have either a surety or collateral.
However, it is easier for a non-working pensioner to get a job before getting a mortgage, since loan approval will take a long time. A financial institution will evaluate potential solvency, the credit history of a potential borrower, and only then will it approve (or refuse) a mortgage. Naturally, a loan is given on the security of purchased housing.
Which banks give mortgages to people of retirement age and how old?
As mentioned above, the conditions for mortgage lending for people of retirement age are different, it all depends on the bank.
Sberbank
Age at the time of full repayment of the loan under the contract should not be higher than 75 years. For example, if you came to the bank for a mortgage at the age of sixty, then a loan can be issued for a period of fifteen years.
This financial institution gives a pension mortgage only to pensioners, if they have Russian citizenship, and actual registration at the place of residence. Documentary proof of income is required, and the bank checks whether there is money "for life". If the income is enough only to pay the current loan payments, they will not give a loan.
An initial installment of ten percent of the loan amount is required, and the minimum interest rate is 10.75 percent. However, most often it is higher. Sberbank draws attention to the presence of co-borrowers and collateral.
Russian Agricultural Bank
The peculiarity of lending in this bank - take into account the presence of the co-borrower, which may be a spouse, he takes part in the preparation of a package of documents.
Of course, they also pay attention to stable solvency and additional income, in addition to pensions.
This bank draws up mortgage loans if the loan repayment period occurs up to 65 years of age. For example, a fifty-five-year-old woman will be given a loan for only ten years, and all documents that provide any category of borrower are required.
As proof of employment, they require a 2-NDFL certificate, as well as a copy of the sheets from the work book certified at work. As in Sberbank, they require citizenship and registration at the place of residence.
Typically, the Agricultural Bank reduces to seven years the term of the loan, trying to reduce the risks to a logical minimum. An exception to this bank are those who retire earlier in their profession, for example, ballerinas. For them, credit terms can be increased.
Sovcombank
This financial institution has a softer policy towards retirees. In particular, mortgages for them, both for working and non-working, are provided before the age of 85. Credit rate - 14.9 percent per annum.
To obtain a mortgage, pensioners prepare certificates from the Pension Fund and also that they work. Moreover, it is required that the operating time in the last place should be at least four months. Still need to have citizenship, a place of permanent registration.
Sovcombank carefully ensures that a pensioner lives no further than 70 kilometers from the bank and has a landline telephone at home. As additional bonuses, the bank promises to significantly reduce the interest rate on the loan if the pensioner transfers the receipt of a pension there.
How to issue?
First of all, you need to prepare all the necessary documents, they have already been mentioned above:
- proof of citizenship (passport),
- permanent registration
- income statements
- extracts from banks with a debit account.
In addition, you must provide:
- Correctly completed forms of the borrower, as well as the guarantor and co-borrower (if any);
- A package of documents that confirms the identity and solvency of all guarantors.
- If the property has property other than acquired, or other collateral, this must also be documented.
Their passports, like the potential borrower, must have a registration mark.
Loan without down payment
Provided by some banks, this gives a chance to buy housing for those who do not. In this case, an indispensable condition of the contract for mortgage lending is availability of collateral (both acquired housing and other collateral).
However, such loans are unprofitable, since they are given at a very high interest rate, as a rule, it is five percent more than loans with a down payment.
Military pensioners
Military retirees can (and are eligible) receive government subsidies. In this case, the borrower takes a mortgage not only without a down payment, but also without interest. Typically, some of the funds allocated to pay the loan budget.
To comply with such conditions, the reason for leaving the service must have a legitimate reason, it may also be a deterioration in health. In the latter case, you need to stock up with a package of medical certificates and extracts from hospitals and clinics.
To participate in the preferential state program on mortgages you need to serve at least ten years.
Some nuances and possible difficulties
It happens that when a mortgage agreement was concluded, then there was no question of financial difficulties. But over time, health deteriorated, and there is simply no way to work.
Reduced monthly payments
In this case, you can always contact the bank where you took the loan, usually the financial institution meets the borrowers and offers options for restructuring the remaining debt.
Sometimes the bank simply extends the total loan term, while reducing the amount of monthly payments. However, all situations are considered individually and depend on personal agreements and on a specific situation.
To reduce the amount of monthly payment will have to document the situation. First of all, you need to present documents that you are retired. If work is not possible due to health reasons, medical certificates will help.
Reverse mortgage
Some pensioners have only one income - their own pension. The bulk of this amount goes to food, medicine and utilities. In such cases, the saving thread is the reverse mortgage. In this case, the apartment, which was taken on a mortgage, unsubscribes to a financial institution (bank)which gradually repays the debt.
Unfortunately, there are no loyal mortgage programs for pensioners, including Sberbank. Payments and credit conditions are the same for all borrowers, but in case of a critical situation, the bank always goes forward.
So far, a mortgage without a down payment and interest-free for pensioners, but with the possibility to repay the loan in equal parts, while remaining in retirement, is a matter of the future. But some financial institutions can do this in order to reduce the risk for individual citizens in an exceptional situation.
An important factor in mortgage lending is the conclusion of an insurance contract for a loan.
True, insurance companies are reluctant to work with mature borrowers.
So, a mortgage for a pensioner, especially a worker, is the real thing. But before you take a loan, weigh the pros and cons, soberly assess your financial ability, and enlist the support of co-borrowers.
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Find out all the nuances of a mortgage for senior citizens from the video:
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Mortgages for pensioners - how old are loans for an apartment?
Most often, banks limit the age of obtaining a loan to 55 years for women and 60 years for men. However, an increasing number of financial institutions are making concessions and raising the age bar.
The maximum age to pay off debt is 75 years. That is, the longest loan term for pensioners is 20 years.
Pension mortgage is a big risk for the bank. Therefore, credit organizations put forward additional conditions:
- compulsory life and health insurance of a pensioner;
- attraction of guarantors under the age of 60 years.
In addition, more willing banks give mortgages to working retirees. Non-working can give a loan only to Sberbank. It will be problematic to take a loan and.
To calculate the monthly mortgage payments, use the loan calculator on our website. Please note that the calculation does not take into account the amount of insurance. It can be paid for with your own money, or you can include it on credit.
How to get a mortgage for pensioners? Mikhail Nikolaevich, a pensioner, even during his lifetime wrote his two-room apartment to his adult grandson. The grandson got married, and with his wife settled in a new home.
And the grandson could not do anything. He treated his grandfather well, but he did not protect him from attacks by his wife either.
Mikhail Nikolaevich decided to move out, but where? There was no accumulation, then he decided to take a loan and buy a small house in the region.
And he turned to me with a question: will they give a mortgage to a pensioner? Moreover, quite old age and unemployed.
It is believed that a mortgage is a loan product provided by banks to individuals of young and mature working age. But pensioners also have their own dreams, they can be the construction or purchase of a small cottage, garden plot or a cozy apartment.
Attention!
A limited number of banks work with pensioners, but they still exist. To do this, you need to approach certain parameters of the elderly borrower.
Mortgage conditions for pensioners
In order to qualify for a mortgage loan at a bank, an elderly person must meet the following conditions, which are assumed by the policy of a financial institution:
- The pensioner's income should be sufficient for loan repayments in full and on time. Income for non-working pensioners is understood as pension and other social benefits, for workers - wages and pensions.
- According to the law, monthly loan payments cannot exceed 45% of the debtor’s revenue component, otherwise he simply won’t have any money left.
- A pensioner should be ready to pay off debt in record time, not only financially, but also morally. It is important for an elderly citizen to realize that unforeseen circumstances may occur, in accordance with which one should calculate his financial capabilities, for example, in case of illness.
- In most cases, the maximum age of a pensioner who is granted a mortgage loan is 65 years by the time the debt is repaid. That is, if you apply for a loan for 3 years, you can apply for up to 62 years inclusive.
Experts say that you should not despair anyway - there are banks that are ready to cooperate with working pensioners until they reach the age of 85. Now let's look at the realities of life - how many people continue to work actively at the age of 85? Few! This is the whole snag.
Of course, it’s unpleasant for pensioners to realize that such limited conditions for granting mortgage loans by banks write off old people. But financial institutions can also be understood - their founders are engaged not in charity, but in business.
The sole purpose of the functioning of credit institutions is to make a profit.
When a pensioner is willing to give out a mortgage
There is a way out of every situation, even the most sensitive one - think about what you can offer the bank. There are several options:
1. Crediting on the security of the apartment or the house which belong to the pensioner. If you do not have a constant large income, and the desire to acquire new square meters does not disappear, you can try to use it and offer your own collateral obligations in return.
Warning!
How beneficial this is for older people is up to the citizens themselves. Before you take this serious step, you need to calculate the pros and cons, to really assess your financial capabilities.
Barely making ends meet on pension payments, it is difficult to allocate money every month to pay off a mortgage loan. It is better not to hope for the support of relatives - today you are in good standing with them, and tomorrow they will refuse to help you.
2. Mortgage for retirees is the opposite. A fairly young lending system, which was first proposed by AHML. The loan program is based on the provision of a loan for pensioners in the following order:
- a pensioner pledges his own square meters;
- during the entire lending period, not the individual pays the loan, but the bank gives cash to an elderly person, thereby covering the full cost of the mortgaged apartment with rent;
- after the death of a bank client, a financial institution by default becomes the owner of a home.
This option is suitable for lonely old people who have to literally survive, but want to live with dignity.
3. The co-borrower on the mortgage. Parents will never refuse children to take out a loan to solve housing issues of their beloved son or daughter. However, you should not take all responsibility on your shoulders, it is not yet known what the future holds for you.
Therefore, share the loan with the whole family, in the end, they need an apartment, you already have where to live. In addition, young able-bodied co-borrowers are a guarantee that a mortgage will be issued for a longer period of time with favorable conditions for paying off debt.
Which banks give mortgages to pensioners
Mortgage lending for pensioners is far from all banks in Russia. But in recent years, there has been a development and dynamics of an increase in the number of mortgage products for older people.
As of 2016, Russian citizens of advanced age can apply for a mortgage loan in the following financial institutions:
- Sberbank is one of the most powerful and largest banks, which was among the first to make concessions and began to cooperate with the elderly;
- Bank of Moscow - a program called “People of Business” is in effect for pensioners;
- TransCapitalbank - immediately offers two programs: “New building without proof of income” and “Mortgage in the primary market”;
- Russian Agricultural Bank - works on the basis of the results of an individual assessment of a bank's client, studying his credit history.
From time to time, attractive offers on mortgage lending for pensioners appear at VTB24, AHML, Sovcombank. They are more willing to meet working retirees, non-working ones can take the opportunity to take several loans for real estate at once, but again be careful, really calculate your own strengths.
What to do if you need a large amount of funds
Suppose an elderly person intends to take a loan to purchase a spacious, large living space, you can do this using one of the methods:
- Passport;
- Certificate from the Pension Fund;
- Retirement Insurance Certificate;
- Information on form 2 personal income tax;
- Certificate of employment in the form of a bank.
Some even ask for bank statements to make sure of solvency. In no case should this indignation be outraged - it is quite legitimate.
Advice!
Sometimes additional help is not needed. Which package of documents is required is best to study in advance on the bank's website. But the more they will be provided, the better.
Documents, credit history, the reliability of guarantors in the case of pensioners are checked especially carefully due to the fact that this category of borrowers is one of the most problematic. The biggest risk of rejection is for lonely old people, those who receive a minimum pension, those who do not have additional income.
Mortgages are most readily granted to military pensioners, since the size of their benefits is quite substantial, even if they have no sources of profit other than social benefits.
The conditions of the loan programs differ: interest rates are different for secondary housing and for new buildings, for suburban real estate. A mortgage without a down payment is possible if, instead of cash or money transfer, another real estate is provided, for example, a smaller apartment or in another city.
Which bank a pensioner can take a mortgage
In addition to the above, which issue mortgage loans until the age of 65, there are also those banks that are more liberal with older borrowers.
Attention!
The most profitable is a mortgage for pensioners of Sberbank of Russia. Firstly, the maximum age to which you need to pay off the debt is 75 years. Secondly, interest rates are not too high.
However, in order to receive it, the main requirement must be met: to receive a pension in an account with Sberbank.
The Rosselkhozbank provides good conditions, but everything there needs to be paid up to 65 years.
A special calculator on the bank’s website helps to calculate payments if you enter the amount of the down payment, the value of the object and the due date in it.
List of banks providing mortgages to pensioners
- Sberbank
- Russian Agricultural Bank.
source: http://pensia-expert.ru
Mortgage loan for seniors
Credit organizations are offering more and more lending programs every day, and if a few years ago the loan was available exclusively for the able-bodied population, today even students and pensioners can take money from the bank.
As a rule, there are no problems with small loans in total, but can a pensioner take a mortgage? Of course it can, but you can get it not only from a state bank, but also from many commercial organizations.
How to get a mortgage for a pensioner in Sberbank?
If other banks have general conditions that provide for the obligation of the client to repay the loan before he reaches 70 years of age, then at Sberbank this bar has been raised to 75 years.
A borrower who has reached the retirement age must be provided with a specific set of documents to the bank branch. It will certainly require confirmation of the client’s solvency - personal income tax from the place of work, if the person has not already stopped performing his labor duties, or a certificate from the Pension Fund.
But do they give a mortgage to pensioners whose income is not high enough to cover the amount for which an application is made to the bank? Given that pensions, like salaries for all, are different, banks issue a mortgage on the security of property or in the presence of a reliable guarantor with a sufficient level of income.
The same applies to cases when a pensioner cannot confirm his income at all with any documents. Of course, such a loan implies a higher interest rate, as well as compulsory insurance, but this is justified by the increased risks of the bank itself.
If you really look at things, then a mortgage for seniors is not such a rosy picture as people of advanced age would like to see it. Not every bank will do this, even if it provides for such a loan product.
Warning!
Each application in this case is considered with a special individuality, all items relating to the solvency and reliability of the borrower are carefully checked.
And yet, one way or another, people of retirement age today have a real opportunity to take a mortgage and enjoy their own separate housing, or to improve the living conditions of their children and grandchildren in this way.
source: http://invest.yobiz.ru/
Conditions, problems, solutions
Mortgage - a loan product, focused primarily on people of young and middle age. However, it also happens that a mortgage for pensioners also becomes necessary.
The acquisition of a cottage or land, and even more so of a house or apartment, is not for all elderly people. But do Russian banks give mortgages to pensioners? What difficulties does an older person face when applying for a mortgage loan?
Do banks give mortgages to pensioners?
There are currently no banks with special mortgage programs for pensioners. However, a retired person can still apply for a mortgage.
Attention!
Banks that give pensioners a mortgage make certain demands. The first important obstacle is the conditions of compulsory employment, even if the retirement age has already arrived.
The second main problem is the age of the borrower. For example, some banks require that the borrower be no more than 60, 65, or 70 years old when the loan agreement expires. In addition, in many financial companies, the client who was applying should initially not be more than 55 years old (for women), 60 years old (for men).
So, at VTB 24 you can only get a mortgage loan until you reach retirement age. Moreover, at the time of payment of debt, you should be no more than 60 years old if you are a woman, and 65 if you are a man.
Mortgage lending for working pensioners
The conditions for working retirees today are no different from the standard requirements for other borrowers. The only caveat - you still can not take a loan for a long period, due to your age.
So, for example, in the Agricultural Bank it is possible to issue a mortgage to a client under the age of 65 years. In this case, the loan repayment period must occur before the moment the borrower turns 65. That is, if you are a woman of 55 years, then the maximum loan period for you will be 10 years.
In this case, you must provide a full package of documents, which is required from any categories of borrowers. Employment is confirmed by documents - 2NDFL certificate and a copy of the work book certified by the employer.
Mortgages for non-working pensioners
The only bank at the moment that issues a mortgage to non-working pensioners is Sberbank. Here you can apply for a mortgage already in retirement, subject to age at the time of repayment of the debt of not more than 75 years. At the same time, you must confirm your income with an extract from the Pension Fund of the Russian Federation.
Warning!
In this case, the acquired property should serve as a pledge. Attracting a guarantor at Sberbank with mortgage lending to pensioners is mandatory.
Does Sberbank give mortgages to pensioners on some special conditions, under loyal programs? Unfortunately not. Both the maximum possible monthly payment and the loan amount will be calculated in the same way as for the working categories of borrowers.
Pensions from pensioners, frankly, are small, respectively, it is impossible to count on a large loan here. So, for example, if you are 60 years old, then you can get a mortgage for no more than 15 years.
Suppose your pension payments are 8,000 rubles, which means you can count on a loan amount of a maximum of 365,000 rubles. In this case, a down payment of 10% or more is required. The rate in this case is 13.75%. I must say that the payment in this case will amount to 4800 rubles, that is, “for life” in the absence of additional income, little remains.
What to do if large funds are needed?
There are few options:
- Make a larger down payment. Often, for this, borrowers take additional loans.
- Attract the co-borrower - children or spouse. Moreover, such persons will have the same obligations to the bank as the borrower. Sberbank makes standard requirements for all co-borrowers for all co-borrowers.
- If there is additional income, present documents confirming it. Accepted rental agreements, employment contracts, bank statements. Dividends from deposits and investments are also considered by Sberbank as sources of additional income.
What if a mortgage becomes a burden upon retirement?
If you took a mortgage loan, being a healthy and fairly young person for a long time, you probably expected that you would work when you retire. However, by this time, a lot could have changed and a mortgage loan can become an unbearable burden for you.
When you retire, your income decreases, but what if you continue to work there is no more opportunity or effort, and the mortgage has not yet been repaid?
Advice!
You can contact the creditor bank explaining the problem. A mortgage specialist will work with you to find the best solution to this issue through loan restructuring.
Due to the deteriorating financial condition of the borrower, you will be offered several options aimed at reducing the monthly payment. For example, on an individual basis, a bank can meet you and extend the loan term by reducing regular installments.
In order to reduce the monthly payment upon retirement, you will have to prove your financial situation. Present documents on retirement - a work book, as well as an extract from the RF PF.
source: http://mycredit-ipoteka.ru/
Do they give a mortgage to pensioners?
It is common for everyone that the bank considers people of working age who have good income as borrowers. But in recent years, the number of elderly people who also would like to solve their housing problem with the help of a bank has been increasing.
These are quite peppy, efficient and reasonable people. Is a mortgage possible for them?
Home purchase
Buying a home using borrowed funds has a number of features. The main one is a long loan term of up to 30 years.
Of course, the bank wants to have a guarantee for the entire period that the borrower will have income that allows him to repay the loan. Hence the requirements for:
- borrower age;
- life insurance;
- disability.
The second feature - purchased housing until the full payment of the debt is pledged to the bank (based on Article 6 of the Federal Law No. 102). Such an encumbrance, however, allows mortgaged housing to bequeath.
And then, in the event of the death of the borrower, the bank will have to deal with a new debtor - the borrower. This means some trouble for the bank.
Borrower Requirements
Most banks put forward standard requirements for borrowers:
- citizenship of the Russian Federation;
- age from 21 years to retirement;
- employment in last place for at least a year;
- income sufficient to repay the debt;
- life and health insurance (optional, but highly desirable).
Mortgage to senior citizens
Among the pensioners there are, firstly, quite young (ballerinas, police, military, etc.), and secondly, working and receiving a stable income.
Many of the elderly are practically healthy and live to a respectable age, while maintaining activity. In recent years, banks have begun to take this factor into account.
Do they give a mortgage?
Retirees can take a mortgage loan at some banks. The age limit in them is pushed to 75 years. But this means that to achieve it, the loan must be paid.
Mortgage for seniors has a number of features that should be considered:
No down payment
Finding a mortgage without a down payment is difficult even for young working borrowers, not to mention retirees.
But nevertheless, this is possible if you offer as a guarantee an existing apartment or house. Such a pledge will serve as collateral for the loan, as well as the down payment.
Up to 80 years
Even the most loyal to retirees Sberbank sets a limit age of 75 years. But if children or grandchildren act as co-borrowers or guarantors, then the bank may consider the option when the borrower will be 80 years old at the time of payment completion.
According to the family program
When registering a social mortgage within the framework of the Affordable Housing program, a pensioner can also act as a borrower, but other family members with the status of “waiting lists” can also be involved as co-borrowers, or the pensioner himself can become a co-sponsor of a young family according to one of the programs for this category citizens.
Working and non-working
Attention!
Getting a loan to working retirees is much easier than non-working.
Especially if such a borrower went on vacation not by age, but by length of service and is still quite young. In this case, the bank may not even require the submission of the co-borrowers.
For the military
The peculiarity of the mortgage for military pensioners is that its repayment is not from the personal funds of the pensioner, but from the special account of the NIS participant. On it all years of service accumulate annual deductions. They can be used after retirement. Therefore, you can get such a loan without much difficulty.
To purchase
Sberbank, which was the first to issue mortgage loans to pensioners, offers to use the appropriate programs for the acquisition of various types of real estate.
1. Apartments
The program provides for the purchase of an apartment both in the secondary market and in a new building:
- for the shared construction agreement, the rate will be higher: from 13% against 12.5% \u200b\u200bfor the secondary market;
- down payment from 15%.
2.Houses - ready and under construction
Pensioners wishing to live outside the city can take advantage of this program and purchase a house: ready or under construction. The interest rate is higher than for apartments: from 13.5%.
3.Garage
The purchase of a garage and its collateral are also possible under one of the programs of Sberbank. The interest rate is the same as for the house, but the maximum loan amount is reduced.
4. Suburban real estate
You can also build or buy a suburban cottage or garden house, a bathhouse and other outbuildings on credit. Interest rate from 13%.
Terms and conditions
Not many banks are willing to take risks and provide loans to older clients. But still they are, although their conditions cannot be called preferential.
Sberbank I am ready to consider citizens under 75 years old as borrowers, provided that they have sufficient income.
Russian Agricultural Bank considers borrowers under 65 years old. The spouse, if any, will be the co-borrower.
In VTB 24there is no specialized loan for pensioners: the age limit is different for men and women (65 and 60 years old, respectively); it is possible up to 75 years to issue non-targeted loans, their term is up to 5 years and at a high percentage.
Other banks. It is quite difficult to find among other banks wishing to lend to pensioners, especially in light of the worsening economic situation. Most of them curtailed many mortgage programs, limiting themselves to the basic package.
The disadvantages of mortgage lending to retirees
The main drawback of such loans is the high risks of the bank, which will try to shift them to borrowers.
And this means that the actual cost of housing will increase very much due to various overpayments:
- high interest rate;
- a variety of insurance;
- payment for appraiser services;
- bank fees.
The second drawback is associated with risk for co-borrowers. In the event of the death of a pensioner, the heirs will have to pay the rest of his debt. Otherwise, you will have to lose the purchased housing.
What is a reverse mortgage?
Reverse mortgage is one of the new services in the banking market. At its core, it is similar to a life annuity contract. Implements her AHML. The program is designed primarily for single pensioners, but everyone can take advantage of it.
Under an agreement concluded with a credit institution, the borrower pledges his housing to the bank. And within 10 years he receives the amounts determined by the contract. After this period, housing passes to the lender.
However, there are some interesting points:
- if the borrower dies before these 10 years, then his apartment will be sold, and the funds remaining after paying off the debt will be transferred to the heirs;
- if the borrower lives longer, then he will continue to use his apartment no longer until his death, but will no longer receive payments;
- relatives can challenge such an agreement, but will be required to return the funds paid under it.
Order of registration
The procedure for obtaining a loan secured by real estate for pensioners is practically no different from the usual one. Unless practically obligatory requirement of representation of co-borrowers and guarantors from among able-bodied relatives.
Package of documents
You will need to bring the following documents to the bank:
- application forms of all co-borrowers and guarantors;
- their passports (with a registration mark);
- confirmation of the income of all participants in the transaction;
- a package of documents for the purchased object.
Mortgages on land in Sberbank are available on favorable terms.
Can a person of retirement age become a co-borrower?
If we are talking about spouses, then most likely the bank will necessarily indicate it as a co-borrower. In other cases, it all depends on the willingness of the credit institution to consider pensioners in that capacity.
Most often, banks are ready to consider working retirees as co-borrowers of young families, but if the loan is taken for a relatively short period.
source: http://77metrov.ru/
Mortgages for retirees
Currently, banks are trying to work with all sectors of the population to expand their customer base. From a dozen years ago, getting even a small loan for a pensioner was problematic. Now credit organizations are trying to create as many programs as possible and provide mortgages to pensioners.
Can they give a mortgage to pensioners
Mortgage for retirees is not in great demand, this is due to the fact that the elderly are mostly provided with housing. But with the increase in suburban construction, mortgage programs for pensioners are becoming more popular.
Warning!
The cost of houses in the country is lower than in cities, thus reducing the timing of payments and the risks of banks. And for pensioners to live in a country house is much more comfortable than in a stuffy apartment.
And even despite the fact that real estate purchased on a mortgage is a guarantee, the risk of being denied a loan is great. This is due to the obligatory insurance of the borrower, and insurance companies try to bypass elderly people.
Conditions for obtaining a mortgage for a pensioner
Pensioners can take advantage of the mortgage program not only in state banks, but also in commercial ones. However, for people of this age separate conditions are put forward, more severe. The main condition is repayment of the mortgage by the borrower until he reaches the age of 75 years.
As with any other type of loan, a pensioner will have to provide the bank with a specific set of documents. The main documents required at any credit institution are a certificate from the Pension Fund (pension fund), a certificate of employment (for working pensioners), and sometimes an extract from a personal account is required.
If some of the documents cannot be provided, then the mortgage will be issued on the security of valuable property: car, house (apartment), shares, etc. In addition, a guarantee may be required.
To do this, the surety will have to prove its solvency. In general, the availability of guarantors is required only for non-working pensioners.
Attention!
A pensioner who continues to work is more likely to get a mortgage. All banks have different requirements for the age of the borrower and it varies from 65 to 80 years.
Compulsory insurance for pensioners has the highest percentage - 3-4%. A pensioner will have to undergo a medical commission at the clinic, after which the insurance company will announce the size of the insurance payment.
Who may be refused a mortgage
For most Russian retirees, a mortgage remains just a dream. Who will be impossible or very difficult to get a mortgage?
- Pensioners who receive a minimum pension, without additional sources of income.
- People who do not have any heirs who inherit credit obligations are lonely pensioners.
- Pensioners who for some reason cannot fulfill all the conditions of the bank.
- Citizens upon reaching 75 years.
However, not all banks are so strict and many of them go towards older people. For each case, the decision is considered individually.
When can a mortgage be approved for a pensioner
Credit organizations, even despite the large number of credit programs that can attract pensioners, are not willing to give loans to older people. Most of all, citizens of 55-60 years old who have recently retired can count on obtaining mortgages.
Also, the chances for a pensioner to get a mortgage increase the fulfillment of the conditions of banks: the presence of additional income or a certificate of employment. Banks are more likely to issue mortgages on bail or with guarantors.
Reverse mortgage
Recently, a new concept has appeared on the mortgage market - reverse mortgage. Participation in this program is beneficial for older people with poor financial situation, but the property has an apartment that no one can leave.
Having concluded a reverse mortgage agreement with the bank, the pensioner will receive monthly payments. Thus, it turns out that the bank itself takes a mortgage.
After a person passes away from life, an apartment or house becomes the property of a credit institution. If there are relatives who can challenge the contract, they will have to pay all the funds transferred by the bank to the client.
Disadvantages of Mortgages to Senior Citizens
The main disadvantage of this mortgage program is a large overpayment, which increases the actual value of real estate by 2 to 3 times. The main points of overpayments are:
- it is impossible to refuse real estate appraisal;
- for consideration of the application, banks charge from 1 to 3 thousand rubles;
- execution of a mortgage agreement costs a pensioner 5 thousand;
- the bank will take about 3% of the total loan amount for opening and maintaining a credit account;
- real estate insurance - 0.2 - 0.5%;
- borrower life and health insurance - 0.5 - 2.5% of the debt amount;
- for each day of delay, you will have to pay 0.2 - 0.5% of the payment amount.
As a result, I want to note that a mortgage for pensioners is not such an affordable thing as older people would like to see it. Not all banks are willing to issue loans, even if such a program is on the list of their services.
Warning!
All applications are examined with particular care, they check the solvency and reliability of the client.
But even so, it’s quite possible for a pensioner to take a mortgage. And a person of advanced age will be able to enjoy life in a separate house or apartment and will be left as a legacy to children and grandchildren.
source: https://prokreditinfo.ru/
Mortgage to pensioners at Sberbank
When people retire, they seek a calm and measured life. Retirees do not want to contact banks and doom themselves through long-term credit relations.
Most often, incomes of people of advanced age do not allow them to repay bank loans, therefore people try to live within their means. However, today the situation in the financial market has changed a lot, and lending has become available for people of retirement age.
Foreigners often do this: when they retire, older people begin to take affordable loans and improve their living conditions. Recent trends have shown that Russians have begun to use banking programs more actively to meet their urgent needs.
Banking institutions began to take this factor into account and make more loyal lending programs for older people. One of the first to offer pensioners a large loan to buy real estate was Sberbank.
After it, older banks and other banks began to enter the lending market, however, Sberbank still had more affordable mortgage terms for people aged.
Peculiarities of a mortgage to pensioners at Sberbank
Sberbank offers a lot of loan programs for pensioners, among which the mortgage lending program stands out. And if pensioners still receive a pension in this bank, then additional benefits are provided for them.
So, older Russians can count on a loan for such purposes:
- For the purchase of finished housing;
- To purchase real estate under construction;
- For independent construction of a residential building;
- To purchase suburban real estate;
- For the construction or purchase of a garage.
Each of these areas provides its own loan conditions.
Acquisition of finished housing
With this loan, a family of pensioners has the opportunity to purchase real estate in the secondary market. This can be an apartment, a private house, a room or another living room. This type of loan implies the following conditions:
- The loan is issued only in national currency (rubles);
- Initial mortgage installment of at least 15%;
- Annual interest rate - from 12.5%;
- The maximum loan term is thirty years;
- The minimum loan is forty-five thousand rubles;
- The maximum amount of the loan amount is calculated depending on the value of the purchased housing or the estimated value of other property, which is recorded as collateral.
The basis is the amount that is lower of these two indicators: either 85% of the appraised value of the purchased housing, or 85% of the value of any other housing that acts as collateral;
- As bank guarantees, either acquired housing or any other property owned by the borrower is laid;
- A loan is issued without additional bank commission;
- Mortgage repayment method - annuity.
Acquisition of housing under construction
According to this loan program, a pensioner has the right to purchase housing in a house that is under construction. At the same time, the mortgage facility must be located in a building accredited by Sberbank.
The remaining loan conditions are as follows:
- The loan is issued only in rubles;
- Mandatory down payment - from 15%;
- Annual interest rate - at least 12.5%;
- The borrower has the right to take a loan for up to 30 years;
- The minimum amount that a bank issues on credit is forty-five thousand;
- The maximum borrowing amount is calculated as in the previous loan program - 85% of the appraised value of the acquired or other collateral housing;
- A bank guarantee is secured by a pledge, which can be either the item of purchase or any other property of the borrower;
- When applying for a mortgage commission is not charged;
Independent construction of a private residential building
In this case, the bank sponsors the construction of a private house. The program is especially popular among pensioners who are going to continue life in a quiet secluded place outside the city, for example, in a village.
This program provides the following loan conditions:
- The loan is issued exclusively in rubles;
- The initial contribution is standard - from 15%;
- The annual interest rate on the loan is at least 13.5%;
- A loan can be borrowed for up to 30 years;
- The minimum amount of borrowing is 300 thousand rubles;
- The maximum loan size is standard for mortgage programs for seniors - 85% of the appraised value of purchased or collateral housing. However, the smaller of the two amounts;
- Bank guarantees are any other real estate owned by the borrower, or the erected house itself. However, during the construction phase, the bank needs additional guarantees, for example, a guarantee, etc.
- When applying for a mortgage, a commission is not taken;
- The loan repayment method is annuity.
Purchase of suburban real estate
This program is a great help for those who want to purchase or build a house in a village outside the city. In addition, the loan can be used for the construction of cottages, outbuildings, etc. In this case, the loan conditions are as follows:
- The loan is issued only in national currency, i.e. in rubles;
- Down payment on mortgage - from 15%;
- The annual interest rate starts at 13%;
- A loan is issued for a period of up to 30 years;
- The minimum loan amount is forty-five thousand rubles;
- The maximum loan amount is 10 million rubles;
- The collateral of the loaned housing or any other real estate, as well as a guarantee, acts as collateral for the loan;
- When applying for a mortgage, a bank commission is not charged;
- The loan is repaid by annuity.
Building or buying a garage
This mortgage for pensioners at Sberbank 2015 gives the client the opportunity to buy or build a new garage or any other building for storing a car. This type of lending is carried out on the following conditions:
- Loan currency - rubles;
- Down payment on the loan - at least 15%;
- The minimum interest rate is 13.5%;
- Mortgages can be borrowed for up to 30 years;
- The minimum amount that a bank provides on credit is 45 thousand rubles;
- The maximum amount that a borrower at an age can expect is 5 million rubles;
- The loaned object itself or any other real estate owned by the borrower acts as collateral for the loan. In addition, a guarantee may be a guarantee;
- When applying for a mortgage loan, there is no commission;
- The method of repaying a mortgage loan is annuity.
As a rule, a mortgage is issued to pensioners at Sberbank only on condition of guarantee, even if the borrower has a sufficient amount of property. Therefore, more solvent co-borrowers (children, grandchildren) are often involved in mortgages.
The bank puts forward simple requirements for the borrower:
- The borrower must be a citizen of the Russian Federation;
- The borrower must have registration in the Russian Federation;
- By the time of repayment of the mortgage, the age of the borrower should not exceed 75 years;
- The pensioner must have a regular income, with the help of which he will be able to repay monthly installments on the loan and have additional funds for living. If the loan officer determines that the pension or other additional income of the borrower can only cover bank payments, then the issuance of a mortgage will be refused.
In addition, the borrower must provide the bank with the following documents:
- application form of the borrower, as well as co-borrowers and guarantors (if any);
- a passport with a registration of the borrower on the territory of the Russian Federation, as well as passports of co-borrowers and guarantors, if they are involved as parties in the execution of the contract;
- documents proving the presence of regular income of the client (co-borrowers and guarantors, if any). As a rule, these are certificates from the Pension Fund about the accrued pension and extracts from banks where family savings are stored
- Documents on acquired real estate and documents on housing, which the borrower wants to provide as collateral.